NEW YORK CITY (PIX11) – The state budget is due tomorrow, and its passage could eliminate personal income tax for some New York City taxpayers.
With the possibility of a late state budget approval, Mayor Eric Adams made a last-minute push for his “Axe the Tax” proposal on Monday.
The proposal, originally introduced in December, would completely wipe New York City’s personal income tax for people with at least one dependent making below 150% of the federal poverty line. For a family of three, that is $39,975 per year and $48,225 for a family of four.
It would also lower the New York City Personal Income Tax for people just above the threshold.
It was proposed as part of the 2026 state budget, which is due on Tuesday, April 1, but could be late given the New York State Legislature is not in session on Monday. If passed, taxpayers could see the change in taxes as early as 2025.
“This is within the power of our state lawmakers. We’re asking them to act and get this done,” Adams said.
City officials estimate “Axe the Tax” would save a single parent with one child just over $250 in taxes. For a family with two adults and two children, the savings could be over $500, according to city officials.
“Thanks to our colleagues in Albany, we’re close to getting this relief,” Deputy Mayor Adolfo Carrión said.
Emily Rahhal is a digital reporter who has covered New York City since 2023 after reporting in Los Angeles for years. She joined PIX11 in 2024. See more of her work here and follow her on Twitter here.
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