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WPCNR NEWS & COMMENT. From the Governor Andrew M. Cuomo Committee. October 3, 2011:
When Governor Cuomo took office, local property taxes were higher in New York than anywhere else in the country. Understanding that the rapid growth in already-high property taxes was driving businesses and families from our state, the Governor fought to enact the state's first-ever property tax cap, which was passed by the Legislature in June 2011.
One year later, the property tax cap has proven to be a tremendous success. A report released last week found that the cap held average property tax growth to 2 percent – 60 percent less than the previous ten-year average. In addition, 95 percent of school districts chose to stay within the cap rather than exceed it by a supermajority vote.
The Daily News commended the Governor in a column yesterday, explaining that the reduction in property tax increases “add up to millions of dollars staying in New Yorkers’ pockets.” The article declares, “after its first year of operation, the cap is delivering as advertised."
In addition, the Daily News also points out that the tax cap has forced fiscal discipline on local politicians since the vast majority of local governments have chosen to live within the cap.
The property tax cap is saving hard-earned money for New York families. The cap, along with the Governor’s public pension reforms and mandate relief passed by the Legislature this year, are saving billions of dollars for New York taxpayers.
By working together, we're making sure that government works for the people.
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