Albany, NY -- Senator David Carlucci 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 Rockland and Westchester Counties, and all New York communities.
Rockland and Westchester have some of the highest property taxes in the nation. We must ease the burden on hardworking taxpayers, especially in the wake of the federal government's $10,000 cap on state and local tax deductions. The property tax cap offers homeowners relief and stability," said Senator David Carlucci.
The property tax cap passed in 2011 and extended for 4 years in 2015, prevents increases in real property taxes from exceeding 2% of the previous assessment or the rate of inflation. The passage of the permanent tax cap will provide financial stability to property owners throughout New York State.