Latimer Announces Proposed Property Tax Cuts
For the first time in nearly a decade, Westchester residents might end up owing less on their homes.
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Earlier this week Westchester County Executive George Latimer did something that hasn’t been seen in almost ten years: proposed a budget that would actually decrease property taxes.
“We made a commitment to freeze County property taxes, and now we can go a bit further,” the county executive says. “This budget is about the people who live in Westchester County, it is about giving them some relief, and making their County the best it can be – by providing services and programs taxpayers rely on while placing the County back onto solid financial ground.”
The announcement was made from the Greenburgh home of resident entrepreneurs Matthew and Monica Marone, just a week after Latimer had expressed support for New York Senator Chuck Schumer’s ultimately quashed attempt to circumvent the deduction cap on property taxes set by the 2017 Republican tax reforms.
“We thank County Executive George Latimer for thinking of the families in Westchester County like ours where every dollar counts,” the Marones say. “We own a small business and love living in Westchester. Every dollar we save in taxes will be spent back in the community — this is a win-win for everyone.”
Other key points of Latimer’s budget will involve adding $10 million to the county’s “rainy day” reserve fund, bolstering it up to $79 million, while paying all of the county’s operating expenses out of pocket — no borrowing. Together, along with a moratorium against “one-shot” business deals, is intended to help reinstate Westchester’s AAA bond rating.
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You can watch a full video of the announcement below. The complete 2020 Westchester County Operating Budget will be unveiled in a separate press conference on Thursday, November 8.