Monday, January 7, 2008

Spitzer eyes cap on property taxes

Governor Spitzer, in his State of the State address on Wednesday, will signal support for imposing a cap on local property taxes in New York, which tower over the national average despite billions of dollars spent by Albany to ease the burden.

Spitzer Is Set To Cap Taxes on Property

As a candidate, Mr. Spitzer vowed to tackle New York's property taxes, which are 56% higher than the national average on a per-capita basis, according to 2005 data. Unlike his Republican challenger, John Faso, Mr. Spitzer rejected the idea of cap on property taxes, but he has softened his position since taking office.

In August, he acknowledged that state efforts to lower property taxes by subsidizing school budgets and mailing rebate checks to homeowners were undermined by the expanding budgets of school districts and local governments.

It is not clear if Mr. Spitzer would favor placing a percentage cap on local or school tax levies, or restricting annual growth in home assessments.

5 comments:

Anonymous said...

Maybe Spitzer's earlier brass balls position
against capping property taxes is softening because
they're being squeezed by the voting public!

Anonymous said...

It's about time! Taxes in Nassau and Queens are becoming outrageous!

Liman said...

The large print giveth and the small print taketh away. He'll smile and talk about protecting the middle class (which he looks down his snooty nose at) and will put some kind of lid on property tax. Sort of. With wiggle room. BUT, you can count on your state INCOME TAX going up.

Come to think of it, it's the rich who benefit the most from limiting property tax. And it's the rich who can find the tax dodges to minimize the impact of an income tax rise.

Anonymous said...

People must pay a school tax per child period.

These central americans running across our borders dont use birth control. All these anchor babys are going to bankrupt our country.

Anonymous said...

I have no sympathy
for Nassau & Westchester county residents.

These are some of the same bigots that left NYC
in the early 70s (remember "White flight") to escape
those undesirables moving into their nabes.

You get what you paid for.

By the by.....
how about capping NYC's real estate taxes.....
which are escalating at an alarming rate.