Income tax refund checks say on the top: “Property Tax Relief Fund,” confusing some taxpayers.
“When the state income tax was adopted, the political compromise was that was supposed to go towards property tax relief,” Sidamon-Eristoff said.
“The state can use the General Fund for any purpose it wants, including paying refunds, but generally speaking, because the income tax is such a large component of the state’s revenue base, the state will try to use as much of it as it can for annual expenditures,” he said. “From a budgeting standpoint, you want to protect the General Fund because you have greater flexibility for using those monies for various purposes.
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