The following letter was sent from the New York State Educational Conference Board to the Department of Taxation and Finance regarding two outstanding issues surrounding the tax cap.
December 7, 2015
Dear Commissioner Boone,
In the 2015 legislative session, the Legislature and Governor enacted Chapter 20, authorizing your office to“promulgate rules and regulations” regarding how two components of the property tax cap are calculated: how tax exempt properties are accounted for in the quantity change factor and the exclusion of expenses related to Board of Cooperative Educational Services (BOCES) capital expenditures.
While our organizations have many concerns with the property tax cap law, these two issues are cited frequently and are critical corrections, especially when the tax cap levy limit will be at or near zero for the 2016-17 school year.