NY's Governor Keeps Property Tax Cap In Place

09.18.12 | Sarah Harnisch

New York state's property tax cap will stay at 2-percent. Governor Andrew Cuomo won wide support last year when he said local towns can't raise your property taxes more then 2-percent a year. Well, he's done it again. For the second straight year, the mandate will stay in place. The cap took effect for local governments last January, and school districts last July. The state comptroller's office predicted inflation will grow in the state by nearly 3 percent, so you'll be paying less on your property taxes then the rate of inflation. 90 percent of school districts across the state stayed under the tax cap this year, but they said they'll be hard pressed to do it again.