ALBANY, N.Y.—To cap? Or not to cap? That seems to be the question when it comes to property taxes in New York State.
But, one group says the answer isn't a simple 'yes' or 'no.' The Omnibus Consortium thinks a property tax cap in New York is undeniably the wrong policy to establish.
"We want to see property tax reform," said Zimet, an Ulster County Legislator. "But, don't let anybody fool you. It's just a sound bite to make everybody think that the politicians in Albany are doing something to take care of property tax."
"You got a 450 pound woman, who is in cardiac arrest; you put a mini-skirt on her, and say she's cured. That's the cap," said Gioia Shebar, a tax reformist.
So, instead, this group of fiscal experts and tax reformers want to see New York create what's called a circuit breaker system. The circuit breaker takes into consideration both the amount people pay and The circuit breaker takes into consideration both the amount people pay and the income they have to make it.
Unlike a tax cap, the circuit breaker bases tax payments on a percentage of household income. This group is hoping to shift the debate from a tax cap, and open dialogue what they see as a better alternative.
Omnibus Consortium says a circuit breaker won't affect school or municipal funding. Taxpayers will simply pay their tax in full when it's due and see a credit or rebate from the state.
"So, in the long run the way to reduce the pressure on the property owner is to have the state pay for more of a share of those essential services," said Frank Mauro.