Governor’s budget proposal contains real estate related initiatives

On Tuesday, January 21, Gov. Andrew Cuomo presented his proposed 2014-2015 Executive Budget. The budget proposal totals $137 billion dollars and limits spending growth to two percent. The governor’s spending plan contains several real-estate-related initiatives including a proposal to freeze property taxes and reduce title insurance costs. The state Legislature will next hold joint budget hearings and deliberate the components of the budget with the hope of reaching an agreement prior to the April 1 deadline.

To read more on the 2014-2015 budget proposal, click here.