On Tuesday, January 22, Gov. Andrew Cuomo presented his budget proposal for the 2013-2014 state fiscal year. The budget totals $142.6 billion and represents an increase of 1.9 percent from 2012-13 levels.

The governor’s proposed budget release is the beginning of the annual budget process. Next week, the Legislature will begin joint hearings on specific issue areas contained within the budget. Negotiations will then typically begin between the governor and leadership from the Senate and Assembly.

Click here to read the highlights from the governor’s budget proposal with a focus on real estate and housing issues.