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News stories tagged with "tax-cap"

On August 30, national Guard troops cleared power lines and debris around a ruined home in the town of Jay. (Photo: Brian Mann)
On August 30, national Guard troops cleared power lines and debris around a ruined home in the town of Jay. (Photo: Brian Mann)

Jay searches for ways to finance post-Irene recovery

Flooding triggered by Tropical Storm Irene may force Essex County to borrow money to make it through the end of this year. Jay Supervisor Randy Douglas chairs the Essex County Board of Supervisors.

Douglas said he couldn't put a dollar figure on the total damages to county infrastructure. But he said individual projects relating to Irene will cost towns in the county hundreds of thousands of dollars.  Go to full article
If they want to raise [taxes] by 20%, God bless them. If they believe they need to raise their taxes they can do it.

Cuomo: Irene-hit communities can override tax cap via "built-in relief valve"

Governor Andrew Cuomo says he does not think the 2% property tax cap enacted into law earlier this year will put a damper on local governments' efforts to raise funds to clean up flood damage from tropical storm Irene. In Albany, Karen DeWitt has more:  Go to full article
This is the point when you need to do something about it and you need to borrow to keep going.

St. Lawrence County will borrow to pay this year's bills

St. Lawrence County treasurer Kevin Felt has announced that in order to meet its financial obligations for this year, the county's going to have to borrow money by issuing bonds.  Go to full article
Our hands are going to be forced to do more with less, and that could include personnel reductions

Tax cap could cut jobs in Essex County

A collective cheer rang out last month when lawmakers passed legislation capping the growth of property taxes in New York at two percent. The bill was quickly signed into law by Governor Andrew Cuomo, who had labeled a tax cap as one of his major legislative priorities.

Supporters say the tax cap represents a major shift toward fiscal solvency in New York. But as Chris Morris reports, the legislation is already setting up major economic road blocks for one county government.  Go to full article
Let's see how it works for a few years... before we start lopping away pieces of it.

Cuomo vetoes bill to allow schools to borrow against pension funds

Governor Cuomo has vetoed a bill that would have allowed school districts to borrow up to $1 billion dollars against the worth of their pension funds, saying the bill would be fiscally irresponsible and reckless, and would undo much of what Cuomo's tried to do with his 2% property tax cap. Karen DeWitt has the details.  Go to full article
Canton Elementary School students
Canton Elementary School students

Property tax cap passed quietly, but could make a big noise in North Country schools

Buried by the passage of the same sex marriage law Friday night, was the news that the state legislature also passed the 2 percent property tax cap.

Over the last several months several North Country educators have came out against the cap, saying it would disproportionately affect poor rural areas and would make it difficult for schools to keep up with rising costs.

Canton Central School District Superintendent William Gregory has been among the most outspoken of these opponents and wrote a letter last year to Governor Cuomo arguing against the cap. Nora Flaherty spoke with Gregory to get his take on how the cap will affect North Country school districts.  Go to full article

Tax cap and rent laws unresolved as legislative clock runs down

There's just four full days left in the legislative session, and still no agreement on a property tax cap or the renewal of New York City's rent laws, two issues that state lawmakers have tied together. The rent laws expire at the end of the day Wednesday, and time is running out. Karen DeWitt reports.  Go to full article
Thereís no question that thereís a train that has left the station. Itís going down a reckless track that is not good for the children.

Educators and school boards speak out against property tax cap

State lawmakers are close to approving a cap on property taxes in New York, but the groups most impacted say they are still trying to change what they see as the most potentially harmful parts of the package. Karen DeWitt reports.  Go to full article
We should probably have a four or five year look at it. See where adjustments have to be made...

State assembly puts forward 2% property tax cap plan--with some differences

Chances for the passage of a property tax cap in New York have improved, now that Assembly Speaker Sheldon Silver has proposed a plan that earned praise from Governor Cuomo and conditional approval by the State Senate. Karen DeWitt reports.  Go to full article
State Sen. Betty Little.
State Sen. Betty Little.

Little, counties look for mandate reform

It appears that state Sen. Betty Little will play a bigger role in this year's debates in Albany. On Friday, Gov. Andrew Cuomo announced Little, a Republican, will join his newly created commission tasked with examining unfunded and underfunded mandates imposed by the state.

In a statement, Little said unfunded mandates approved by the state legislature "push the financial burden down to the lowest rung of the ladder."

She joins a group of industry, labor and government officials. The panel was established to identify solutions to ways to reduce local taxes by cutting the costs of state programs they're charged with providing.

Many local government leaders have said that cutting mandates, especially on health care programs, is their top priority in the next session.

A 2% limit on property tax increases was another of Gov. Cuomo's key campaign issues. That could hamstring local governments struggling to balance their own budgets. Local officials said they were happy to hear the property tax cap coupled with mandate reform, but that the devil would be in the details. Emma Jacobs has more for the Innovation Trail.  Go to full article

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