NEW YORK – Rockland County ratepayers will pay less on their energy bills starting Thursday, Dec. 1, when the elimination of the residential energy sales tax takes effect, County Executive Ed Day announced Tuesday. Good news now that the winter temperatures are starting to drop.
The measure is estimated to save county taxpayers about $4 million this winter and nearly $12 million annually in the future.
“As families continue to face rising energy costs this heating season, I’m proud that my administration and the Legislature worked together to eliminate the energy sales tax, which is equivalent to a reduction in property taxes. 8.4% county,” said Ed Day said . “I am committed to continuing to find ways to ease the burden on families to the best of our ability.”
Removing the tax fulfills a commitment the County Legislature and County Executive made last year when the 2022 County Budget was amended, adopted and signed. The residential energy sales tax was implemented in 2012 and will expire in 2025 after being extended due to the coronavirus crisis.
Additional efforts to achieve significant tax relief include:
- A zero percent increase in provincial property taxes for 2022.
- Elimination of the province’s motor vehicle registration tax in 2022.
- Reducing the state’s portion of the sales tax on auto fuel purchases, limiting the tax levied to the first $2 of a gasoline purchase. It is valid until February 2023.
- Proposed zero percent property tax increase by 2023.
The residential energy sales tax was applied to all energy sources, including natural gas, propane and home heating oil, as well as electricity, including electricity used for heating, keeping lights on and any other use.
“Finding ways to reduce taxes is no easy task, but I’m proud to say that by working together, County Government has found a way, and the payoff will be very real for families during the coldest days of the year,” the leader said. of the legislative minority, Lon Hofstein.
Tax reduction actions follow due diligence to ensure that the province’s fiscal position remains strong. Major credit rating agencies have continued to upgrade the nation’s credit ratings as the nation’s deficit is eliminated and final payments on a retired bond to aid the deficit reduction effort are expected to be completed in 2024, among many others. measures taken to strengthen the state of the province’s fiscal situation.
Rockland’s fiscal crisis was largely caused by the collapse of the national housing market and subsequent recession, which led to a drastic reduction in local sales tax revenue.
“It’s been more than a decade since we were forced to raise taxes and add new ones, with the support of the Office of the State Comptroller and credit rating agencies, to help us deal with the fiscal crisis,” the lawmaker said. . Vice-Chairman of the Committee on Budget and Finance Michael Grant. “It is a tremendous relief to now be able to make these significant cuts for the benefit of our deserving taxpayers.”