News

Issues and events that shape Long Island's economic and legislative landscape.

Sunday, April 20, 2014

LIA Announces Support of Governor-Elect Cuomo's Calls for a Property Tax Cap

The Long Island Association, the largest business association in New York State, announced its formal support for Governor-Elect Andrew Cuomo's calls for a 2% property tax cap, which the LIA believes can provide property tax relief, if certain items are also adopted, as Governor-Elect Cuomo has proposed.

The LIA believes a property tax cap will only be successful if:

  • New York State spending is reduced to address the current deficit and the future growth in state spending is also capped;
  • Unfunded state mandates on school districts and municipalities are significantly reduced;
  • Growing pension and health benefit plans currently offered within the state and municipal employment systems are brought into line with those in the private sector;
  • Medicaid costs are reduced to bring them in line with the other 49 states; and
  • An economic development program is implemented with sweeping job creation initiatives.

"Long Island suffers from some of the highest property taxes in the nation and it negatively impacts the business climate and the opportunities for businesses to locate or expand here," said LIA President and CEO Kevin S. Law. "The Governor-Elect's tax cap plan can be the impetus for sweeping reform which must occur for our region and New York State to prosper once again. As the Governor-elect has said, the tax-cap is part of a series of initiatives that he will put forward to address the systemic high costs and taxes that have been ongoing for far too long. We need to ensure the municipal services we desire are not negatively impacted, nor that our students bear the brunt of any cuts, and that is why, as Governor-elect Cuomo has said, a property tax cap should be paired with initiatives to cut spending and create jobs," Law added.