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NY Property Tax Cap Proposal Praised by Governor, Welcomed by Senate

http://stream.publicbroadcasting.net/production/mp3/wamc/local-wamc-970408.mp3

Albany, NY – There's been a breakthrough in the push to get a property tax cap enacted in New York. Assembly Speaker Sheldon Silver has proposed a plan that's being praised by the governor and cautiously welcomed by the State Senate. Capitol Correspondent Karen DeWitt reports...

The Assembly Democrats plan would exempt some costs from a 2% tax cap, like some pension costs, and it would also be temporary, sunsetting in four or five years.

Assembly Speaker Silver says other major policy changes have expiration dates, like New York City's rent regulations, and he says the two issues will be tied together.

"These two are inextricably linked," said Silver.

The battle may shift now to reform of the rent regulations, which expire on June 15th. Senate Republicans say they want the laws simply extended, Silver and Governor Cuomo, want changes.

In Albany, I'm Karen DeWitt.