NY State Legislature Plans Changes to Cuomo's Tax Cap

by Associated Press
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Governor Andrew Cuomo
Saebaryo, flickr

New York's Legislature has started reshaping some of Governor Andrew Cuomo's key proposals.

Legislative leaders say they are working on changes involving one of Cuomo's top issues: capping the growth of property taxes that are among the highest in the nation.

Cuomo wants those taxes to grow by only 2 percent a year or the rate of inflation, whichever is less. But Assembly Speaker Sheldon Silver said Monday he is considering additions to the proposed list of expensive emergencies that could allow school districts to suspend the cap.

The Democrat also said he isn't sure if the temporary income tax surcharge on wealthier New Yorkers should be allowed to expire this year as Cuomo plans.

Republican Senator Thomas Libous says the Senate majority is analyzing both issues.

 

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