Tax cap loophole alert (UPDATED) by E.J. McMahon | | NY Torch

Assemblyman Harvey Weisenberg (D-Long Beach) has just introduced a bill (A.10676) that would exclude court-ordered tax certiorari refund payments from Nassau County school district tax levy limits under the state’s property tax cap. It’s the same measure introduced in the Senate a month ago by Sen. Jack Martins (R-Mineola).

The cap-buster count by Tim Hoefer | | NY Torch

Forty-nine school districts* were seeking to override the state's new property tax cap in yesterday's school budget votes. Of those, our review of regional media coverage suggests 30 districts* passed an override, while 19 districts voted their budgets down. Seven of the proposed overrides failed to collect even 50 percent of the vote.

Sizing up school tax caps by E.J. McMahon | | NY Torch

While New York State’s new property tax cap has a starting point of 2 percent (or the prior year’s average inflation rate, whichever is less), it will vary from school district to school district based on a series of exclusions for capital expenditures, increases in pension costs, and physical additions to the district tax base...

New York State’s Property Tax Cap by E.J. McMahon | | Reports

New York State has a new law capping annual increases in local government and school district property taxes. Effective in local fiscal years starting on or after Jan. 1, 2012, the law limits the annual growth of property taxes levied by local governments and school districts to 2 percent or the rate of inflation, whichever is less.

First local tax cap override by E.J. McMahon | | NY Torch

The St. Lawrence County Board of Legislators is holding a public hearing today on a proposal to override the state's new property tax cap as part of the county's budget. Although the tentative 2012 county budget is not due until Nov. 15, local news r...

More on those rising pension costs by E.J. McMahon | | NY Torch

New York's cities, already the most fiscally stressed class of local governments in the state, will be hit especially hard by the next wave of pension contribution increases announced yesterday by the state comptroller. That's because city payrolls t...