The Real Deal New York

Property tax cap plan expected to die

April 29, 2008 09:10AM

A plan to cap property taxes is seen as dead on arrival, state lawmakers say. Sheldon Silver, the Democratic speaker of the Assembly, has said the proposal isn’t up for negotiation. A state commission headed by Nassau County Executive Thomas Suozzi is expected to deliver the plan in weeks. Meanwhile, an alternative labor-backed proposal would increase the personal income tax on people who earn more than $250,000 and use the money to lower property taxes for low-income homeowners. 

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