Question of the Day: Is Cuomo's 2 Percent Tax Cap the Way To Go?

Gov. Andrew M. Cuomo and state legislative leaders announced they have agreed to place a 2-percent limit on property tax increases. The full legislature has yet to vote on the issue.

According to a New York Times article, the proposed property tax cap is aimed at reversing the economic decline in many parts of the state and seeks to curb rising property tax bills in areas, including Westchester County, where residents are facing some of the country’s highest property taxes.

The article also states that the agreement, which would take effect next year, "would limit the annual increase in the overall amount of property taxes collected by a local government or a school district."

The story reports that three of the five highest-taxed counties in the nation were all in New York: Nassau, Westchester and Rockland counties.

Bedford Central and Katonah-Lewisboro's 2011-2012 school district budgets both recently passed by comfortable margins.

In Katonah-Lewisboro, the tax levy is set to rise by 2.98 percent. The tax rates for Bedford, Lewisboro, North Salem and Pound Ridge will increase by 1.71 percent, 5.43 percent, 7.33 percent and 7.87 percent, respectively.

In Bedford Central, the tax levy will increase by 1.8 percent. For the tax rates, Mount Kisco will see an increase of 11.2 percent; a decrease of 3.01 percent in Bedford; an increase of 2.86 in Pound Ridge; an increase of 7.25 percent in New Castle and an increase of 3.4 percent in North Castle.

In Bedford town officials have come out

Read more on the details of the agreement in Danny Hakim’s New York Times article here.

Today's Question: Are you for or against the 2-percent property tax cap lawmakers have agreed on for next year?