NY commission calls for property tax cap

By: The Associated Press

Monday, June 2, 2008 3:05 PM EDT

ALBANY -- A special commission recommends that New Yorkers' property tax increases be capped at 4 percent a year.
That would be about half the rate of average school tax increases in the last few years.

A school district could exceed the limit if 55 percent of voters approve an increase.

The commission headed by Nassau County Executive Tom Suozzi also calls for reform of the state's STAR tax subsidy designed to lower school taxes.

The commission recommends a so-called "circuit breaker" that would give a tax break to the most hard-pressed New Yorkers. The reform would base tax bills on income, rather than on the market value of property.

New York's local property taxes are among the nation's highest.

For more on this story, read Tuesday's edition of The Citizen.

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brew1234 wrote on Jun 3, 2008 12:56 AM:

" In Massachusetts the cap on property tax is 2.5% a year. The budgets are tight but it works. The state was the highest taxed state a decade ago and is now rated 28th in the taxation rate for taxes overall. This cap makes local governments tighten their belts as state aid will go down. "

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