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New York News
Mon May 14, 2012
New York Voters Cast Ballots on School Budgets
Governor Andrew Cuomo's tax cap is being put to the test as voters cast ballots on the first batch of school budgets drafted under the new taxing limits.
Most districts have proposed budgets that stay within the boundaries established under the cap adopted last year, so it will take a simple majority of votes Tuesday for them to pass.
About 50 districts, hoping to lessen staff and program cuts, are asking taxpayers for a bigger increase in the property tax levy than the cap allows. Those budgets will need a 60 percent "super majority" to pass.
The cap restricts districts from increasing property taxes by more than 2 percent or the rate of inflation, whichever is less. There are some exemptions like pension costs.
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