Property taxes loom as Wall Street sinks

A lot of New York counties are already gearing up to boost property taxes to compensate for lost revenue from Albany.

(Meanwhile, Essex County seems to be backing away from a proposed sales tax increase.)

The New York Times is reporting that New York City is considering a 7% hike to property taxes.

School districts may be forced to follow suit if education aid is slashed.

The issue will be front and center at the New York State Association of Counties meeting this week in Niagara Falls.

The session ends on Friday with a public forum on New York’s proposed school property tax cap.