Statement by E.J. McMahon

Research Director, Empire Center for Public Policy

The impending enactment of a permanent property tax levy cap in New York is a truly historic moment.

Since its founding in 2005, the Empire Center has identified a broad cap on property tax levies as a top policy priority.

For years, conventional political wisdom in Albany assumed that such a reform could never be enacted here.  But we persisted in explaining how a fair and flexible Massachusetts-style tax cap could be implemented in New York.

Fortunately, Governor Cuomo didn’t listen to the naysayers, either.  The governor is justly criticized for a lot of things—but he deserves all the credit he will claim for initiating this significant reform, sticking with it and pushing it across the finish line.

The tax cap has been extensively analyzed and debated for eight years now. It has saved New York homeowners and businesses billions of dollars since 2011. Based on its proven track record of effectiveness and popularity, it clearly has been working and deserved to be made permanent. Unfortunately, the cap was embedded in a package of fiscal 2020 budget legislation that also featured a wide variety of extraneous initiatives, objectionable provisions and disturbing precedents.

Under this budget, state taxes will be raised even more than the governor proposed, new health insurance coverage mandates will drive premiums even higher for workers and employers, and local governments and school districts will be saddled with even more costly state mandates.

The permanent tax cap is a big step forward for New York.  But in other respects, the new budget package leaves more than ever to be done to make the state an affordable and competitive place to live, work and do business.

More background on the tax cap can be found at https://www.empirecenter.org/publications/protecting-the-property-tax-cap/

 

You may also like

$68 Million in DASNY Pork Projects Range from Recreation to Legislative Drafting

A total of $68 million in grant awards was steered to 276 local projects between November 2021 and March 2022 by the Dormitory Authority of the State of New York Read More

Legislative Spending Unevenly Divided Among Members

Spending by state lawmakers on office personnel and administrative costs varies widely, with some paying out nearly twice as much as others Read More

State of the State Reactions: Will This Bring New Yorkers Back?

The Empire Center for Public Policy offered the following reactions to Governor Hochul’s first State of the State address. Read More

Rec and Restroom Facility Projects Among Fresh DASNY Pork

A total of $87 million in new grants were steered to 174 local projects over the past ten months by Governor Cuomo’s State Dormitory Authority (DASNY) Read More

New York Spends More than All Other States on Education and Medicaid

New York’s spending on education and Medicaid will leave a hole in the budget after federal COVID relief money runs out Read More

Legislative Spending in Campaign Year Includes $7 Million in Postage

State lawmakers spent $7.3 million on postage for campaign-style mailings to constituents in the six-month run-up to last year’s elections Read More

Proposed Tax Hikes Would Hinder Economic Recovery and Undermine State Tax Base, Analyst Warns

“The economies of New York City and State will recover eventually—but how strongly, and how soon, are open questions. In the meantime, the Legislature’s guiding principal can be summed up in five words: don’t push more taxpayers away.” Read More

Empire Center Ranks Local Taxes, Spending and Debt Across NY

The Empire Center today released its annual “Benchmarking New York” report, comparing and ranking government tax, spending and debt levels for hundreds of counties, towns, cities and villages throughout New York. Read More

Subscribe

Sign up to receive updates about Empire Center research, news and events in your email.

CONTACT INFORMATION

Empire Center for Public Policy
30 South Pearl St.
Suite 1210
Albany, NY 12207

Phone: 518-434-3100

General Inquiries: Info@EmpireCenter.org

Press Inquiries: Press@EmpireCenter.org

About

The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.

Empire Center Logo Enjoying our work? Sign up for email alerts on our latest news and research.
Together, we can make New York a better place to live and work!