Paterson submits bills for spending, tax caps
ALBANY, NY (WBNG Binghamton) New York Gov. David Paterson is submitting a bill that would cap the growth in state spending and another that would cap local property taxes.
The cap on state spending requires a constitutional amendment,
so subsequent Legislatures and governors couldn't rescind it
without a public vote.
Under his plan, state spending couldn't increase beyond average
inflation for the previous three years. If the Legislature approves
the bill, voters see the amendment on the 2011 ballot.
His property tax cap would hold annual increases to either 4
percent or 120 percent of the Consumer Price Index, whichever is
less.
New York has some of the highest local property taxes. They are
78 percent above the national average.
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