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Whoa, New York City Renters Could One Day Get A Tax Credit

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The details are super-murky, but the prospect is uber-exciting to the three-quarters of New Yorkers who rent rather than own: Andrew Cuomo is championing has expressed moderate support for a property tax break for New York City renters. This kind of credit has previously been only available for low-income renters, this would apply to all renters.

It's too early to tell much of anything yet, but reports say Cuomo supports the tax break for NYC renters along with reductions in property taxes for owners in the suburbs and upstate. The AP reports that including renters "in his property tax-cutting plan along with owners and strike a political balance that could get his proposal through the Legislature." Savvy political move, and we eagerly await some hard numbers and qualifying criteria from Albany.
· Cuomo pushes tax break for NYC renters [AP via Crain's]