Larkin Calls For Commission On Property Tax Reform
Senator Bill Larkin (R-C, Cornwall-on-Hudson) today joined Senator Betty Little of Queensbury to call for a statewide Blue Ribbon Commission on Property Tax Reform. The senators also proposed a constitutional amendment that would base real property assessments on a single statewide standard of assessment.
"It is clear that the real property tax system in New York State needs to be restructured," said Senator Larkin. "Property taxes have increased 42 percent in five years alone, making New York State's property taxes the fourth highest in the nation. That is why we are calling for the creation of a Blue Ribbon Commission on Property Tax Reform with experts whose only purpose is to work on the most beneficial ways to restructure the property tax system in New York State and give hard working New Yorkers the break they deserve."
Senators Larkin and Little also proposed an amendment to the New York State Constitution that would assure property owners that their real property taxes are based on the fair and equitable assessment of their property. The proposal states that real property assessments would be (1) based on a single statewide standard of assessment; (2) made pursuant to a uniform three year assessment cycle; and (3) determined on a countywide basis. A statewide real property tax assessment standard would be developed by the State Office of Real Property Services which would be used by every county to determine assessments within the county.