The effort to make New York State’s property tax cap permanent took a significant step forward recently when the new Democrat majority in the State Senate passed the measure as part of its 2019 priorities package. The Buffalo Niagara Partnership has been a longtime champion of the property tax cap and has been a leading advocate for both its creation and extension. The call to make it permanent is a part of our 2019 Advocacy Agenda.
The State Senate joined an earlier call from Governor Andrew Cuomo to make the cap permanent in 2019. Now, all eyes turn to the State Assembly as advocates push for a legislative agreement to make the cap permanent.
There is vast support across the state to make the property tax cap permanent. New York has some of the highest tax rates in the nation. In fact, the annual Tax Foundation study finds that New York has the third worst state business tax climate in the country.
A significant factor in that ranking is our state high property tax burden, currently listed as the fourth highest in the nation by the same study. Without the permanent tax cap, our state will continue to see an alarming pattern of outmigration to states with a less burdensome tax climate.
The tax cap is working. Since its enactment in 2011, the property tax cap has saved homeowners and business owners in New York State billions of dollars and taxpayers have seen some of the lowest property tax growth rates in decades.
The cap has held local governments and school districts to responsible spending and helped curb additional burden on homeowners and business owners across the state. If New York wants to compete to retain and attract residents, steps must be taken to create an affordable place to live and do business.
Join our effort and voice your support for keeping the cap. Click below to use our online advocacy tool to tell your member of the New York State Assembly that you want to see the property tax cap made permanent.