Governor releases data report on tax cap

Gov. Andrew Cuomo released a report on Wednesday, June 3, detailing savings to taxpayers as a result of the state’s property tax cap, which was passed in 2011. The report analyzes the first three years that the cap was in effect. It concludes that the typical property tax payer saved more than $800 during those first three years and projects a savings of $2,100 in local property taxes by 2017.

NYSAR played a pivotal role in establishing a property tax cap and continues to support tax relief for property owners. Additional data, including estimated cumulative savings by county, can be found here.