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Fair Governor puts property tax cap into law
Coumo visits Lynbrook for historic signing
Gov. Andrew M. Cuomo came to the home of James and Janet Gannon in Lynbrook last week to sign the state’s first property tax cap into law.
“For decades, taxpayers across New York state have been burdened by backbreaking property taxes that have crippled businesses and families,” the governor said. “It is appropriate to sign this property tax cap at the Gannon household, as millions of homeowners like them have had the deck stacked against them for too long. This tax cap is a critical step toward New York’s economic recovery, and will set our state on a path to prosperity.”
The tax cap, Cuomo said, will deliver relief to millions of homeowners and business owners across the state who, for too long, have been burdened by out-of-control property taxes. Under the new law, property tax increases will be capped at 2 percent or the rate of inflation, whichever is smaller. Local communities and local voters can override the cap with a 60 percent vote.
Sen. Jack Martins (R-Mineola), who made a campaign promise to residents of Elmont and Franklin Square that he would work to pass the state’s 2 percent property tax, attended the bill signing.
“Time and again, people have told me that we have to provide property tax relief,” Martins said. “The 2 percent tax cap serves as a reminder that we all have to show fiscal discipline. Easing the property tax burden on our taxpayers is key to getting our economy back on track as we move forward … we promised to deliver property tax relief and we delivered on that promise.”
Nassau County Executive Edward Mangano said he believes that the plan will get the state back on the right “financial track.” State Senate Majority Leader Dean Skelos agreed.
“Enacting a property tax cap was the single biggest accomplishment of this session for millions of homeowners and businesses that are sick and tired of paying the highest taxes in the nation,” Skelos said. “I applaud Governor Cuomo for joining us in making the property tax cap a priority and for his leadership in getting it done.”
