“Today’s signing of the Property Tax Relief Act was historic. My colleagues and I have pushed for reducing the property tax load for years. I’m happy to see this in place; however, in many ways, this is only a beginning. This new law will cap property taxes at 2% growth in a given year or the rate of inflation, whichever is lower. The next step for our state is to focus on bringing mandate relief to localities so they are not saddled with paying for costly state demands associated with Medicaid, public assistance, pensions and healthcare.
“Mandate relief is paramount to reducing rules and regulations that have been imposed on localities. These costs are passed down to the local taxpayer and earn our state the reputation of being unfriendly to business and property owners. Together, with mandate relief, this cap has the potential to restore our state to a more affordable place to live and do business.”