Posted by Douglas Curella on Monday, January 31st, 2011
The New York State Senate today passed property tax relief legislation (S.2706) that would place a cap on the growth of school property taxes at two percent or the Consumer Price Index (CPI), whichever is less. If enacted, New York would become the 44th state to cap local property taxes. In addition, the Senate approved two measures related to providing mandate relief to school districts and local governments.
“ We need to keep residents and businesses in Western New York,” Senator Mark Grisanti said. “By supporting this legislation, this will ensure that small businesses and residents pay fewer taxes and remain in New York,” said Sen. Grisanti.
The bill, which is supported by business organizations across the state, includes the following provisions: