According to over 20 hypothetical polls for the November 4, 2014 upcoming gubernatorial election, Andrew Cuomo will remain New Yorks’ Governor.
Governor Cuomo in recent ads is calling for taxes to be reduced. Whose taxes and on which property type is unclear at this time. We all can use tax breaks. Let’s hope this tax break applies to all property types. Not only does property taxes need to be reduced throughout New York City but so do assessments.
Even though Governor Cuomo helped place a cap on local property taxes, assessments still increased which in turn resulted in more money out the pockets of homeowners. Rob Astorino who is running against Cuomo wants to make the cap on property taxes permanent. The cap which limits property tax increases to two percent per year or the rate of inflation, whichever is lower, is set to expire next year. Governor Cuomo also says he wants to make the cap on property taxes permanent.
In conclusion, it does not seem to matter who the Governor will be with regards to the property tax issue. However, the real estate community won’t forget who not only spoke of a property tax cap but who implemented it as well.