Cuomo to cap growth in property taxes - WCAX.COM Local Vermont News, Weather and Sports-

Cuomo to cap growth in property taxes

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New York Governor Andrew Cuomo is set to deliver his State of the State address on Wednesday, but he decided to reveal one major element of his speech Monday -- his plans for tax reform.

Since taking office three years ago Cuomo has guided tax and spending reforms that have eliminated a $10 billion deficit. The governor Monday said removing that burden will allow for more cuts. "We actually spent more money than the people of the state earned.  We literally are spending more money than we're making, and we did it over a very long period of time," Gov. Cuomo said.

Acting on the advice of a special tax commission, Cuomo will ask lawmakers to cap the growth in property taxes. He will also seek a number of other tax reforms.

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