Albany - January 3, 2007

Statement from New York State Association of REALTORS® President Max Wm. Gurvitch:

New Yorks homeowners and homebuyers should be heartened by Gov. Eliot Spitzer's State of the State address.  Not only did Governor Spitzer propose badly needed immediate property tax relief, but he also announced plans to reform the root causes behind why property taxes are so high in New York including the long outdated Wicks Law.  Purchasing a home in New York is often less affordable than in other states because of state and local taxes on real estate transactions.  There is a growing trend for local governments to enact real estate transfer and mortgage recording taxes as a way to raise new revenues.  Hopefully, a combination of Governor Spitzer's structural reforms and increased aid to localities will help stem this anti-consumer trend.

The New York State Association of REALTORS® is a not-for-profit trade organization representing more than 66,000 of New York states real estate professionals. The term REALTOR® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS®. These REALTORS® are also members of the New York State Association of REALTORS® as well as their local board or association of REALTORS®.

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Salvatore I. Prividera Jr.
518-463-0300      
sprividera@nysar.com