Senior citizens in New York could see a big property-tax break and all other homeowners would get a larger tax rebate under a proposal unveiled Tuesday by the Republican-led state Senate.
The $5 billion plan over 10 years, senators said, would help lower property taxes in New York, which is among the most expensive places to live in the nation.
But how the Republicans would pay for the plan and whether Gov. Andrew Cuomo and Democrats who control the Assembly would support it is uncertain.
The state also faces fiscal troubles: a $4.4 billion deficit for the upcoming year.
Still, Republicans were undaunted, saying property taxpayers deserve a break and that their plan would curb the exodus of New Yorkers leaving for other states.