Tax Cap = Budget OKs by Ken Girardin | | NY Torch

The tax cap effect was on full display in yesterday’s school budget voting.

School budgets were approved at a record-high rate of 99.3 percent, adding to evidence that districts can live within a property tax cap set at either 2 percent or the prior year’s average rate of inflation, whichever is less.

Will Albany bust the cap? by Ken Girardin | | NY Torch

With just three work days remaining in the legislative session, a number of bills that would loosen the property-tax cap await consideration in both houses. The pending legislative efforts range from small modifications to the cap formula to allow more spending without triggering the cap’s supermajority requirement, to doing away with the supermajority requirement altogether.

Warning: lower tax hikes ahead by E.J. McMahon | | NY Torch

The starting point for computing next year's local property tax cap in most of New York State will be less than 1 percent—and so state Comptroller Thomas DiNapoli is warning local governments "brace for ... [lower] growth in property tax revenues."

DiNapoli's tone clearly implies that a lower tax cap is a negative. But most property owners will no doubt see it another way.

“Warning”: taxes might not rise by Ken Girardin | | NY Torch

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.
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