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Cuomo Signs Property Tax Cap Bill

Historic legislation finalized in Lynbrook.

Gov. Andrew Cuomo traveled to Lynbrook to sign a bill Thursday authorizing a property tax cap in New York.

Assemblyman Brian Curran, R-Lynbrook, and Lynbrook Mayor Bill Hendrick were on hand for the signing at the home of village residents James and Janet Gannon

"For decades, taxpayers across New York state have been burdened by back-breaking property taxes that have crippled businesses and families," Cuomo said. "It is appropriate to sign this property tax cap at the Gannon household, as millions of homeowners like them have had the deck stacked against them for too long. This tax cap is a critical step toward New York's economic recovery, and will set our state on a path to prosperity."

Under the cap, property tax increases will be limited to 2 percent or the rate of inflation, whichever is less. Municipalities, such as school districts, could override the cap with 60 percent of voters participating in an election.

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