New York’s new budget — the actual state-government expenditure plan, that is, as opposed to numerous side issues packaged with it — apparently came in close to Gov. Andrew Cuomo’s bottom line. Read More
Tag: Property Tax Cap
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. Read More
When New York’s 2 percent cap on local property tax levies was about to become law in June 2011, the statewide teachers union warned of an apocalypse just around the corner. Eight years later, New York’s school districts are better funded than ever—still atop national expenditure rankings, now laying out nearly 90 percent more per pupil than the 50-state average. But the rise in school property taxes statewide has slowed by more than two-thirds, to an average of 1.8 percent a year, saving homeowners and businesses billions of dollars in 2018 alone. Read More
Over the past seven years, New York’s cap on local property tax levies has generated billions of dollars in savings for homeowners and businesses, compared to previous trends. The cap has been especially effective in restraining school property taxes, which have long been the largest and fastest-growing component of New York’s tax burden. Read More
With the clock ticking toward the April 1 start of the next state fiscal year, Assembly Democrats just laid out their budget preferences—and, as usual, they add up to a massive tax-and-spend fantasy. Read More
Government unions aren’t letting the facts get in the way of their opposition to Governor Andrew Cuomo’s push for a permanent property tax cap. Testifying in Albany this month on Cuomo’s FY20 Executive Budget, union leaders made a number of misrepresentations regarding the cap, which since 2011 has slowed the growth of property taxes outside New York City. Read More
Governor Andrew Cuomo on Friday laid down an important marker in his push to make the property tax cap permanent, rejecting changes that would weaken it. Read More