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

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

Landlords take another hit: Cuomo signs expanded Loft Law
Governor Andrew Cuomo (Credit: Getty Images)

Cuomo wants to exempt NYC from prevailing wage bill

Cuomo wants to exempt NYC from prevailing wage bill
Bill de Blasio and Andrew Cuomo, with (from left) Steven Roth, Jeff Blau, Rob Speyer, Douglas Durst, Ziel Feldman and Steven Schwarzman (Getty)

Real estate execs to city, state: Let us help with recovery efforts

Real estate execs to city, state: Let us help with recovery efforts
A lawsuit seeks to dismantle Gov, Andrew Cuomo’s midnight food curfew by arguing coronavirus is not a vampire (Getty; iStock)

Nail in the coffin: Eatery says Cuomo’s biz-killing curfew treats virus like vampire

Nail in the coffin: Eatery says Cuomo’s biz-killing curfew treats virus like vampire
Gov. Andrew Cuomo and Attorney General Letitia James (Getty)

Last-minute reprieve stops city’s tax lien sale

Last-minute reprieve stops city’s tax lien sale
(iStock)

Malls to reopen, but what can shoppers expect?

Malls to reopen, but what can shoppers expect?
Gov. Andrew Cuomo (Getty)

NY Fashion Week gets go-ahead with (very) strict limits

NY Fashion Week gets go-ahead with (very) strict limits
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...