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October 6, 2011

Filed under: Updates — gioia @ 8:08 pm

now-will-you-listen1

Comment from a reader:
Looks like the tax cap isn’t working. From this article it sounds like a town board can override the cap with a 60% vote. According to the article, the town’s $11.24 million budget would boost spending 3.29 percent above 2011’s level – the cap being 2%. But because of declines in state aid and other sources or revenue, it would require a tax levy of $7.8 million — 11.5 percent higher than this year. So it sounds like caping the budget does nothing to cap the tax.

http://www.recordonline.com/apps/pbcs.dll/article?AID=/20111008/NEWS/110080325

Reply from gioia…You are absolutely correct. I wish the legislators had been as astute as you are…before they passed the thing. Now a lot of them are having buyer’s remorse…too late to stem the damage…

1 Comment »

  1. Looks like the tax cap isn’t working. From this article it sounds like a town board can override the cap with a 60% vote. According to the article, the town’s $11.24 million budget would boost spending 3.29 percent above 2011’s level – the cap being 2%. But because of declines in state aid and other sources or revenue, it would require a tax levy of $7.8 million — 11.5 percent higher than this year. So it sounds like caping the budget does nothing to cap the tax.

    http://www.recordonline.com/apps/pbcs.dll/article?AID=/20111008/NEWS/110080325

    Comment by taxpayer — October 8, 2011 @ 2:26 am

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