Senate Dems Weigh Property Tax Relief

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New York Senate Democrats are discussing ways to clamp down on the state’s property taxes, which are among the highest in the nation. Karen DeWitt has more on yesterday's unusual open-door caucus meeting.

REPORTER: Senate Majority Leader Malcolm Smith says he hopes to have more conferences in the future open to the public.

SMITH: This is is the time we want to start laying out our agenda going forward regarding property taxes, mandate relief.

REPORTER: The Democratic Senators heard competing proposals on property tax relief from Senators Liz Krueger and Jeff Klein. Krueger's plan relies on a circuit breaker and would be funded in part from the revival of a proposed tax on sugared soft drinks and a collection of stock transfer taxes. Klein's plan restores the Star Rebate checks with a circuit breaker and would be financed from a tax amnesty, expansion of gambling and federal stimulus monies. Neither plan advocates a tax cap as Governor Paterson has proposed. In Albany, I'm Karen Dewitt.