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For Release — June 2, 2008

Statement by Kenneth Adams, President and CEO of The Business Council of New York State on the release of the Commission on Property Tax Relief report

ALBANY— “The recommendation by the Commission on Property Tax Relief for a hard cap on the real property tax levy offers a real chance to make New York's economy competitive again.

For many businesses property taxes are the single largest tax levy they pay. High property taxes are the reason why New York's total tax burden is so much higher than other states, driving away business.

Without a cap there is no relief in sight. From 2000 to 2005 property taxes increased at an average of more than seven percent a year. More than double the rate of inflation.

Our economy cannot thrive if we continue to tax and spend at these rates. A real property tax cap can provide relief to homeowners and businesses alike. It will make the state more attractive to new and expanding businesses.

This proposal will face opposition from powerful forces. But, we cannot afford to continue “business as usual” in Albany. Combining the recommendations of this panel with many of the recommendations of the Lundine commission to lower costs can provide real change in New York, real change that will lead our economy back to prosperity, growing jobs and strengthening our communities.

The Business Council commends the work of Nassau County Executive Thomas Suozzi and the other members of this commission.
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