KINGSTON – Democratic lawmakers are proposing the Ulster County Fair Taxes Act, legislation that would impose income tax surcharges on wealthy residents and potentially provide property tax relief for middle- and lower-income workers.
Ulster County Executive Jen Metzger was joined Friday by county legislators, State Senator Michelle Hinchey and Assemblywoman Sarahana Shrestha to announce the proposed legislation outside the Ulster County office building in the city’s Stockade District.
“We roughly estimate it could be $10 million to $20 million in revenue,” Metzger said. “And that would be put directly toward offsetting property taxes.”
County property taxes fund 15% of essential services, and officials said any income surcharges would either lower property taxes or help avoid future increases.
“And that’s what we’re going to put it towards,” Metzger said. “Reducing that burden.”
Hinchey and Shrestha are sponsoring the legislation, which would require approval by state lawmakers. The proposal would impose a 16.75% income tax surcharge, paid to Ulster County through Home Rule authority, on single filers living in the county who earn more than $200,000 annually and joint filers earning more than $400,000.
“We live at a time of unprecedented income inequality in which the ultra-wealthy pay lower income rates than the average person,” Hinchey said, “while seniors and working families struggle to afford their mortgages, utility bills and healthcare.”
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