Cuomo to address taxes, schools in state address

As Gov. Andrew Cuomo begins his second term, he is going to have much more money to spend. His spending plan as well as other issues are set to be announced during the State of the State address today.

Under a proposal Gov. Cuomo put forth last week, homeowners whose property taxes exceed 6 percent of their income would receive tax relief. The governor has also talked about tax cuts for small businesses and helping students pay back college loans.

Billions of dollars are expected to be earmarked for bridges, roads and other infrastructure.

State Sen. Kemp Hannon (R – Garden City) calls it an aggressive agenda.

“There are some people who said ‘we expected him to take a more relaxed approach.’ He's not,” said Hannon. “He's actually gearing up and moving forward on a lot of fronts and that's a good thing for governors to do, especially in their second administration.”

In part, what will pay for those programs is a $5.5 billion court settlement the state reached with banks over violations they committed during the financial crisis.

Long Island residents will be listening to Cuomo’s proposed school aid in Nassau and Suffolk. School taxes make up the biggest chunk of property tax bills in two counties, and the more aid districts get from Albany, the less they have to get from homeowners.