Assemblymember Pamela J. Hunter (D-Syracuse) announced that she helped pass a responsible 2019-20 state budget that makes the 2% property tax cap permanent and includes vital funding for Aid and Incentives to Municipalities (AIM).

“Hardworking Central New York families shouldn’t have to live with the uncertainty of skyrocketing taxes each year or the fear of being priced out of their homes,” said Hunter. “We should be doing everything we can to make our state welcoming and affordable. Making the tax cap permanent will give residents peace of mind, help local businesses and move our region forward.”

The 2% property tax cap was set to expire next year. Making it permanent limits the annual growth of local property taxes to 2% or the rate of inflation, whichever is lower. Implemented in 2012, the tax cap has saved New York property taxpayers $25 billion statewide, including $1.2 billion in Central New York.[1] Additionally, the budget continues the phase in of middle-class tax cuts to help hardworking families.

To further limit expenses to taxpayers, the budget includes $715 million in AIM funding despite proposed cuts in the executive proposal. AIM is a vital source of state aid that helps localities fill budget gaps. Without the funding, localities would have had to choose between raising property taxes and slashing essential services that can include trash pickup and snow removal. Maintaining the funding is an enormous victory to communities in Central New York, noted Hunter.

[1] wrvo.org/post/hochul-pushes-permanent-tax-cap-syracuse