Sentences with phrase «in under the tax cap»

The Town of Stony Point chose to amortize their payments to the retirement funds, meaning to pay them over time, which partly contributed to their 2013 budget coming in under the tax cap.

Not exact matches

Even if your wealth falls under the federal estate tax threshold — in 2016, up to $ 5.45 million per person is exempt — it may be subject to state estate taxes, which often have lower caps.

«But when they clarified the tax cap in 1994, under Gov. Jim Edgar, what they said was, whatever you had in outstanding debt at that time, you can continue to bond at that level.

In an interview on The Capitol Pressroom on Tuesday, Skelos pointed to successes of the Senate under coalition rule — ranging from on - time budgets to a property tax cap (a measure that came in 2011, before the formal governing agreement was actually in placeIn an interview on The Capitol Pressroom on Tuesday, Skelos pointed to successes of the Senate under coalition rule — ranging from on - time budgets to a property tax cap (a measure that came in 2011, before the formal governing agreement was actually in placein 2011, before the formal governing agreement was actually in placein place).

At an annual cost of $ 410 million, the Family Tax Relief Rebate provides $ 350 to households with children under age 17 and annual income between $ 40,000 and $ 300,000; the Property Tax Freeze Rebate provides an amount equal to the annual increase in property taxes to homeowners earning less than $ 500,000 in tax cap - compliant local governments and school districts and costs $ 783 million annualTax Relief Rebate provides $ 350 to households with children under age 17 and annual income between $ 40,000 and $ 300,000; the Property Tax Freeze Rebate provides an amount equal to the annual increase in property taxes to homeowners earning less than $ 500,000 in tax cap - compliant local governments and school districts and costs $ 783 million annualTax Freeze Rebate provides an amount equal to the annual increase in property taxes to homeowners earning less than $ 500,000 in tax cap - compliant local governments and school districts and costs $ 783 million annualtax cap - compliant local governments and school districts and costs $ 783 million annually.

«My understanding is that if we can commit to staying under the two percent growth rate in state government, which I think is perfectly reasonable and which we have mandated local governments do with the property tax cap, if we do that we cut the $ 4.4 billion deficit down to $ 1.7 billion,» Jacobs said.

As mayors prepared to make their case, the state School Boards Association released a survey that found work force costs in schools outside the state's major cities are on track to grow an average of more than $ 1 billion annually by the 2013 - 14 school year; revenues under a tax cap, however, would grow only $ 229 million per year through 2013 - 14, on average.

Executive budget provisions included; also under Article 9A: includes IRC § 951A (GILTI) income under definition of exempt CFC income; decouples from federal cap on business interest deduction; decouples from federal cap on deduction of FDIC premiums; makes same changes in NYC corporation tax.

With wages in decline compared to inflation, zero - hours contracts, food banks, the benefits cap and the bedroom tax, the unemployed and lowest paid have undoubtedly suffered more than any group under the coalition government.

«This budget caps spending under 2 percent for the seventh year in a row and includes a tax cut that will save 6 million middle - class taxpayers an average of $ 250 this year,» he said.

«We formed the Senate majority coalition because we believe that it is the best way to continue to build on the progress we've made over the last two years in ending government dysfunction, bringing spending under control, enacting a property tax cap and helping businesses create new jobs.

That plan would replace a circuit breaker program Cuomo proposed in his own budget, which many lawmakers criticized as detrimental to municipalities and school districts already struggling under the weight of a two - percent property tax cap passed into law in 2012.

· Allowing counties an option to modify how they fund state mandated pension contributions · Providing counties more audit authority in the special education preschool program · Improving government efficiency and streamlining state and local legislative operations by removing the need for counties to pursue home rule legislative requests every two years with the state legislature in order to extend current local sales tax authority · Reducing administrative and reporting requirements for counties under Article 6 public health programs · Reforming the Workers Compensation system · Renewing Binding Arbitration, which is scheduled to sunset in June 2013, with a new definition of «ability to pay» for municipalities under fiscal distress, making it subject to the property tax cap (does not apply to NYC) where «ability to pay» will be defined as no more than 2 percent growth in the contract.

«No matter what the Administration is painting as a rosy picture that there's going to be a decrease in the overall debt, I just don't see how a project of $ 192 million plus other projects that we have been assured will move forward at a cost of $ 93 million and knowing that union contracts will be up for ratification throughout the next several years, there's no way that the county can say that our taxes will not increase and that I can't imagine will be able to stay under the cap unless we decimate services,» says Strawinski.

Under the proposal, municipalities and school districts that stay within the two - percent cap would then be eligible for a certain amount of aid to lower their tax levy to prior year levels in the program's first two years.

Towns that stayed under the tax cap in the past year are afforded higher limits the following year.

In its third consecutive year under the state mandated tax cap, Albany County Executive Dan McCoy is offering up a 2016 budget with a zero tax increase.

The tiny Tuckahoe school district failed Tuesday in its second attempt to override its tax cap and will be forced to freeze taxes as a result — the first Long Island district to experience such consequences under New York State's strict cap law.

And while officials say they were shocked by the drop in the tax cap when it was announced in July — but promise to stay under it — experts and town officials wonder how much longer they can.

Faced with a $ 40 million budget gap, he turned this «grim» situation into 3 straight budgets under the mandated state tax cap, built a budget surplus of over $ 18 million this year, replenished the fund balance to $ 40 million, and improved the county's bond rating to among the highest in the State.

The tiny Tuckahoe school district failed in its second attempt to override its tax cap and will be forced to freeze taxes as a result — the first Long Island district to experience such consequences under New York State's strict cap law.

She has made the tough choices to make Suffolk County government more efficient, which saves Suffolk taxpayers $ 100 million per year in reduced costs and allows the county to stay under the tax cap.

«In past years we stayed under the tax cap when our expenses were rising and we probably should have gone up to the tax cap and exceeded it (then) in order to balance our budget,» said DysteIn past years we stayed under the tax cap when our expenses were rising and we probably should have gone up to the tax cap and exceeded it (then) in order to balance our budget,» said Dystein order to balance our budget,» said Dyster.

Another choice we've said we'd make differently is on taxation and tuition fees — while under the Conservative - led government banks are benefiting from a 5 per cent cut in corporation tax, — Labour thinks that money would be better used bringing down the cap on tuition fees, to help young people worried about the costs of going to university.

In the last four years, the tax cap is essentially been under 2 percent given the relatively flat inflation growth.

NYSUT was back in court today, continuing its battle against the state's property tax cap and in a newer twist, the rebate that goes to homeowners whose school districts remain under the cap.

Education groups argued the borrowing plan was necessary in order to cover costs under the tax cap.

Under Silver's bill as introduced, a tax - cap law could be repealed or modified in the future only by agreement of both houses of the Legislature — or by one house alone, but only if it is also willing to kill rent control (which, while desirable, is highly unlikely).

«This is the first round of budgets coming due under the new tax cap,» DiNapoli's office said in a statement.

Within the first minute, Lacorte drops the name of popular Gov. Andrew Cuomo and also touts the fact that he managed to pass a budget that came in under the governor's two percent property tax cap — a very popular initiative in the NYC suburbs, which have the highest property taxes in the state and the nation.

The rest of the state's localities are subject to a 2 percent cap on the growth of their property taxes, which they can override at the local government level, under a law enacted during Gov. Andrew Cuomo's first year in office in 2011.

The Erie County tax rate has either stayed the same or fallen in each of the past 10 years and consistently been under the state tax cap.

«For the second year in a row, the administration has resorted to gimmickry to get under the tax cap.»

Schuler said all budgets that eventually passed in Niagara County last year stayed under the tax cap, with Niagara Wheatfield failing on its initial effort to exceed the cap last year.

The board offered a budget with no change in the tax levy, but the tax cap calculation required the district to cut taxes 1.1 percent to stay under the cap.

The county would absorb the remaining $ 3.6 million this year in order to stay under the tax cap.

The extra state aid will help the more than 700 school districts in New York as they struggle to stay under the state property tax cap, which allows them to increase their tax levy by only.12 percent this year without seeking voter approval.

«Credit is due to Councilman Packer for analyzing the budget and recommending areas that can be reduced in order for the town to remain under the tax cap,» Leggett said.

«This year, working in a bipartisan manner, we've accomplished some very important things for the people of this State ---- including eliminating a $ 10 billion deficit, bringing spending under control and capping property taxes,» Majority Leader Skelos said.

Thiele said Long Island school districts would face the increases in their LIPA bills even as they labor under the state - mandated 2 percent tax cap.

The calculation is a requirement for school districts under the tax cap law, which was passed in 2011.

Dutchess County Executive Marcus Molinaro, Monday, presented his proposed 2013 budget of $ 408.3 million that comes in under the two percent state tax cap and reduces spending by $ 7.6 million.

At the same time, the cap is, in essence, working as it was meant to: Keeping the nation's highest property taxes under some semblance of control.

Cuomo was endorsed by the lobby group in 2010 and embraced in his first term a number of key economic measures such as a cap on property tax increases and has limited spending in the state to under 2 percent in his budgets.

The flat tax cap this year has led school district officials and local government leaders to urge state lawmakers and Gov. Andrew Cuomo to reconsider linking the cap to inflation, which has been typically under 2 percent since it was enacted in 2011.

«When he took office, Governor Cuomo recognized that taxes on New York's residents and businesses were far too high which is why he enacted the state's first ever property tax cap, established the lowest tax rate for the middle class in 58 years and brought state spending under control.»

New York state's comptroller finds that local and school property taxes will increase by the lowest percentage in decades, under the rules of the tax cap program recently renewed by the state legislature.

Facing a $ 40 million budget gap he turned this «grim» situation into 3 straight budgets under the mandated state tax cap, built a budget surplus of over $ 18 million this year, replenished the fund balance to $ 40 million, and improved the county's bond rating to among the highest in the State.

Facing a $ 40 million budget gap he turned this «grim» situation into 3 straight budgets under the mandated state tax cap, building a budget surplus of over $ 18 million this year, replenishing the fund balance to $ 40 million, improving the county's bond rating to among the highest in the State.

When asked what cuts would be needed in order to keep the budget under the tax cap for 2017, Town Board members agreed that employees would be first on the chopping block.