Ny state heading for cap on property taxes?

The odds of a mandatory ceiling on property-tax increases improved significantly after the Assembly unveiled legislation Tuesday morning that was endorsed in short order by Gov. Andrew M. Cuomo.

Mr. Cuomo has made passing a property tax cap a priority since his campaign, and one of his top agenda items before the legislative sessions ends June 20. The cap is aimed at curbing soaring property tax increases in areas like Long Island, Westchester County and upstate New York, where some residents are being forced out of their homes by rising tax bills.

But the move was quickly attacked by education groups, who argued that a property tax cap would diminish the quality of schools in the state.

So far, the Assembly, led by New York City Democrats, has been the biggest obstacle in Albany, in part because teachers’ unions who are close to the Assembly have opposed such a move. But pressure from Mr. Cuomo on his fellow Democrats in the Legislature yielded the Assembly proposal, which is similar to what the governor had previously outlined.

Source: City Room