N.Y. property taxes up 42% over five years

Press Connects.com reports:

As lawmakers and the governor squabbled Wednesday over whether to send homeowners property tax rebates this fall, a report released by the state comptroller showed that local property levies soared 42 percent during the last five years.

The increase in the amount owed by property owners -- from $26 billion to $38 billion -- was three times the rate of inflation, Comptroller Alan Hevesi concluded.

New York's local property taxes are nearly 50 percent above the national average and are the fourth highest in the nation per capita, the study said. Taxes in the Southern Tier exceed the national average, though they tend to be lower than in some other regions in New York -- particularly downstate.

"Property taxes are by far the largest and fastest-growing component of most New Yorkers' tax bills," Hevesi said. "Because local governments have little choice but to raise property taxes or cut services when other revenues fall short during tough economic times, this trend will likely continue."

"Tough economic times" ? I thought the economy was in a recovery since November of 2001.Anyway,government is growing faster than most New York state taxpayer's paychecks.No word yet from Senator Schumer on holding hearings on government greed.