Senator Bill Larkin (R-C, Cornwall-on-Hudson), along with his Senate Republican colleagues, today unanimously supported legislation to enact a property tax cap, leading the way for its passage despite a lack of support from a quarter of the members of the Senate Democratic Conference.
"Taxpayers across the state have been crying out for real property tax relief," said Senator Larkin. "This property tax cap is a first step towards helping homeowners, particularly senior citizens, stay in their homes. I urge the Assembly to pass this legislation immediately and ease the burden on struggling homeowners throughout New York."
"Senate Republicans first passed a property tax cap in 2008 and since then, have continued to advocate for a cap in order to provide relief to New Yorkers who are overburdened by high property taxes," said Senate Republican Leader Dean Skelos. "Meanwhile, Senate Democrats voted last year to eliminate STAR rebate checks, costing New York families an average of $900, and voted against every amendment we brought to the floor to reinstate them. We need to do more to provide property tax relief to New Yorkers, and I am glad the unanimous support of our Republican Conference was able to lead to passage of a much-needed property tax cap today."
The legislation passed today would limit growth in the tax levy to four percent, or 120 percent of the Consumer Price Index (CPI), whichever is less.
Senate Republicans offered an amendment, sponsored by Senator Kenneth LaValle, to the property tax legislation that would enact a harder cap and provide more relief by capping property taxes at 2.5 percent or 120 percent of the CPI, similar to proposals that have been supported by Governor Paterson and Attorney General Andrew Cuomo.
"The amendment I offered today would keep New York State consistent with recent caps enacted by Massachusetts and New Jersey and other states," said Senator LaValle. "Our amendment would have provided even more savings for our taxpayers, and done more to ensure our local governments are responsible and disciplined in their spending."
Senate Democrats defeated the amendment.