Permanent 2% Tax Cap Adopted in State Budget with Help from BCW
The Business Council of Westchester, which has been a vocal advocate for a permanent 2 percent cap on property taxes, achieved a major victory with the passage of the New York State Budget.
The budget adopted early Monday made permanent a 2 percent cap on local property taxes, which has saved New Yorkers $25 billion since its adoption. In 2011, New York enacted a tax cap which limited the growth of school and local property taxes to 2 percent or the rate of inflation, whichever is less. The cap was renewed in 2015. It was set to expire in 2020 but because it was legally tied to New York City rent-control laws, which end in June, action had to be taken this year.
“We are very gratified that the 2 percent tax cap has been made permanent,’’ said Marsha Gordon, President and CEO of the Business Council of Westchester. “We have spent many months working in support of the Governor on this measure. Keeping property taxes in check is vital to economic development and to the growth and health of our communities.’’
The BCW met with legislators in Albany to push for the tax cap, and as a member of the Tax Cap Coalition launched a digital campaign to support Governor Andrew Cuomo initiative. The BCW also joined Cuomo earlier this month for a press conference in Westchester to support the cap and federal tax reform.
Similar News Items
The Business Council of Westchester released its 2024 Legislative Agenda and called on state lawmakers to embrace policies that support a sustainable economy and job creation. The BCW produces the Annual Legislative Agenda each year for federal, state and local representatives on behalf of the business community. Among the recommendations in its 44-page report, the […]
The Business Council of Westchester is among 43 business organizations representing tens of thousands of businesses of all sectors and sizes across New York urging the Senate and Assembly to allocate funding in the Fiscal Year 2025 budget to address the unemployment insurance debt; as well as support the Governor’s proposals to sunset the state’s […]
Congratulations to the Burn Center at Westchester Medical Center on being verified by the American Burn Association (ABA) as an Adult and Pediatric Burn Center. The verification was made after a rigorous and thorough review of Westchester Medical Center’s burn care program. With this verification, BCW Member Westchester Medical Center is now home to the […]
Become A Member
Join the county’s largest and most influential business organization today.JOIN NOW!