$2B property tax break won't apply to NYC residents

From our esteemed governor:

By almost any measure, New Yorks real property taxes are the highest in the nation with an average residential bill of $5,040. In addition, three of the top four highest county median tax bills in the country are in New York. And New York is one of only 10 states where a resident can live in three general purpose local governments at the same time. There is no reason for New York to have nearly 10,500 separate forms of local governments; many of which provide overlapping or duplicative services.

Governor Cuomos proposal will freeze property taxes for two years, subject to two important conditions. In year one, the State will only provide tax rebates to homeowners who live in a jurisdiction that stays within the 2% property tax cap. In year two, the State will only provide tax rebates to homeowners who live in a locality that stays within the cap and also agrees to implement a shared services or administrative consolidation plan. The freeze will not apply to New York City, which does not have a property tax cap. Once fully implemented, this tax relief proposal will provide nearly $1 billion in relief with an average benefit of approximately $350 for nearly 2.8 million homeowners.