Cuomo's Tax Cap Wins the Day

[ej510]

Shortly after the ink dried on his signature on New York's property-tax cap law, Gov. Andrew Cuomo took a victory lap around the state.

"It will help revitalize the state's economy and send a message to the rest of the country that New York is no longer the tax capital of the nation," Cuomo said at a ceremonial signing last week in Monroe County.

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"We're still looking through the nuts and bolts of calculating the cap. There are a lot of moving parts," said David Albert, a spokesman for the New York State School Boards Association.

While observers say the new law will likely force local governments to better control their spending, it will also squeeze them by limiting their ability to raise revenue amid budget cuts from state and federal governments, and could jeopardize their bond ratings.

Cont'd at the link: http://www.bondbuyer.com/issues/120_131/cuomo-property-tax-cap-1028714-1.html

New Yorkers should remember this when their schools have even less funds for resources this fall. All part of privatizing the school system.