Cuomo Tax Plan Calls For Property Tax Freeze Corporate Tax Cut

01.07.14 | Bob Price

Gov. Andrew Cuomo has proposed cutting taxes by $2 billion a year, including a two-year freeze on property taxes and an elimination of corporate income taxes for manufacturers in upstate New York. Cuomo will make the tax-cutting plan a key piece of his State of the State address on Wednesday. Many of the recommendations came from a tax commission report last month that he commissioned. He added in some new proposals, such as the elimination of corporate income taxes upstate. And after the tax freeze, the state would link property taxes to household incomes. New York has among the highest taxes in the nation, and the Tax Foundation in Washington, D.C., ranked the state as having the worst business climate in the nation the past two years.