As you may know, the state Senate recently passed a property tax cap bill. It’s not clear whether the bill will come up for a vote in the Assembly before the end of this year. Given the crushing burden of property taxes, especially on Upstate residents, something obviously needs to be done.
Capping property taxes would be step in the right direction, but we also have to find ways to reduce these taxes and get to the bottom of what causes high property taxes in the first place. The major cost drivers are the delivery of state services and fixed costs (employee health insurance and pension contributions). There are also a whole host of unfunded or underfunded state mandates that schools and local governments have to contend with. I am strongly advocating for legislation that combines a cap with specific mandate relief. I think this will be more successful in the long run.
I share the frustration with New York’s high taxes and I’ll continue to advocate for the much needed relief our schools, local governments and taxpayers deserve.