Feb 22, 2012 11:53 AM
The Quogue Village Board approved a local law last week that will allow it, if necessary, to exceed the state’s new mandated tax cap should the need arise while hammering out the 2012-13 budget.
The board approved the law 4-0 during its last meeting, held on February 15. If necessary, the board can now pierce the 2 percent tax cap if at least three of its five members—a supermajority—approve the spending plan. Board member Kimberley Payne was not present at last week’s meeting.
The new tax cap limits how much local governments and school districts can collect in new taxes each year. Under the new rules, the tax levy, which is the total amount of property tax revenue collected, cannot be increased by more than 2 percent or the rate of inflation,... more
The board approved the law 4-0 during its last meeting, held on February 15. If necessary, the board can now pierce the 2 percent tax cap if at least three of its five members—a supermajority—approve the spending plan. Board member Kimberley Payne was not present at last week’s meeting.
The new tax cap limits how much local governments and school districts can collect in new taxes each year. Under the new rules, the tax levy, which is the total amount of property tax revenue collected, cannot be increased by more than 2 percent or the rate of inflation,... more
And why not?