NYACK – Governor Andrew Cuomo came
to Nyack on Wednesday to call on the state legislature to extend the two
percent property tax cap before they adjourn this month.
The cap has succeeded in “taming out-of-control property tax increases
throughout this state and it must be extended to ensure property taxpayers
continue to be protected from the crushing burden of skyrocketing tax
increases,” the governor said.
He said through the first three years of the cap, the typical property
taxpayer has saved over $800, compared to if taxes had continued to grow
at the previous growth rate. He said if the trend continues, by 2016,
the typical taxpayer will have saved more than $2,100 in local property
taxes.
In the Mid-Hudson Valley, the 10-year average annual growth rate from
2000 to 2010 was 6.2 percent. The average of proposed growth in the first
three years of the tax cap was 2.3 percent.
Cuomo said the estimated cumulative savings over three years was $1,203
in Dutchess County, $1,380 in Orange; $1,811 in Putnam; $2,042 in Rockland;
$900 in Sullivan and $1,039 in Ulster.
Over a five-year period, the estimated savings would be $3,184 in Dutchess;
$3,650 in Orange; $4,790 in Putnam; $5,402 in Rockland; $2,381 in Sullivan;
and $2,749 in Ulster County.
