Gov. Andrew Cuomo is proposing a nearly $1.7 billion property tax credit program to help highly taxed homeowners in Westchester County and Long Island.

Gov. Cuomo says it will be his highest priority as he kicks off his second term.

"When you look at the problems we're facing, and you look at the issues we're dealing with, they all come back to the taxes," said Cuomo. "Flight of young people, because they can't afford to live here - it's taxes. Flight of businesses, because other states are cheaper to operate - it's taxes."

The governor says the tax credit would apply to homeowners whose property tax burden exceeds 6 percent of their income. They must also have annual incomes below $250,000 and their communities must stay under the state property-tax cap.

Gov. Cuomo says when it's fully phased-in over four years, the average credit for lower Hudson Valley homeowners would be more than $1,100. The maximum credit would be $2,000.

Some renters would also be eligible, based on how much of their rent goes toward property taxes.

It's still unclear how the state would fund the program. This proposal follows property tax-cut initiatives in the governor's first term, which imposed a 2 percent cap in 2011.