Paterson’s Next Big Thing: Property Taxes

NISKAYUNA—Today, at a private home in a manicured Schenectady suburb, David Paterson announced he’s issuing an executive order mandating any state legislation provide information about how it will affect local governments. The order is designed to address concerns about property taxes—a major issue upstate and on Long Island.
The order requires a “prompt, complete and transparent process” for legislation with local impact, and will require those bills to make clear the fiscal impact on local governments. Lawmakers will have to provide a cost-benefit analysis, consult with municipalities, calculate how much local revenue would be required to pay for state mandates, and address the the big issue: what is the impact on property taxes?
“When the costs are known, and the fiscal impact is assessed, we will make a decision as to whether we go forward with this legislation,” Paterson said.