Property Tax Reform Legislation Update

By Joe Bisicchia
Showing a unified democratic stance, Senate President Stephen Sweeney and Assembly Speaker Sheila Oliver joined Assembly Budget Chairman Louis Greenwald in announcing their plan to revise the state’s arbitration system.  The bill will require arbitrators for the first time to convincingly prove that they have included the recently approved property tax cap in the final decision. The issue arose regarding the role of municipalities and home rule; how to give them power to cut costs, but also taking power from them in consolidation.

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