New York State's
Tax Levy Cap
 During
the coming months, the Port Jervis School District will begin
the process of formulating a proposed spending plan for the
2012-2013 school year. For the most part, the school district
budget development calendar will be similar to last year’s.
However, the one dramatic change in the budget development
process comes in the form of the state’s new tax levy cap
legislation.
Assistant Superintendent for Business Lorelei Case began the
discussion at the Nov. 15 Board of Education meeting with a
presentation on the new property tax levy
cap. The presentation provided information
about the complex tax law, which has been misconstrued and
misrepresented in media sound bites as a “2 percent tax cap.”
The law does not restrict any proposed tax levy increase to 2
percent. Instead, as Case clarified, the law determines what
level of support is needed for a school budget to pass.
The public will still vote on the district’s budget proposal. If
the proposed tax levy increase (before exemptions) is above the
tax levy limit the support of a supermajority (60 percent) of
voters would be required for budget passage. If the levy is
within the limit, a simple majority is needed for budget
approval.
Click here
for more information about the new
property tax cap, and its implications for
school districts and taxpayers statewide.
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