7/7/2011 - New York state’s first ever property tax cap was passed recently, bringing some relief to one of the country’s highest-taxed areas. Approved on June 24, the bill limits property tax levy increases to 2% or the rate of inflation, whichever is less.
The cap is slated to take effect for the 2012 fiscal year for local governments and the 2012-13 school budget year. …
State Senator Greg Ball, whose 40th District includes Lewisboro and Katonah, also supported the cap.
“Sky-high property taxes have made the American dream of homeownership a nightmare for many New Yorkers,” he said in a press release. “I’m proud to say that nightmare, both throughout New York and in the Hudson Valley, will soon be over.” (READ MORE)