Governor Cuomo promises to CAP real estate taxes because he believes they are too high.
Governor Cuomo’s NYS Real Estate Tax Facts: ( http://tinyurl.com/2ed83fo )
1. Property tax levies in New York grew by 73% from 1998-2008, more than twice the rate of inflation during that period.
2. New York has 2nd highest combined state and local taxes in the nation and the highest local taxes in America as a percentage of personal income, 79% above the national avarage.
3. The median property taxes paid by New Yorkers are 96% above the national median.
4. When measured in absolute dollars paid Westchester (1st), Nassau (2nd), and Rockland (5th) counties are among the 5 highest taxed in the nation.
5. When property taxes are measuredd as a percentage of home values over a 3 year period, the top sixteen counties in the nation are all in upstate New York.