Governor Andrew Cuomo signed what he called the toughest property tax cap in the nation, as part of his vow to end New York’s reign as the “tax capital of the nation.”
That has put pressure on local governments who say they will be hard-pressed to raise revenue they need to fund the services they provide and keep staffing at their current levels.
Let it not be said that Cuomo’s office is completely inflexible when it comes to giving localities the discretion to tax residents.
Today, Cuomo’s office announced he signed into law a slew of bills extending a 1 percent increase in sales and “compensating use” taxes at the county level. (Most are renewals of increases to local taxes that have passed previously. Some, though, are new, like Herkimer County’s additional 1.25 percent.) Read More