Gov. Paterson Backs Property Tax Cap

NEW YORK (CBS 2) -- New York Governor David Paterson was calling for a property tax cap and said he'll try to force state lawmakers to vote on one before the November 2 general elections.

Paterson supported a bill to cap yearly hikes at 4-percent or 120-percent of inflation, whichever is lower.

The measure passed the State Senate several times, but has yet to come to a vote in the Assembly.

Assembly Speaker Sheldon Silver opposed the cap and predicted its failure in his chamber.