NY STATE PROPERTY TAX CAP

1. NY STATE PROPERTYTAX CAP BY: Ashley Hiep, Maggie O’Rourke, Ashley Glazer, Jim Huber

2. Who Wants it? Gov. Cuomo passed this law that caps school and local taxes. Helps schools and local government with spending less. Less than 2% taxes. Tax payers in town…that don’t work in schools. ****Cities and towns vote for this law.

3. Who doesn’t want it. "It is a shame and certainly superficial that the recent strategy by the state of a property tax cap with no curbing of state mandates is merely a thinly disguised masquerade," she said. -- Kathy Jimino Rensselaer County Executive “We should be able to dictate our own financial future,” --Lee V. A. Roberts supervisor in the Westchester County **The Town Board has already voted to grant itself a waiver from the cap.

4. KEY TERMS • Property Tax Cap- The tax cap law establishes a limit on the annual growth of property taxes levied by local governments and school districts to two percent or the rate of inflation, whichever is less.   • Tax Levy – How much taxes are being imposed on the affected people • Inflation- A general increase in prices and fall in the purchasing value of money. • The “New N.Y. Government Reorganization and Citizen Empowerment Act” (Empowerment Act) –it allows citizens to reorganize and modernize government through dissolving or consolidating local governments. • Taxes - A fee charged("levied") by a government on a product, income, or activity. If tax is levied directly on personal or corporate income, then it is a direct tax. If tax is levied on the price of a good or service, then it is called an indirect tax. The purpose of taxation is to finance government expender.

5. Key People • New York Governor Andrew Cuomo’s created this relief plan because he claims it’s what the people want and need. Voters were begging for relief and this is his answer. • The president of New York State United Teachers, Richard Lannuzzis completely against the tax cap. He believes the cap will devastate schools and cause necessary programs to be cut. Budget cuts have been severe in the last few years and taking away more money is going to completely change our school systems. • Richard Bivone, a member of the Long Island Business Council says the tax cap is great for his county. The tax cap will help private business who because lack of money have had to leave the state. Nassau county has the highest property taxes and they only keep increasing, forcing many to move away. Long Island is collapsing under the weight of taxes, they need reform and this plan seems to be the only way. • Kathleen M. Jiminois for the relief plan however, she believes that it won’t be successful without other changes. The state mandates certain bills nevertheless, with prices and spending increasing and tax money decreasing we will not have sufficient funds.