Short Term Tax Relief and Long Term Tax Reform: An Omnibus Bill Approach

August 15, 2008. Tax reform options are receiving little attention during the current property tax debate as elected officials, the media, advocates and the general public look for ways to deliver more immediate property tax relief. In this presentation, FPI’s Executive Director Frank Mauro makes the case for the Omnibus Property Tax Relief and Reform Act. He argues that immediate relief is best provided by a well-targeted property tax circuit-breaker; and that to ease the pressure on the local property tax base over the longer term, the state should implement a 10-year plan for gradually taking over $6 billion of local school costs, an additional $1 billion of Medicaid costs, and $3 billion of the cost of basic municipal services.
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