Cuomo meets resistance on property tax cap

New York property taxes could be on their way up statewide, according to the Wall Street Journal. While Governor-elect Andrew Cuomo has pledged to rein in tax increases, capping property tax hikes to 2 percent a year, local officials across New York want to boost property taxes before he enters office. This is due in large part to budget shortfalls, which have been felt nationwide as well; according to the Empire Center for New York State Policy, a conservative policy group, property taxes would need to climb 3.5 percent to account for other costs. Cuomo, meanwhile, remains stalwart in his tax stance. “Governor-elect Cuomo has proposed one of the most aggressive property tax caps because he believes New Yorkers are overtaxed and deserve real tax relief,” a Cuomo spokesperson said. [WSJ]