Governor signs property tax cap legislation

PLEASANTVILLE – Governor Andrew Cuomo is making his rounds, ceremonially signing the tax cap legislation into law. He signed it twice on Thursday – once at a Long Island home and again at the Pleasantville home of Russell and Tara Klein.

“We are beginning a new era in which New York will no longer be the tax capital of the nation,” Cuomo told those at his Westchester event. “For too long New Yorkers across the state have been forced to deal with back-breaking property taxes, and this cap will finally bring some relief and help keep families and businesses in New York.” He said the tax cap is “a critical step toward New York’s economic recovery, and will set our state on a path to prosperity.”

Under the new law, property tax increases will be capped at two percent or the rate of inflation, whichever is less. Local communities and local voters could override the cap with a 60 percent vote on the budget for school boards or relevant legislative bodies.

Westchester County Executive Robert Astorino called the tax cap “a good first step.”

County Board of Legislator’s Chairman Kenneth Jenkins said the cap will keep homeowners’ “skyrocketing property tax obligations” in check.
State Senator Andrea Stewart-Cousins said the new law shows “that we are serious about turning our state around.”

State Assemblyman Robert Castelli said the law is “a historic moment in the fight to reduce the highest property taxes in the United States.”

County officials across the state, though, have said a tax cap without mandate relief will further add to the financial burdens of their governments.

Cuomo’s first six months

The state’s legislative session is now over and lawmakers are beaming with all that they’ve accomplished. Many point to Governor Cuomo and his leadership. Erin Billups takes a look at Governor Cuomo’s first six months in office.

YNN ~ Video:

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