New Yorkers are saving billions of dollars a year under the 2011 state law capping annual growth in local property tax levies at 2 percent or the rate of inflation, whichever is less. But the long-term fate of the tax cap is hanging in the balance this year, because the tax cap is attached to a "temporary" but decades-old state law regulating rents in New York City, due to expire June 15.
It's high time the tax cap was enshrined in a permanent, stand-alone law.
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Tax cap fibs test limits
Union leaders misrepresented the tax cap when testifying on Gov. Cuomo's proposed budget, which includes a provision to make the cap permanent.
Sen. Salazar’s good idea
State Sen. Julia Salazar, Democratic Socialist from Brooklyn, is proposing a reform that could appeal to limited government conservatives across New York.