Monday, July 25, 2011

NY SENATE LEADER SEES TAX AND RENT DEAL MOVING - WTEN NEWS

ALBANY, N.Y. (AP) - New York Senate Republican Leader Dean Skelos says a package of legislation including a statewide property tax cap, continuing New York City rent controls and providing state mandate relief to local governments remains on track.
Speaking after a closed-door meeting with Gov. Andrew Cuomo, Skelos says some technical language is still being completed, but he's hopeful it would be passed Thursday.
Expiring city rent controls on about a million apartments would continue for at least four more years while raising rent and tenant income thresholds that allow landlords to deregulate them.
A property tax cap would generally limit annual increases to 2 percent.
Public schools and local governments would be relieved from some state mandates that can increase the cost of construction projects and in labor negotiations.




Source: http://www.wten.com/story/14964435/ny-senate-leader-sees-tax-and-rent-deal-moving




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