Schumer backs property tax break

Jerry Zremski

Jun. 19, 2009 (McClatchy-Tribune Regional News delivered by Newstex) -- WASHINGTON -- Erie County residents who own homes but don't itemize their taxes would save an estimated $38.4 million a year under a proposal that New York Sen. Charles E. Schumer is pushing.

Under a bill co-sponsored by Schumer, those who don't itemize would be able to deduct the full amount of property taxes they pay. Under current law, non-itemizers can claim deductions of only $500 for their property taxes, or $1,000 for joint filers.

"Across the state and across the country, middle-class families are up to their necks in property taxes, and all homeowners, no matter how they file their taxes, deserve relief," the Democratic senator said.

"This legislation is particularly important at a time of financial uncertainty -- it will free up money that can be saved or spent on our families, and give people everywhere a little bit more breathing room."

Using data from the Tax Foundation and the U. S. Census Bureau, Schumer's office estimated that 92,815 homeowners in Erie County would benefit from the change, receiving an average tax break of $414.

In Niagara County, 23,038 homeowners would receive an average tax break of $406. And throughout the rest of Western New York, 37,329 homeowners would receive tax breaks ranging from $286 to $385.

Schumer, a member of the Senate Finance Committee, will work to try to get his legislation included either in an expected package of middle-class tax cuts or an end-of-the-year bill extending tax provisions that are set to expire.

The legislation was introduced by Sens. Evan Bayh, DInd., and Mel Martinez, R-Fla.

jzremski@buffnews.com .

Newstex ID: 35871820