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Governor Spitzer to reform NY property taxes

NYSAR (New York State Association of REALTORS®) issued the following statement from 2007 President Max Wm. Gurvitch at the conclusion of Gov. Eliot Spitzer's State of the State address on January 3, 2007:

“New York’s homeowners and homebuyers should be heartened by Gov. Eliot Spitzer’s State of the State address. Not only did Governor Spitzer propose badly needed immediate property tax relief, but he also announced plans to reform the root causes behind why property taxes are so high in New York including the long outdated Wicks Law. Purchasing a home in New York is often less affordable than in other states because of state and local taxes on real estate transactions. There is a growing trend for local governments to enact real estate transfer and mortgage recording taxes as a way to raise new revenues. Hopefully, a combination of Governor Spitzer’s structural reforms and increased aid to localities will help stem this anti-consumer trend.”
To view a copy of the State of the State address, click here.

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