property tax deductions may be coming back!!!!
A good news distraction from Covid-10 Tax deductions could be restored now that Senator Chuck Schumer is Majority Leader
An article in the NY Times on Sunday January 10, 2021 (page 21) mentioned that the state could get some relief from the SALT cap. The tax cap was passed as part of President Trumps 2017 tax reform bill. NYS has some of the highest property taxes in the country and the cap limited how much could be written off.
The Senator said "he wants it dead, gone and buried. He echoed that on Thursday, calling its repeal a very high priority."
Remember December, 2017 when Greenburgh taxpayers prepaid their 2018 town taxes so taxpayers could save money and keep the deduction. This is a link to a CNBC story highlighting what the Greenburgh Town Board did to help taxpayers save money by prepaying their taxes. We were the first community to push to allow prepayment of taxes --and our efforts, at the time, received national attention.
https://www.cnbc.com/video/2017/12/28/the-pros-and-cons-of-prepaying-property-taxes.html
I will be reaching out to our Congressional delegation asking what the town and other local governments can do to help them succeed in restoring the tax deduction.
As you will note from the video - the lines to prepay taxes at Greenburgh Town Hall in 2017 have only been matched by the lines to vote in last years Presidential election.
PAUL FEINER