Senator Patrick M. Gallivan (R-C-I, Elma) joined colleagues in the New York State Senate in once again passing legislation to make the property tax cap permanent, ensuring the continuation of a measure that has already saved taxpayers an estimated $23 billion since 2012. The bill (S1904) would make the property tax cap permanent statewide, except in New York City where no cap is currently in place. The cap is scheduled to expire in 2020.
“The property tax cap has been very successful in putting an end to skyrocketing taxes in communities across the state,” Gallivan said. “New York property owners pay some of the highest taxes in the country and the only way to limit spending and get property taxes under control is to make the tax cap permanent.”
The cap limits the annual growth of property taxes levied by local governments and school districts to two percent or the rate of inflation, whichever is less.
The Senate passed the bill on a vote of 58-2. It has been sent to the Assembly.