March 28, 2012
March 25, 2012
March 21, 2012
March 15, 2012
March 13, 2012
An Excellent job by Scott Waldman (Albany Times Union- a great paper BTW) to explain how to figure the tax cap as it applies to your personal property tax bill….
“…..here is a simplified explanation of the tax “cap” formula districts are using to determine their new levy limits:
The current total tax levy multiplied by tax base growth, which is basically all the new construction within the district borders that didn’t exist the year before.
To that number, add the payments in lieu of taxes, including those from businesses and industrial development agencies, etc, from the current year.
Next, subtract the taxes levied for exemptions, including liability claims and capital expenditures from the year before. Many districts are still waiting for guidance on the exact exemptions that must be subtracted from the state Education Department.
All those steps produce the adjusted tax levy. Multiply that number by — and here comes the “tax cap” — 2 percent or the consumer price index, whichever is smaller.
From that, subtract the payments in lieu of taxes for the upcoming year. In future years, the final step will be to add in carryover of the levy limit if the district does not impose the full allowable percentage, according to the formula.”
However, added to this “simplified” explanation- for your convenience in figuring your tax bill- we are providing the entire method of calculating your own bill.
…after that measure the height of school board members; subtract frequency of acid reflux; multiply by number of superintendents; subtract IQ of elected officials in Albany (an infinitesimal adjustment at best) and guess what the tax will be…any number between 3.7% and 600% will do.
If the six people who usually vote in your district come out to vote on this occasion you will need 60% or 3.6 voters to override. (WTF?) Take it easy now!!
This is easily achieved by a weighted ballot which means you weigh the voters and assign a coefficient of twelve to the heaviest. The coefficient is purely arbitrary and you can use any number except the cosmological constant which-if used- could destabilize the universe- not to mention your school district.
If the 2% tax cap translates on your tax bill as a 500% increase subtract 50 cents for STAR (oops I forgot Albany cut most STAR benefits) and/or move to Montana and don’t forget your gun because we hear they’re closing the borders to illegals AKA NYS residents. Got it? Thank you Governor Cuomo. You did a great job on property tax relief. Right up there with the “heckuva job Brownie” did on Hurricane Katrina.