NEW YORK (WCBS 880) — Gov. Andrew Cuomo on Friday called on the state Assembly to pass legislation that would make the property-tax cap permanent in New York.
The governor notes that between 2004 and 2008 the average annual school property tax hike was nearly 7 percent, but with the 2 percent tax cap, taxes on Long Island are under control.
“Our 2 percent cap has saved Long Islanders $8.7 billion already,” Cuomo said.
The state Senate on Wednesday approved the bill that would make the property tax cap permanent in all areas of the state, except in the five boroughs.
Similar legislation was passed in the Senate in 2018, but never made it through the Assembly. Gov. Cuomo wants to ensure that does not happen again.
“Pass the permanent tax cap, make it permanent. No gimmicks, no caveats, no exceptions. Get that permanent tax cap passed in this budget,” Cuomo told Assembly members.
The cap was added in 2011 after Cuomo urged lawmakers to help limit the growth in property taxes. It’s set to expire in 2020.
He notes, “It’s critical for Long Island.”
Residents on Long Island pay among the highest property taxes in the country— more than half of the residents by more than $10,000 per year.
Cuomo is urging the Assembly to follow the state Senate in passing the legislation before the new fiscal year starts April 1.