Tag: Property Tax Cap
As New York and the Nation emerge from the depths of the Covid-19 pandemic and look to the future, many property owners are deciding whether and where to relocate their business or place of residence. Read More
Voters will cast ballots next Tuesday, May 18 on proposed budgets for school districts across New York State. New York State’s highest in the nation average per-pupil expenditure would rise to $28,658 per pupil, an increase of $1,145 per student, or 4.2 percent. Read More
New York school districts are seeking voter approval of budgets that would raise their per-pupil spending by an average of more than four times the projected inflation rate. Most districts have proposed property tax hikes as high as the maximum allowed without supermajority overrides under the tax cap law. Read More
In 2015, the state capped the local Medicaid share, saving local governments more than $3 billion per year. "Even with the freeze, Medicaid remains one of the largest expenses faced by local governments in New York—and one they have little or no means to control," wrote Bill Hammond, director of health policy at the Empire Center for Public Policy, which is fiscally conservative. Read More
E.J. McMahon, of the right-leaning Empire Center for Public Policy, said the tax cap is a "wonderful thing" but it is not a tax cut. He looked over the list the Senate Democrats provided of credits, exemptions and reductions, and said they aren’t what most people would consider a tax cut. Read More
Taxpayers can chalk up a victory thanks to Gov. Andrew M. Cuomo’s successful effort to make the property tax cap permanent. The 2011 law, which could have expired in mid-2020, limits the annual growth in property tax levies to 2 percent or the rate of inflation, whichever is less. The fiscally conservative Empire Center says the 8-year-old law has saved New Yorkers billions of dollars in tax payments. Read More
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