Cuomo signs property tax cap bill into law

TRD New York /
Jun.June 30, 2011 03:40 PM

Governor Andrew Cuomo was making the rounds in New York City suburbs today, signing a statewide property tax cap legislation in Westchester and Nassau counties, his office announced. The new law, which has been kicked around the state government for more than 15 years, caps property tax increases at 2 percent, or the rate of inflation, whichever is less. Only a 60 percent vote in local communities override Cuomo’s legislation. “We are beginning a new era in which New York will no longer be the tax capital of the nation,” Cuomo said. Nassau County taxpayers pay the highest property taxes in the country, with a median tax bill of $8,478 per household, compared to the nationwide rate of $1,917. Westchester taxpayers are the second-most burdened, paying $8,474 in annual property taxes. Cuomo physically signed the bill in a home in Nassau County and a home in Westchester county, each of which boasted owners with four children and a patriarch that owns a small business. — Adam Fusfeld


Related Articles

arrow_forward_ios
Governor Andrew Cuomo and Senator James Skoufis (Credit: Getty Images, NY Senate)

Owners of some residential properties can’t hide behind
LLCs anymore

Governor Andrew Cuomo and 538 Johnson Avenue in Brooklyn (Credit: Google Maps and Getty Images)

Landlords take another hit: Cuomo signs expanded Loft Law

Governor Andrew Cuomo (Credit: Getty Images)

Cuomo wants to exempt NYC from prevailing wage bill

State Senator Julia Salazar and Assemblymember Harvey Epstein (Credit: Getty Images)

Pols take aim at private equity with new plan to tax mezz debt

From left: Deputy Mayor of Housing and Economic Development Vicki Been, Sen. Brian Kavanagh (inset), Brooklyn Borough President Eric Adams, State Division of Homes and Community Renewal Commissioner Ruthanne Visnauskas (inset), Council member Keith Powers, with Governor Andrew Cuomo and Mayor Bill de Blasio (background) (Credit: Anuja Shakya, Getty Images)

Politico shows and no-shows: What public officials attended the REBNY gala?

Governor Andrew Cuomo (Credit: Getty Images)

Cuomo rakes in real estate cash — but not from LLCs

Donald Trump with Rep. Emanuel Cleaver II, Rep. Ron Kind and Sen. Cory Booker (Credit: Getty Images, iStock)

Trump’s Opportunity Zone program is under investigation

Rep. Alexandria Ocasio-Cortez, Governor Andrew Cuomo (inset) and a rendering of LaGuardia's AirTrain (Credit: Getty Images, ANewLGA)

AOC joins in fight against Cuomo’s $2B LaGuardia AirTrain project

arrow_forward_ios
Loading...