Sentences with phrase «tax caps»

I think we all agree: we don't need tax caps — we need tax CUTS.

We recommend setting a floor of zero percent for tax caps to provide a degree of stability rather than the disruption a negative cap causes for students and communities.»

State officials said that some districts have been saddled with tax caps for 2016 - 2017 that allow less revenue than the current year.

In reality, this is a temporary state tax credit for homeowners (and only homeowners) living in jurisdictions that have remained within their tax caps.

Five Long Island school districts, all in Suffolk, are asking voters to approve an override of their state - imposed property tax caps — more than twice as many as last year, according to the state comptroller's office.

With property tax caps and restrictions on bonding authority, park districts must rely all the more on popular programs that residents crave to generate needed revenues, officials say.

The episode shows once again why state - imposed tax caps are too blunt an instrument to fix what's wrong with local government finances.

Like many districts in the area, District 300 has struggled with tax caps that limit revenue.

But funding for large projects is scarce because of property - tax caps that strictly limit the amount by which an Illinois taxing body such as a park district can increase its annual revenue, he said.

This is due to several laws that put tax caps on tax rates and growth.

Pass - through entities, such as S - Corps and LLCs, would have taxes capped at 15 percent as well.

Twitter, or any other company with a payroll of more than $ 1 million that moves into that «rehabilitation zone,» would have its payroll tax capped at its current level for the next six years.

«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.

So there may not be a lot of empathy with the fact that there is a tax cap,» Randich said.

But funds for capital improvements are scarce, and borrowing power is limited by a state - imposed tax cap.

«With the tax cap, there weren't a whole lot of things we could hope for,» said Donna Wilson, director of finance and personnel for the Arlington Heights Park District.

The tax rate increase request is in response to the drop in property - tax revenues caused by the state tax cap, she said.

She also said that the Park District, along with other park districts in Illinois, lost its authority to issue non-referendum bonds due to tax cap legislation approved by the state legislature in the early 1990s.

NEW LENOX — With a growing residential tax base and a budget limited by a tax cap, the New Lenox Park District needs alternative revenue sources, a park official said recently.

«Significant economic trends» indicate that a growing population will demand more programs and facilities, but the tax cap makes money tight even when more improved property shows up on the tax rolls.

Hays said the private - public partnership offers the Park District's best chance for developing such a facility, because the district's own financial resources are limited by the Illinois tax cap.

The district can not directly issue bonds to build a facility because of the state «s mandated tax cap, he said.

Park District officials have said they are uncertain how they can raise the necessary funds because the state «s mandated tax cap prohibits any non-referendum bond sales.

The money was raised through the sale of bonds and didn't require a referendum because the bonds came under the tax cap and no tax increase was needed, Durlacher said.

Park officials said the state tax cap, imposed in 1991, has limited their ability to make infrastructure repairs.

«We've had these fields in our plans since 1990 - 91 when the center opened, but because of the tax cap, we haven't ever had the money to pay for them.»

The state tax cap would come into play if the village wanted to increase property - tax rates to fund the park commission.

The bill would override the Cook County property tax cap, taxing property owners an additional $ 17 a year on property valued at $ 100,000.

Park board President Steve Randich said the district, whose funding ability is limited by the tax cap, would have to study the costs before giving an answer about its participation.

The Park District on Thursday night delayed issuing $ 1 million in bonds until it sees clearly the effect of a Cook County tax cap anticipated from the state legislature.

But park officials say they are under financial constraints because of the state property - tax cap.

On issues like property taxes, Astorino wants to simply double - down on what Cuomo and the Legislature already have in place: Making the current property - tax cap permanent while also going after mandated spending, a perennial concern for local governments.

And most were able to win voter approval, including some that exceeded the property tax cap.

UPDATE: The property tax cap (Sens. Brian Foley, Jeff Klein, Dave Valesky (added) and Craig Johnson — although the chapter amendment to mandate restored education aid be used for property tax relief might ameliorate their concerns), the SUNY tuition plan (Sen. Bill Stachowski and Antoine Thompson (added)-RRB-, the same - sex marriage language (Diaz Sr.) and the counting of prisoners in the Census and home health care differentials.

After an eventful four years as governor, Cuomo is running on his record of accomplishments: A property tax cap, the legalization of same - sex marriage, a sweeping gun control law and enacted budgets that have kept spending increases under 2 percent.

The governor has been sabre - rattling for some time about calling the Legislature back to Albany between the primary and general elections in hopes of getting lawmaker to act (in some cases yet again) on his property tax cap proposal.

The Senate had originally proposed a look - back period to 2011, when the state's tax cap was first approved.

-- A property tax cap.

He also says his plan does not include a sunset for the tax cap, which Speaker Sheldon Silver had proposed.

As localities adjust to the property tax cap, more may turn to sales tax revenues to fill in budget gaps.»

The group spent nearly $ 8 million lobbying the state this year so far, and continues to do so with the governor's tax cap.

Recall though that everyone insisted last year the property tax cap and rent control laws were never coupled, only to be tied together after legislative leaders and Cuomo reached a deal.

Topics of discussion included, but were not limited to the follow: The millionaire's tax, redistricting, the tax cap, mandate relief, the expansion of non-Indian gambling, the PEF contract, whether the Legislature will return to Albany prior to January and the 2012 session.

Arriving at his office shortly before the Senate Republican conference meets to discuss the rent / tax cap «framework» deal, Majority Leader Dean Skelos says some key aspects of bill language are still being worked out — casting blame on Democratic Assembly Speaker Sheldon Silver:

A host of measures opposed by labor — the Tier Six pension overhaul and the property tax cap — were approved.

The fate of the tax cap and gay marriage — two of Cuomo's three top post budget policy priorities — lie in the hands of the Senate GOP.

Gov. Andrew Cuomo, too, has called for a permanent extension of the tax cap, a signature economic measure from his first term.

``... I think the whole issue of, you know, the property tax cap and things like that that I did favor that weren't in there.

He said he's still thinking about whether he will vote «yes» on the omnibus rent / property tax cap / mandate relief bill when it comes to the floor.

While a number of downstate Democrats in the Senate and Assembly and their tenant advocate allies are grumbling over getting the short end of the stick in the rent laws / property tax cap deal, upstaters — and not just Republicans — are generally pleased with the arrangement.