The Democratic-led state Senate next week is set to vote on a bill that would make the state’s cap on property tax increases permanent.

The measure, first approved in 2011, is set to expire this year.

The cap limits local and school property taxes to year-over-year increases of 2 percent or the rate of inflation, whichever is lower.

The Senate’s version of the tax cap legislation is backed Sen. Jim Gaughran, a freshman from Long Island elected to a Republican-held district in November.

“I ran for State Senate on the promise that I would fight tirelessly for overburdened and overtaxed Long Islanders,” Gaughran said in a statement. “Today I took the first step and introduced vital legislation to make the property tax cap permanent. No more temporary extensions. A permanent tax cap for permanent relief.”

The tax cap remains a signature economic measure for Gov. Andrew Cuomo, who included a provision for a permanent tax cap in his 2019-20 budget proposal that is due at the end of March.

Cuomo and state lawmakers alike have pointed to the $10,000 federal cap on state and local tax deductions that makes the state’s tax cap all the more key for those who pay among the highest levies in the country.