Beginning June 1, New York will cut 16 cents per gallon off the state gas tax.
The gas tax holiday will run through the end of the year. Now, both Monroe and Onondaga Counties have moved to cut their county gas taxes. RochesterFirst.com reports Monroe County Executive Adam Bello has announced that, as of June 1, the county will levy its tax only on the first two dollars per gallon. Based on prices as of today, that would amount to a cut of over 50% in the county tax.
The Onondaga County Legislature has approved a similar cap. The county taxes gas at its regular sales tax rate of 4%. That means at four dollars per gallon, the tax would be 16 cents. The legislature voted to cap the tax at 12 cents, also beginning June 1.
The down side of the tax caps is that, at whatever price we’re paying at the pump at the end of the year, we’ll all face at least a 16 cents per gallon increase when the state holiday ends next January 1.
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