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Finch: Possible Debate on Property Tax Cap Draws Closer

Governor puts property tax cap on table

 

     Assemblyman Gary D. Finch (R,C –Springport) today welcomed news of possible debate on a property tax cap proposal advanced by the Assembly Republican Conference. Governor Spitzer said in a speech earlier this week at Hofstra University that he would be willing to put the issue on the table for discussion.

 

     Earlier this year, Assembly Republicans proposed a property tax cap as part of their Property Taxpayer Protection Act (A.8775), which is a comprehensive package of legislation designed to control property taxes once and for all.

 

     Legislators and the governor agreed to expand the STAR program and created a Middle-Class STAR rebate, which, on average, will double most homeowners STAR rebates, however, Finch feels a more permanent solution needs to be explored.

 

     Finch points out that despite savings received under theSTAR program, many homeowners feel a property tax pinch not felt by comparable communities in other states. “In the last five years, property taxes have skyrocketed, which negates the benefits of the STAR rebate plan,” said Finch. “I strongly support the STAR program as it certainly helps a lot of my constituents, though a permanent solution is necessary.”

 

     “A property tax cap might not be the panacea but I am pleased the governor has put the issue on the table. By considering a cap and all other options, the governor and Legislature can approach the task from multiple angles and tackle high property taxes with the best possible solution.”

 

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