Short Term Property Tax Relief and Long Term Tax Reform: An Omnibus Approach

March 1, 2011. At the public hearing on the Governor’s proposed “Cap on Real Property Taxes” before the Assembly Standing Committees on Ways and Means, Education, Real Property Taxation, Local Government and Cities, Frank Mauro, FPI’s executive director, explained why a cap on real property taxes would not effectively protect those most in need of property tax relief, and would exacerbate inequities in the current school finance system. In the short run, a property tax circuit breaker would provide effective and targeted relief. Over time, New York should reform its state-local tax system by having the state gradually assume responsibility for the financing of a greater share of the essential services that New York State provides through its local governments. Testimony >>

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