Senate passes bill to cap property tax growth
Homeowners across the borough and the state may see some tax relief, if the State Senate has its way.
On Thursday, March 19, the legislative chamber passed a bipartisan bill that would impose limitations on real property tax levies and cap growth of property taxes at two percent (or the Consumer Price Index, whichever is less).
“On a regular basis, throughout my district and across the five boroughs, people speak to me about the increased cost of property taxes and the effect on their personal family budget,” said State Senator Marty Golden, who helped pass the bill in the Senate.