Senators Lanza, Golden, Felder, Avella & Savino Announce Passage of Property Tax Cap Bill to Provide Relief to Taxpayers Living in New York City

Senators Andrew Lanza, Marty Golden, Simcha Felder, Tony Avella and Diane Savino today passed property tax relief legislation, Senate Bill S.3709, sponsored by Senator Lanza that would establish limitations upon real property tax levies in New York City. The bill places a cap on the growth of property taxes at two percent (or the Consumer Price Index (CPI), whichever is less).Senator

Martin J. Golden (R-C-I, Brooklyn) stated, "On a regular basis, throughout my district and across the five boroughs, people speak to me about the increased cost of property taxes and the effect on their personal family budget. This legislation, now heading to the State Assembly for passage, if signed by Governor Cuomo, will provide much needed property tax relief to property owners. I am proud to have championed this legislation with my colleagues Senators Andrew Lanza and Tony Avella, on behalf of all the families that call the New York City home."