Governor puts property tax cap into law

Cuomo signed the tax cap law in Lynbrook on Thursday. He is surrounded by, from left, Sens. Kemp Hannon, Charles Fuschillo, Dean Skelos and Lee Zeldin.

Courtesy Brianna Barbieri

Emily O'Brien, 10, will long remember meeting Gov. Andrew Cuomo when he came to Central Avenue in Lynbrook to sign the tax cap law.

Courtesy Susan Soper O'Brien

Cuomo, left was joined by Assemblyman Brian Curran and Sen. Dean Skelos at the signing of the law during a press conference in Lynbrook.

Courtesy Assemblyman Brian Curran's office

• 
• 
• 

Governor Andrew M. Cuomo signed New York’s first property tax cap at the home of James and Janet Gannon in Lynbrook on June 30.

“For decades, taxpayers across New York state have been burdened by back-breaking property taxes that have crippled businesses and families,” Cuomo said. “It is appropriate to sign this property tax cap at the Gannon household, as millions of homeowners like them have had the deck stacked against them for too long. This tax cap is a critical step toward New York’s economic recovery, and will set our state on a path to prosperity.”

The tax cap, Cuomo said, will deliver relief to millions of home and business owners across the state.

In its search for a place to sign the law, the governor’s office narrowed it down to Long Island, and then to Lynbrook according to James Gannon. “We may be the ‘typical homeowner,’” said Gannon, 52, who has owned his home on Carpenter Avenue for 25 years. “I’ve lived here almost my whole life. I’m hopeful that [the tax cap] will work … I would love to see the kids getting out of [college] be able to afford to live here.”

James Gannon is a small business owner and his wife, Janet, is a nurse at the Shore Road School. Their children are 22, 20, 17 and 14, and their oldest just graduated from college. “I’m not sure how he would even be able to afford a down payment,” Gannon said. “The taxes are now what my mortgage used to be when I bought this house.”

The Gannons pay nearly $11,000 a year in property taxes — close to three times the median property tax bill in New York state. Residents of Nassau County pay the highest property taxes in the nation, with a median property tax bill of $8,478 per household. In comparison, the median U.S. property tax bill is $1,917, while in New York the median property tax bill is $3,755.

Under the new law, property tax levy increases will be capped at 2 percent or the rate of inflation, whichever is smaller. Local voters in school or municipal elections can override the cap with a 60 percent majority.

“This plan will put an end to sky-high property tax increases and will help our state get back on the right financial track,” said Nassau County Executive Edward Mangano. “This is a great moment for Nassau County and for all of New York state.”