He reiterated that cap on SALT deductions is an “egregious act of partisanship that targets Democratic states to pay for tax cuts in Republican states.”
Cuomo has been fighting and implementing policies to help New Yorkers avoid the negative impact of the cap on SALT deductions. Now, he wants the two percent local property tax cap permanent.
Two percent property tax cap help New Yorkers save billions of dollars
According to him, “The 2 percent property tax cap changed long-term trends, and saved New Yorkers nearly $25 billion. On Long Island, it has saved taxpayers $8.7 billion, with the typical Nassau taxpayer saving $7,611 and the typical Suffolk taxpayer saving $6,284.”
The governor pointed out that the cap on local property taxes “has been a success.” Middle-class New Yorkers cannot afford to return to paying skyrocketing property taxes.
“That’s why in this year’s budget I call on the State Legislature to make the 2 percent property tax cap permanent. I will not sign a budget that does not include a permanent tax cap,” said Cuomo.
