CUOMO, MANGANO RALLY SUPPORT FOR PASSING CUOMO’S PROPERTY TAX CAP
FOR IMMEDIATE RELEASE
July 27, 2010
Mangano Announces His Support for Cuomo’s Property Tax Cap
Cuomo Launches www.capNYpropertytaxes.com to Build Public Support for the Cap
Cuomo’s Plan Caps Property Tax Increases to 2 Percent or the Rate of Inflation, Whichever is Lower
Andrew Cuomo and Nassau County Executive Ed Mangano today joined together to rally support to pass a statewide property tax cap. As part of his New NY Agenda, Cuomo has proposed a property tax cap that would limit increases in property taxes, both for local government and schools, to two percent annually or the rate of inflation whichever is lower. Mangano today announced his support for Cuomo’s plan. To build public support for his property tax cap, Cuomo today launched www.capNYpropertytaxes.com, an on-line resource for New Yorkers to learn about Cuomo’s plan and to directly contact their state representatives to urge them to support the cap.
“New Yorkers have borne the burden of some of the nation’s highest property taxes for far too long. Property taxes are simply out of control and if they continue to skyrocket, it will drive New Yorkers right out of their homes and right out the state. This plan is the most aggressive to cap increases in both school and local government taxes to final give New York homeowners some relief,” Cuomo said.
“If we want to keep a thriving middle class on Long Island and keep Nassau County affordable to live in, we need to get control of property taxes and the best way to do that is to impose a state mandated property tax cap that limits the growth of both school taxes and local government taxes. We need to put partisanship and politics aside and get a property tax cap passed once and for all,” Mangano said.
New York State has some of the highest local taxes in America – 78 percent above the national average. Local property tax levies in New York grew by 73 percent from 1998 to 2008, more than twice the rate of inflation during that period. The median property taxes paid over a three year period in the United States is $1,854. In Nassau County it is $8,306.
The Cuomo tax cap is one of the toughest tax caps in the nation, capping increases to the rate of inflation or 2 percent, whichever is less. The cap would apply to all local governments and school districts, including fire and other independent special districts.
Any property tax levy increasing above the inflation rate would be prohibited, unless endorsed both by the local governing board and by a 60 percent majority vote. The Cuomo tax cap has the narrowest exceptions, only for one-time needs such as legal settlements or extraordinary capital expenditures.
The Cuomo cap would encourage consolidation or services and mergers of governments. Exceptions or adjustments would apply to consolidations of services (so that the cap would not discourage a county or town from taking on consolidated services from other localities or special districts). In fact, the cap may well encourage cost saving consolidations, where existing arrangements prove to be too expensive for the new discipline.
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