Tag: Property Tax

Residents of the Western New York village of Sloan had the highest effective property tax rate in New York (outside New York City and Nassau), according to Benchmarking NY, the Empire Center’s annual rundown of local property tax burdens. Read More

When New York’s 2 percent cap on local property tax levies was about to become law in June 2011, the statewide teachers union warned of an apocalypse just around the corner. Eight years later, New York’s school districts are better funded than ever—still atop national expenditure rankings, now laying out nearly 90 percent more per pupil than the 50-state average. But the rise in school property taxes statewide has slowed by more than two-thirds, to an average of 1.8 percent a year, saving homeowners and businesses billions of dollars in 2018 alone.   Read More

Over the past seven years, New York’s cap on local property tax levies has generated billions of dollars in savings for homeowners and businesses, compared to previous trends. The cap has been especially effective in restraining school property taxes, which have long been the largest and fastest-growing component of New York’s tax burden. Read More

School District Property Tax Levies and Spending, 2011-12 to 2018-19 Read More

Although the IRS ruling hasn’t formally been made final yet and Bellone is promising a legal fight, E.J. McMahon of the Empire Center, an anti-tax think tank, said Suffolk taxpayers should be skeptical of putting money into the proposed charitable fund. “Any contribution to something like the Suffolk County fund is by no means guaranteed a tax deduction, so the message to taxpayers is don’t count on it,” McMahon said in an email. He called Bellone’s plan “nothing new — basically a Suffolk echo of Cuomo a year ago.” Read More

A recent report by the Empire Center, an Albany-based, fiscally conservative think tank, projects if the state paid for the counties’ share of Medicaid costs, it would provide $8 billion in relief to county governments. That’s an average 27 percent reduction in county taxes, the USA Today Network’s Albany bureau reports. Read More

The newly enacted federal income law provision limiting state and local tax (SALT) deductions "is likely to substantially decrease home values" in New York, Connecticut, Maryland and New Jersey. That's a key claim of the lawsuit filed by the four states against the Trump administration today with the goal of having the $10,000 SALT deduction cap declared unconstitutional. Read More

This issue brief explores the financial considerations and policy challenges associated with eliminating the local Medicaid share and reviews the options for implementing a state takeover. Read More