Senator Biaggi and the Senate Majority have passed legislation to protect taxpayers by making the property tax cap permanent. After years of uncertainty on the future of property taxes, this is a major win for Westchester and all New York communities.
“I have seen far too many of my neighbors in our district at risk of losing their houses. Federal tax policy has been weaponized against us. Our homeowners deserve some tax protection against that assault,” Senator Biaggi said. “The uncertainty around sky-high property taxes, which have long plagued the residents and families of New York, ends today.”
The property tax cap passed in 2011, and extended for four years in 2015, prevents increases in real property taxes from exceeding 2%. The passage of the permanent tax cap will provide forward-thinking financial stability to property owners throughout New York State.
“We are ensuring that people are not driven from their homes by high property taxes. We now must also prioritize that schools are being properly funded. Let’s remember that good schools are essential to maintaining property values." Senator Biaggi concluded.