Few New York school budgets will seek to exceed tax cap
March 07, 2017 06:21 PM
ALBANY, N.Y. (AP) - Voters in relatively few New York school districts will be asked to approve budgets that exceed the state's property tax cap.
The New York State Association of School Business Officials says 98 percent of the budgets submitted to the state so far would stay within the cap. Fifteen districts want to override it, meaning they'll need a 60-percent supermajority for the budget to pass.
The association says it's the smallest number of districts that have sought an override since the tax cap was installed in 2011-12. The tax cap law requires local governments and school districts to raise taxes no more than 2 percent or the rate of inflation, whichever is less. The statewide cap for this year is less than 2 percent.
School budget votes will be held statewide on May 16.
Created: March 07, 2017 06:21 PM
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