ALBANY – New York's tax cap limits the growth in property taxes to 2 percent a year or the rate of inflation, whichever is lower. So next year, because of low inflation, the tax cap could be Read More
Tag: Property Tax
Don't look now, but given current inflation trends, next year's school property tax cap may be ... zero! That's the message of a statement released last week by the Educational Conference Board (ECB), a coalition of groups representing public school administrators, school boards and—last but hardly least—the New York State United Teachers (NYSUT) labor union. The ECB's "warning" was meant as an inside-the-Albany-bubble scare tactic, but for most New Yorkers, it's good news: further confirmation that the tax cap is working exactly as intended. Read More
According to Empire Center’s annual Benchmarking NY report, the town with the highest property tax in New York State goes to Binghamton. Data from the state comptroller’s office to calculate effective tax rates for thousands of localities across New York. Read More
A couple of years ago, when New York’s property tax cap had been through only one school-budget cycle, many people were ready to give the cap a thumbs-down. In an RBJ Daily Report Snap Poll conducted at the time, nearly 60 percent of respondents disagreed with Gov. Andrew Cuomo’s assessment that the law was a “tremendous success.” That was then. Read More
Since the state’s property tax cap was enacted a few years ago, local leaders’ expectations on how much they can squeeze folks have been properly adjusted. The tax cap is accomplishing its goal of reining in runaway property tax increases, and should be extended. Read More
As the state legislative session draws to a close, Gov. Cuomo and the state Democratic Committee are launching an online media campaign to push for an extension of his landmark property-tax cap. It’s easy to understand why: Unlike many highly touted policy reforms, the tax cap’s actually working. Which is why it should be made permanent. Read More
In 2011, New York enacted a on annual local property tax levies. A revealed that school property taxes have grown at an average annual rate of 2.2 percent per year in the four years since the cap was created, down from 6 percent per year in the thi Read More
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