State Senator Hugh T. Farley (R, C, I - Schenectady) announced that he and his colleagues in the New York State Senate passed property tax relief legislation that enacts a cap on the growth of local property taxes.
The bill (S.5856) will cap school and local government taxes to less than two percent or the Consumer Price Index (CPI), whichever is lower. Mandate relief is also included, with $127 million in savings to local governments, in addition to the creation of a Mandate Relief Council to identify and repeal unsound, unduly burdensome laws and regulations.
This tax levy cap would shift the focus from total spending to the actual property taxes levied to support school district and local government expenses. The bill includes the following provisions: