Group Introduces Legislation to Cap School Property Tax Increases

The organization “Unshackle New York” recently submitted legislation that would impose a cap on property tax increases. Municipalities and school districts would be capped at 2.5% per year. Additional increases above the cap would have to be approved by voters.

This is similar to legislation previously adopted in Massachusetts, Proposition 2.5. Since its inception, Massachusetts property taxes have dropped from 3rd highest in the nation to 33rd. At the same time, they have seen an increase in high school graduation rates that now surpasses New York and students have some of the highest scores on standardized tests in the nation.

New York is home to the 10 highest taxed counties as a percentage of home value in the country – most of which are located in Upstate New York. A recent Sienna Research Institute poll found 76% of New Yorkers feel a cap on property taxes is needed.

For more information on the proposal or to learn more about Unshackle New York, visit their website.

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