Incorrect diagnosis of New York’s property tax “problem” will lead to a remedy that is likely to do more harm than good

June 10, 2011. Massachusetts’ experience with Proposition 2½ does not support the claim that a cap of the type proposed by Governor Cuomo is workable let alone desirable. If a hard cap of the lesser of 2 percent or the rate of inflation, with no overrides, had been in effect in Massachusetts since 1981-82, that state’s property tax revenue would be about 60 percent less than it currently is. The Governor’s proposed cap would undermine the quality of the entire array of locally funded public services while providing very little relief to those homeowners who are most overburdened by real property taxes. New York can learn from the Massachusetts experience but not if it ignores the reality of that experience. Analysis >>