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TAX CAPS IN NEW YORK STATE

TAX CAPS IN NEW YORK STATE. Meaningful Relief or Snare and Delusion?. BETSEY SWAN President League of Women Voters of NYS. New York State Commission on Property Tax Relief. Charge Examining the causes of high property taxes

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TAX CAPS IN NEW YORK STATE

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  1. TAX CAPS IN NEW YORK STATE Meaningful Relief or Snare and Delusion? BETSEY SWAN President League of Women Voters of NYS

  2. New York State Commission on Property Tax Relief • Charge • Examining the causes of high property taxes • Identifying ways to make the State’s property tax system fairer • Developing a fair and effective school property tax cap to hold the line on property tax growth • Assumptions • Education must not be compromised • New Yorkers wanted a high level of educational services • New York had adopted foundation approach to education, funded by income tax

  3. Recommendations • Tax Cap: 4% or 120% CPI • Enact STAR Circuit Breaker • Mandate Relief • Countywide Property Tax Assessment and Uniform Statewide Assessing Standards.

  4. RANK OF MEDIAN REAL ESTATE TAXES NY MA TX CA Miss Absolute 4 6 14 10 47 % Value 17 20 1 37 45 % Income 6 9 14 15 47

  5. Nassau County • Median Property Taxes Paid on Homes: $8,478Rank: 1Median Home Value: $494,000Taxes as Percent of Home Value 2.21% Rank 26

  6. Westchester County Median Property Taxes Paid on Homes: $8,474Rank: 2Median Home Value: $562,700Taxes as Percent of Home Value: 1.51%Rank: 251

  7. Orleans County Median Property Taxes Paid on Homes: $2,610Rank: 212Median Home Value: $87,200Taxes as Percent of Home Value: 2.99%Rank: 1

  8. Niagara County Median Property Taxes Paid on Homes: $2,773Rank: 173Median Home Value: $97,900Taxes as Percent of Home Value: 2.83%Rank: 2

  9. New York County Median Property Taxes Paid on Homes: $4,096Rank: 54Median Home Value: $840,100Taxes as Percent of Home Value: 0.49%Rank: 1494

  10. WHERE DOES THIS LEAVE NEW YORK? • New York has abandoned foundation aid. • Tax levy is not the tax rate. 2% cap will allow less than 2% budget increase. • Property poor districts are likely to see taxes rise more than 2% with the 2% levy cap. • Disparity between rich and poor districts will increase in New York. • Relief inadequate for those most in need.

  11. State Mean Actual State & Local High Poverty/Low Revenue per PupilPoverty Ratio 2007 2008 Change 2007 2008 Change NY $17,247 $18,347 $1,100 0.82 0.84 .02 MA $14,355 $14,714 $359 1.19 1.23 .04 CA $9,774 $10,106 $332 1.03 1.08 0.05 TX $8,813 $9,076 $263 0.93 0.94 0.01 MISS $7,102 $7,588 $486 0.96 0.95 -.01 IS SCHOOL FUNDING FAIR: A NATIONAL REPORT CARD (2010), at http://www.schoolfundingfairness.org/National_Report_Card.pdf , Bruce Baker of Rutgers and David Sciarra and Danielle Farrie of the Education Law Center

  12. REAL PROPERTY WEALTH PER STUDENT AND AMOUNT SPENT PER STUDENT County District $/Student Real Prop/Student Nassau Franklin Sq. $15,700 $692.428 Mineola $31,747 $1,208,925 Great Neck $29,002 $1,765,290 Westchester Pocantico Hills $38,261 $3,331,394 Scarsdale $25,980 $1,509,200 Rye $21,875 $1,619,722 Port Chester $18,413 $710,778 Orleans Albion $14,548 $151,520 Kendall $18,141 $180,072 Niagara Royalton $14,317 $191,486 Barker $18,127 $677,454 SED 2008/2009

  13. BUDGET INCREASE WITH 2% TAX LEVY CAP County District Maximum % Budget Can Increase Within 2%Tax Cap Nassau Franklin Square 1.4% Great Neck 1.9% Mineola 1.8% Westchester Pocantico Hills 1.6% Scarsdale 1.8% Rye 1.8% Port Chester 1.4% Orleans Albion .5% Kendall .7% Niagara Barker .4% Royalton .8% Statewide School Tax Consortium, using 2010 SED Data

  14. STATEWIDE DATA: BUDGET INCREASE WITH 2% CAP ON TAX LEVY Increase Districts % of Districts .5% and Below 100 15% .6% to 1% 266 40% 1.1% to 1.5% 191 29% 1.6% to 1.9% 100 15% Statewide School Tax Consortium, using 2010 SED Data

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