Based on initial descriptions, the delayed end-of-session "big ugly" package deal announced Tuesday afternoon by Governor Andrew Cuomo and legislative leaders is simply confounding on the subject of property taxes.
Although Cuomo and Senate Republicans both said they wanted to make the state's 2 percent property tax cap permanent, the cap apparently will be extended only temporarily.
The Empire Center argues that the tax cap as it is written now is working and should be made permanent. E.J. McMahon, the president and founder of the Empire Center, makes the case for the cap. McMahon will also discuss new data on firefighter pensions.
In 2010, the median property tax paid in Monroe County was $4,035 — almost twice as much the national median of $2,043. In fact, Monroe County real estate taxes as a percentage of home value ranked second highest in the nation out of 806 counties. The same is true across the region. The median property tax paid in Livingston and Ontario counties each exceeded $3,000.
Don't look now, but given current inflation trends, next year's school property tax cap may be ... zero!
That's the message of a statement released last week by the Educational Conference Board (ECB), a coalition of groups representing public school administrators, school boards and—last but hardly least—the New York State United Teachers (NYSUT) labor union.
The ECB's "warning" was meant as an inside-the-Albany-bubble scare tactic, but for most New Yorkers, it's good news: further confirmation that the tax cap is working exactly as intended.
Since the state’s property tax cap was enacted a few years ago, local leaders’ expectations on how much they can squeeze folks have been properly adjusted.
The tax cap is accomplishing its goal of reining in runaway property tax increases, and should be extended.
A couple of years ago, when New York’s property tax cap had been through only one school-budget cycle, many people were ready to give the cap a thumbs-down. In an RBJ Daily Report Snap Poll conducted at the time, nearly 60 percent of respondents disagreed with Gov. Andrew Cuomo’s assessment that the law was a “tremendous success.”
That was then.
Nearly 60 percent of respondents to this week’s RBJ Daily Report Snap Poll say New York’s property tax cap should be made permanent. Another 31 percent would support that move if it were tied to mandate reform.
ALBANY – New York's tax cap limits the growth in property taxes to 2 percent a year or the rate of inflation, whichever is lower. So next year, because of low inflation, the tax cap could be at or near a zero percent increase, school officials are ...