New York lawmakers have started changing some of Gov. Andrew Cuomo’s proposals.
One of the governor’s top priorities is capping property taxes at two percent per year or the rate of inflation, whichever is less. Assembly Speaker Sheldon Silver, a fellow Democrat, says his conference is worried that could hurt school districts. They are considering additions to allow districts to suspend a cap due to certain emergencies.
Silver also is not sure if they will be willing to let a temporary income tax surcharge on wealthy New Yorkers expire this year as Cuomo has proposed.
Republicans have the majority in the Senate. Local Senator Tom Libous, the party’s second-in-command, says they are looking at both issues. Senate Republicans have long pushed for a cap on property taxes.
