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.