New York State Senate Looking At The Tax Law

The new Democratic leader of the New York state Senate is working on changing the tax law. Karen Johnson reports.

She wants to make a cap on local property tax increases permanent.Sen. Andrea Stewart-Cousins of Yonkers announced her support Wednesday, the first day of the 2019 session and Stewart-Cousins’ first day as the Senate’s top lawmaker.Republicans and Democratic Gov. Andrew Cuomo already support legislation that would eliminate the need to periodically extend the cap, which is set at 2 percent or the rate of inflation, whichever is lower.First imposed in 2012, the cap restricts how much local governments can increase property taxes without a special vote by local officials, or, in the case of schools, a vote by local residents. It was created as a way to encourage local governments to become more efficient.