ALBANY - Long Island homeowners struggling with skyrocketing taxes may soon breathe a sigh of relief as state lawmakers are nearing an agreement on a 2-percent property tax cap.
Today, state Senate Majority Leader Dean Skelos (R-Rockville Centre) came out of a two-hour meeting with Gov. Andrew Cuomo (D-N.Y.) and Assembly Speaker Sheldon Silver (D-Manhattan) and said the three men were nearly done finalizing details of the agreement they had reached yesterday.
"The tax cap is in place," Skelos said. "That will happen, and of course I'm thrilled about that."
Under the proposed legislation, any property tax increases would be capped at 2 percent for the next five years. Part of the agreement also extends rent control for New York City apartments for four years.
"It's taking a little longer than people wanted but I think the final product will be good for the people of Long Island," says state Sen. John Flanagan (R-Northport).
The state Senate is also scheduled to vote this evening on a plan to increase tuition $300 a year for five consecutive years at all SUNY schools.
In the past, money raised from tuition increases has been used by the state for general purposes. Under the current proposal, however, the additional money has to go directly to the schools for their budgets.
Meanwhile, state senators remain at an impasse over the same-sex marriage legislation.
Cuomo, legislators hope to tackle big agenda