Business Council Says Evidence Builds on Need for Property Tax Cap

ALBANY, NY (05/16/2011)(readMedia)-- "Each day shows more reasons why New Yorkers need a property tax cap and lower government spending," said Heather Briccetti, acting-president & CEO of The Business Council of New York State, Inc. "The news continues to show business climate rankings where New York is near the bottom of all states, polls show young New Yorkers leaving the state, and continued research shows New York's property taxes to be much higher than most states."

"Failing to enact a property tax cap and reforms to lower the cost of state and local government will continue driving jobs and people out of the state," added Briccetti.

Among new information supporting a tax cap and lower government costs:

In a survey conducted by The Business Council of New York State, Inc., manufacturers were asked what they perceived to be the biggest government hurdle facing manufacturers in New York. Nearly one-third of respondents thought that property taxes were the most significant barrier, and 75 percent rated property taxes as an important hindrance to the sector.

The NY1-YNN-Marist College poll released Thursday night finds 1 in 3 New Yorkers under age 30 plan to move to another state at some time, while 1 in 4 adults overall plans an exodus from the Empire State within five years.

A new survey by Chief Executive Magazine of 550 CEOs ranks New York's business climate 49th in the nation.

A new report from The Empire Center shows that New York's highest property tax rates are in areas of the state with low property values that can least afford these taxes.

"New York must lower the cost of government to create jobs and rebuild our private sector economy. That must start with a real property tax cap. That must be followed by reforms that allow local governments and school districts to control and lower their costs, especially pension, health care benefits and other labor costs," concluded Briccetti.

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