School districts across New York State will increase their per-pupil spending next year by nearly one and a half times the current rate of inflation -- despite falling real estate values and clear signs of an economic slowdown -- according to an analysis issued today by the Empire Center for Public Policy.
Gov. Spitzer's second annual State of the State message yesterday featured what may ultimately stand out as his Nixon-goes-to-China moment. Annoying a powerful ally - and embracing a concept he had rejected during the 2006 gubernatorial campaign - Spitzer said he would form a special commission to recommend a "fair and effective cap" on school taxes in New York.
The Taylor Law was designed to create a comprehensive framework for orderly resolution of labor-management disputes in state and local government. After a rocky start, it succeeded.
New York State homeowners continued to pay some of the highest property taxes in the nation in 2006, according to a new Tax Foundation report based on the latest Census data.
In a Long Island speech yesterday, Governor Eliot Spitzer suggested for the first time that he might be willing to consider a state-imposed cap on property taxes. If the governor is serious, it could be a turning point for heavily burdened New York property owners.
Instead of permanently cutting tax rates, New York state is borrowing a gimmick retailers use to avoid cutting prices: the mail-in rebate. The Department of Taxation and Finance is inviting homeowners to apply for a property tax discount.
In my testimony today, I will not attempt to delve into the many issues surrounding the administration of the real property tax in New York. As this committee's other witnesses will attest, New York's current patchwork approach is both unfair and inefficient. The reliance on numerous local assessment districts, and the lack of a single assessment standard linked to a regular reassessment cycle, are glaring shortcomings of the system as it now exists.
Gov. Spitzer's proposed budget "sends the wrong signal to firms that might otherwise consider investing or expanding in our state" by raising taxes on some large corporations, E.J. McMahon of the Empire Center for Public Policy said in testimony before the Legislature's joint fiscal committees.