Res. No. 1777
Title
Resolution calling upon the Governor and the State Legislature to revise the Governor's proposed Co-STAR program to provide New York City Seniors with their fair share of benefits.
Body
By the Speaker (Council Member Vallone) and Council Members Berman, Malave-Dilan, Carrion, Eisland, Espada, Freed, Linares, Michels, Moskowitz, Nelson, Reed and Warden; also Council Members Dear, DiBrienza, Fisher, Foster, Harrison, Koslowitz, Leffler, McCaffrey, O'Donovan, Quinn, Robinson, Robles and Rodriguez
Whereas, Currently, the State provides a School Property Tax Relief (STAR) program to give a partial exemption from school taxes to most owner occupied residences, with an enhanced STAR exemption available to seniors whose annual incomes are $60,000 or less; and
Whereas, As with so many State programs, New York City has always received a disproportionately lower share of the benefits from both the STAR and the enhanced STAR programs; and
Whereas, Even after the State made changes to the original program to include cooperative and condominium apartments in the homes eligible for the exemption and to provide a credit on the personal income tax to account for the fact that a disproportionately large percent of City residents were renters, the City still only receives 25% of the program's benefits although it comprises 40% of the State's population, according to figures provided by the Mayor's Office of Management and Budget (OMB); and
Whereas, According to OMB, a New York City senior citizen's average STAR benefit from both the property tax exemption and the personal income tax credit totals approximately $390 per year while a senior outside of the City receives an average benefit of over $1000 per year; and
Whereas, The proposed Co-STAR program which would provide enhanced benefits to seniors whose annual incomes are $60,000 or less, would perpetuate the inequity to New York City's seniors, by providing only 28% of the additional benefits to City seniors who comprise almost 40% of the State's seniors; now therefore, be it
Resolved, That the Council of the City of New York calls upon the upon the Governor and the State Legislature to revise the Governor's proposed Co-STAR program to provide New York City Seniors with their fair share of benefits.
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