New York Majority Supports Statewide Tax Cap Plan

James T. Madore & Melissa Mansfield:

The hurdles to adoption of property tax relief were on display here yesterday as the Senate touted a plan that was immediately dismissed by the Assembly, while Gov. David A. Paterson stood by his controversial tax cap.
The contradictory moves occurred hours after the Siena Research Institute released a poll showing 74 percent of voters back Paterson’s bill that would cap increases in school property taxes at 4 percent a year. On Long Island and in other New York City suburbs, support for the tax cap was even higher: 76 percent.
Still, the Senate’s Republican majority argued it has a better plan: to allow school districts to eliminate the residential property tax as a funding source over five years and replace the lost revenue with greater state aid. The GOP bill also would permit districts to cap their tax levies through successful petitioning by residents.