6/3/08

Union political front-group: Nix tax cap

Proposal would harm income redistribution

The Working Families Party calls a property tax cap proposal "merely a gimmick," while the Business Council says it offers a real chance to make New York's economy competitive again. New York's local property taxes are the highest in the nation, 79% above the national average.

Yesterday, a special commission recommended that New Yorkers' property taxes be capped at 4% a year, among other reforms.

The Commission on Property Tax Relief's recommendations are subject to approval by Governor Paterson and the Legislature.

Dan Cantor of the Working Families Party said the tax cap neither cuts taxes for those who can't afford them, nor promises state aid to make tax hikes unnecessary.

(wcax.com)

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