Sentences with phrase «levy growth»

The property tax levy growth for school districts in the state are expected to remain relatively flat for the 2016 - 17 fiscal year.

Local superintendents preparing next year's school spending plans are describing the process as daunting because they're bound to nearly zero percent tax levy growth for 2016 - 17.

The cap limits property tax levy growth to 2 percent a year or the rate of inflation, whichever is less.

Multiply the result by the allowable levy growth factor — either 2 percent or inflation, whichever is less.

The ECB recommended changes to the tax cap, including establishing an «allowable levy growth factor» of at least 2 percent and formula changes related to BOCES capital costs and PILOT agreements, according to the release.

Over the last several years, communities that have budgeted within the cap have seen flatter levy growth.

And he rebuffed concerns the tax cap for New York City would harm its revenue, saying it was important to promote low - tax policies there, and pointed to the success of limiting levy growth elsewhere in the state.

«After two years of tax growth being limited to less than one percent, inflation has crept up resulting in the highest allowable levy growth since 2013,» DiNapoli said.

«Although school districts more reliant on state aid derive a greater benefit from the current environment of low levy growth and increased state revenues, property taxes have traditionally been a more stable source of revenue than state aid.

«Growth in state aid revenue has outpaced levy growth, which generally benefits districts that are more reliant on state revenues and challenges districts more dependent on property taxes,» Moody's found.

«If allowable levy growth remains restricted, school districts will have to increasingly depend on overrides, state aid growth, and expenditure cuts to balance their budgets, a credit negative,» Moody's found.

Comptroller Tom DiNapoli this week calculated the allow levy growth for school district budgets will be limited to a 1.26 percent cap.

Galef, meanwhile, pointed to the potential impact on local infrastructure projects suffering from the narrow levy growth.

Local government advocates and education officials in New York have urged state lawmakers to make changes to the cap to allow for more levy growth and discard the provision that limits increases to the rate of inflation.

Democratic lawmakers in the state Assembly would be open to potential changes in the tax cap as municipalities and school districts grapple this year with flat levy growth.

First, Assembly Bill No. 1841 - A would alter the value of property subject to payments in lieu of taxes (PILOT) agreements for purposes of increasing the tax levy growth factor.

Property tax levy growth for local governments will be capped at 0.68 percent for 2017, decreasing slightly from 2016, when it was 0.73 percent, according to state Comptroller Tom DiNapoli.

The measure would establish a school district and local government property tax levy cap that would limit tax levy growth to the lesser of four percent or 120 percent of the annual increase in the consumer price index.

A report released on Monday by the New York State Association of School Business Officials shows budgetary spending is expected to increase by 2.2 percent, with a largely flat tax levy growth of 0.9 percenty.

Local school districts are preparing for another tight budget season this year, with minimal state aid increases projected in Gov. Andrew Cuomo's tentative spending plan and a cap of less than 2 percent on tax levy growth.

Greenport School District officials preparing next year's school spending plans are describing the process as daunting because they're bound to.77 percent tax levy growth for 2016 - 17.

Municipalities already play within the state's flexible tax cap (which restricts tax - levy growth to 2 percent or the rate of inflation, whichever is lower) which requires a supermajority vote to override.

Of the districts that approved budgets, 28 voted to surpass the limit in tax levy growth, set at nearly zero this year given the flat rate of inflation.

With 1,174 municipalities reporting their 2012 budgets to the state Comptroller's Office, 217 plan to override the 2 percent limit on local property tax levy growth, updated numbers show.

By allowing for the inclusion of currently exempt property within the levy growth factor, this bill would increase the base taxable property value in school districts and municipalities, thus increasing the amount they are permitted to raise taxes annually.

«Establish a school district and local government property tax levy cap that would limit tax levy growth to the lesser of four percent or 120 percent of the annual increase in the consumer price index.

Poloncarz attributed the tax levy growth to new construction countywide, not to an overall increase in property values.

The cap limits property tax levy growth to two percent a year or the rate of inflation, whichever is less.