Pension loophole boosts tax cap for schools by E.J. McMahon | | NY Torch

Opponents of Governor Cuomo’s 2 percent property tax cap were able to stick one major exclusion into the legislation before it passed in 2011: a provision excluding a portion of local government and school employee pensions from the total allowable “levy limit” in years when taxpayer-funded employer contributions rise by more than two percentage points of salaries.

Teachers sue to throw out cap by E.J. McMahon | | NY Torch

To no one’s surprise, the statewide teachers’ union today filed suit to overturn New York’s local property tax cap. NYSUT has enlisted some parents of school children as co-plaintiffs, but the chief motive here is obvious: the tax cap is likely to limit future increases in teacher compensation, which is by far the largest category of local school expenditures.

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.
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