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Posted October 21, 2011
During the coming months, the North
Colonie Central 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.
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Save The Date! |
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Learn more about New York's tax levy cap and North Colonie's
preliminary budget outlook at an information session on
November 14 at 7:00 p.m. in the Shaker High School
Media Center.
District officials will explain the ramifications of the tax
levy cap and what it means for you and North Colonie.
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The law has been misconstrued and misrepresented
in media sound bites as a “2 percent tax cap.” In fact, the law does
not restrict any proposed tax levy increase to 2 percent. Instead,
the law determines what level of support is needed for a school
budget to pass. If the tax levy increase is above the tax levy
limit—after accounting for exemptions—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.
To provide some clarification on this evolving
topic, Capital Region BOCES, in partnership with Questar III, has
released the publication "Understanding New York's Property Tax Levy
Cap as it Relates to Public Schools."
Tax Levy Cap - In the News...
Uncapping a taxing formula - Colonie Spotlght (October
20, 2011)
Tax cap called 'mean-spirited' - Times Union (September
23, 2011)
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Understanding
New York's tax levy cap
