The Real Deal New York

Cuomo’s bid to cap property tax hikes gains Long Island biz backing

January 28, 2019 02:47PM

The Long Island Association wants to make permanent a New York State cap on increases in property taxes, Newsday reported. The Melville-based nonprofit chamber of commerce, Long Island’s largest pro-business group, released its position and others last week as part of an effort to influence budget negotiations between Gov. Andrew Cuomo and the state legislature. The budget is due April 1. State law limits increases in property taxes by school districts and other local governments to 2 percent. But as written now, the law, first enacted in 2011, but be periodically renewed. Cuomo has already backed making the law permanent, but school districts and teachers’ unions are opposed to a property tax cap. According to the governor’s office, the law has helped the typical New York homeowner save $3,200 during the past six years. [Newsday]