New State Comptroller Report Highlights Tax Cap Compliance
Kingston, NY – July 8, 2015 – (RealEstateRama) — In the New York State Comptroller’s report entitled “County Tax Cap Recap,” New York State Comptroller Thomas P. DiNapoli summarized tax cap compliance actions taken by counties throughout the State. Enacted in 2011, the Property Tax Cap legislation limits the amount by which local governments and school districts can raise property taxes – to the lesser of the rate of inflation or 2 percent.
According to State Comptroller DiNapli’s report, Ulster County is the only county in the surrounding area to remain under the Tax Cap limit for all four years and qualify its’ residents for tax rebate checks in 2016. But even more importantly, since 2012, the first year the Tax Cap legislation took effect, Ulster County has not only remained below the Tax Cap, Ulster County has actually reduced the County Property Tax Levy each year, and the County Executive has committed to a fifth year of Property Tax relief in 2016. Ulster County is one of the only counties in the State of New York to accomplish this level of property tax relief.
County Executive Hein said, “New York taxes are too high but in Ulster County we’re doing something about it because taxpayers need help. It’s notable that the Comptroller’s report reaffirms Ulster County as a Statewide leader in financial management, but I am equally proud that more services are available today than ever before. By reinventing government while still insuring quality services, Ulster County has moved away from the brink of bankruptcy to become one of the most financially stable County governments in the State. It is important to note, that while some have only been able to qualify local taxpayers for State rebates checks, we have gone one step further and also delivered real property tax cuts for our residents too.”
Ulster County Commissioner of Finance and Budget Director Burt Gulnick stated that “this report acknowledges that Ulster County government has been transformed by the hard work, innovative reforms and the difficult decisions made by County Executive Hein over the past four years. His choices and solutions have improved the County’s financial standing and ultimately resulting in an increased bond rating that benefits our taxpayers.”
– See more at: http://ulstercountyny.gov/news/executive-press-releases/new-york-comptrollers-report-identifies-ulster-county-leader-region#sthash.hxh0jsbZ.dpuf
