SENATE PASSES HISTORIC PROPERTY TAX CAP LEGISLATION
The New York State Senate passed historic property tax relief legislation enacting a cap on the growth of local property taxes.
an issue that I hear about in my district almost every day – the
property tax cap. New Yorkers pay the highest property taxes in the
country and they are sick and tired of having their tax bills increase
year after year, sometimes by double digits,” said Senator Kemp Hannon.
“This issue is crucial to countless families and businesses on Long
Island and across New York State.”
The bill (S.5856) will cap school and local government taxes to
less than two percent or the Consumer Price Index (CPI), whichever is
lower. Mandate relief is also included, with $127 million in savings to
local governments, in addition to the creation of a Mandate Relief
Council to identify and repeal unsound, unduly burdensome laws and