A NEW APPROACH. FTA Revenue Estimation & Tax Research Conference Portland, Maine September 16, 2008
|
|
|
- Lewis Welch
- 5 years ago
- Views:
Transcription
1 A NEW APPROACH FTA Revenue Estimation & Tax Research Conference Portland, Maine September 16, 2008
2 $38 billion in 2005, more than combined NYS & NYC PIT of $34 billion In FY 05, NYS ranked #2 in state & local taxes per $1,000 of personal income (NYS=$150, U.S. avg.=$113) NYS ranked #1 in local taxes per $1,000 (NYS=$82, U.S. avg.=$46) From 2000 to 2006, property taxes in NYS increased 42% 1998 STAR (School Tax Relief) Program Provides exemption amounts from full value of home. Seniors get higher exemption called Enhanced STAR if income below threshold (currently about $70,000). Must verify income each year either by allowing DTF to do it or by proving income to local assessor. State reimburses school districts. NYC gets additional relief through City PIT credit and City PIT rates. SFY 08-09, STAR exemptions worth $3.6 billion.
3 2006 STAR Rebates Automatic payments from State to basic STAR exemption recipients based upon formula: school district tax rate was determining factor. Seniors (Enhanced STAR exemptions) received more. Rebates went to 3.4 million homeowners worth $682 million STAR Rebates Higher rebates with formula amended to be based upon school district segment. Income test for Basic rebates: 3 brackets, no rebate if income >$250K Must file an application and give SSN so DTF can match against PIT file and capture income. Enhanced STAR still no application. Rebates went to 3 million homeowners worth $1.1 billion, 2008 rebates to be worth over $1.2 billion.
4 NYS Commission on Property Tax Relief formed by Executive Order in January. Issued report in June recommending a property tax cap to be followed by new circuit breaker credit. In August, Senate backed Governor s proposal for a tax cap. Assembly rejected the cap, but passed a circuit breaker financed by a PIT increase on millionaires Property taxes will be a major issue in NYS. We will need improved analytic tools. For circuit breaker fiscal notes, relied on American Communities Survey (ACS) from U.S. Census Bureau: Provides information for about 85,000 NYS households. Includes data on: household income, property taxes, property values, rent, utility costs, etc. Small sample of both homeowners & renters; reliability of answers in survey; inability to provide regional analysis.
5 First time, able to link together micro records for local property tax and personal income tax. Property tax information based on parcel location, PIT information based on taxpayer how to link them up? 2007 STAR rebates now give us the key through the application process that has taxpayer name, address of residence, and most importantly, SSN. We created a data set of 3 million individual records that has property tax, income tax, and rebate information. File is missing STAR recipients with income >$250K, and PIT information for Enhanced STAR seniors who do not use automatic verification. PIT File NYS DTF, 2005, 8.3 million records Property Tax Files NYS ORPS, 2007, 2.6 million records NYC Finance, CFY 07-08, 1.0 million records STAR Rebate File ORPS/NYC Finance/DTF, 2007, 2.9 million records Enhanced STAR Rebate File ORPS/NYC Finance/DTF, 2007, 155,000 records
6 Used SAS for data file manipulations and merging process Merges were done using SSN, ORPS ID, Municipal Code, Parcel Code, and NYC BBLE (Borough, Block, Lot, & Easement) Code as linking variables Used separate merging processes for Non-NYC and NYC homeowners and generated separate final data files 1. Enhanced STAR Rebate SSN file was merged with PIT file by SSN to add property information for Enhanced STAR Rebate recipients on PIT file (Non-NYC and NYC) 2. PIT file enriched with information from Step 1 was merged with STAR Rebate file by SSN to add property and rebate information for other STAR Rebate recipients (Non-NYC and NYC) 3. Alpha match was done using names from PIT file and from STAR Rebate file to add PIT information for STAR Rebate recipients for whom we did not have SSN (Non-NYC and NYC) 4. Resulting file from Step 3 was merged with ORPS Property Tax File by ORPS_ID and Municipal Code to add property tax information (Non-NYC)
7 5. County and Municipal tax rates from OSC were added to the file created in Step 4 (Non-NYC) 6. A number of variables, including property tax amounts, were estimated for policy analysis purposes (Non-NYC) ==> The resulting file has income and property tax information for about 2.3 million Non-NYC taxpayers 7. Step 4 was done for NYC records with NYC Property Tax file using BBLE as the linking variable, generating a file with approximately half a million records 8. Variables created for NYC file to ensure concepts and naming convention were consistent with Non-NYC file, so analysis could be performed for entire State FILE SIZE # of records: # of variables: about 200 Non-NYC: 2.3 million NYC: 540,000 Total NYS: approx. 2.9 million UNIVERSE INCLUDES: STAR Rebate recipients who merged with ORPS/NYCFO Property tax files EXCLUDES: o Qualified homeowners who did not file for the Rebate o Taxpayers/homeowners with income greater than $250,000 o STAR Rebate recipients who did not merge with the ORPS Property tax file
8 Different formats for different data files Large data files with millions of records and hundreds of variables o o o o In the merging process we did not get 100% matches because: Different timing for the update of different files Some of the files included information for 2 different years Missing PIT information for some Enhanced STAR Rebate recipients Multi-residential units Double counting issue for married couples included as two records Issues with the Enhanced STAR SSN file from local assessors NYC vs non-nyc Property Tax files Years not matching across the different files Excludes most homeowners with income greater than $250,000 because we do not have SSN info for them to merge with the PIT file Missing information on property taxes for villages (close to 1,000), fire districts (about 500), and other special districts ==> Incomplete picture of full local property tax burden for many communities
9 Circuit Breaker Tax Credit Development Winners & Losers versus Current STAR Rebates Regional Analysis by County & School District May even be Audit possibilities
State Handbook of Economic, Demographic, and Fiscal Indicators New Jersey. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicators 2008 New Jersey by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicators
The Omnibus Property Tax Relief and Reform Act
The Omnibus Property Tax Relief and Reform Act As part his proposed Education, Labor, and Family Assistance Article VII budget bill (S-A/A1- A, Governor David A. Paterson has proposed repealing the Middle
State Handbook of Economic, Demographic, and Fiscal Indicators New York. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicators 2006 New York by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicators 2006
INSTRUCTIONS FOR HOMEOWNER TAX BENEFIT APPLICATION FOR STAR EXEMPTION
NYC DEPARTMENT OF FINANCE l PROPERTY DIVISION INSTRUCTIONS FOR HOMEOWNER TAX BENEFIT APPLICATION FOR STAR EXEMPTION This application is for the following homeowner property tax benefit programs: n n Basic
State Handbook of Economic, Demographic, and Fiscal Indicators New York. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicators 2008 New York by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicators 2008
Department of Legislative Services
Department of Legislative Services Maryland General Assembly 2008 Session SB 618 FISCAL AND POLICY NOTE Senate Bill 618 Budget and Taxation (Senator Jones, et al.) Property Tax - Homeowners' Property Tax
State Handbook of Economic, Demographic, and Fiscal Indicators Rhode Island. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2003 Rhode Island by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars 2003
State Handbook of Economic, Demographic, and Fiscal Indicators South Carolina. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicators 2003 South Carolina by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicators
State Handbook of Economic, Demographic, and Fiscal Indicators New Mexico. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2003 New Mexico by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars 2003
State Handbook of Economic, Demographic, and Fiscal Indicators New Mexico. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2006 New Mexico by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars 2006
State Handbook of Economic, Demographic, and Fiscal Indicators New Mexico. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2008 New Mexico by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars 2008
EAST GREENBUSH CENTRAL SCHOOL DISTRICT School Taxes Questions and Answers
EAST GREENBUSH CENTRAL SCHOOL DISTRICT 2016-2017 School Taxes Questions and Answers When should I expect my tax bill in the mail? Your tax bill will be mailed on September 7, 2016. When is the tax collection
State Handbook of Economic, Demographic, and Fiscal Indicators Georgia. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2006 Georgia by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars 2006 represents
State Handbook of Economic, Demographic, and Fiscal Indicators Massachusetts. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2008 Massachusetts by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars
State Handbook of Economic, Demographic, and Fiscal Indicators Alabama. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2008 by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars 2008 represents
State Handbook of Economic, Demographic, and Fiscal Indicators North Carolina. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2003 North Carolina by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars
Data and Information Gathering: Lessons Learned in Developing D.C. s First Tax Expenditure Evaluation Report
Data and Information Gathering: Lessons Learned in Developing D.C. s First Tax Expenditure Evaluation Report Charlotte Otabor and Lori Metcalf, Fiscal Analysts Federation of Tax Administrators Conference
State Handbook of Economic, Demographic, and Fiscal Indicators Mississippi. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2008 by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars 2008 represents
FY 2017 Executive Budget Overview Robert F. Mujica, Budget Director
FY 2017 Executive Budget Overview Robert F. Mujica, Budget Director In the last five years, we have accomplished much and today, the arrows are pointed in the right direction... We went from 50 years of
District of Columbia
State Handbook of Economic, Demographic, and Fiscal Indicars 2008 District of Columbia by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars
State Handbook of Economic, Demographic, and Fiscal Indicators Arizona. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2008 Arizona by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars 2008 represents
State Handbook of Economic, Demographic, and Fiscal Indicators South Carolina. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2006 South Carolina by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars
MAINE STATE LEGISLATURE
MAINE STATE LEGISLATURE The following document is provided by the LAW AND LEGISLATIVE DIGITAL LIBRARY at the Maine State Law and Legislative Reference Library http://legislature.maine.gov/lawlib Reproduced
HEA 1001 More than Property Tax Relief September 12, 2008
HEA 1001 More than Property Tax Relief September 12, 2008 1 HEA 1001 More Than Property Tax Relief Expansion of Circuit Breaker Tax Credits Creates a financial interdependency of all local schools and
State Handbook of Economic, Demographic, and Fiscal Indicators Oklahoma. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2008 Oklahoma by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars 2008
HOUSE... No The Commonwealth of Massachusetts. HOUSE OF REPRESENTATIVES, November 6, 2017.
HOUSE....... No. 4001 The Commonwealth of Massachusetts HOUSE OF REPRESENTATIVES, November 6, 2017. The committee on Revenue to whom were referred the petition (accompanied by bill, Senate, No. 1506) of
6TH EDITION STATE HANDBOOK OF ECONOMIC, DEMOGRAPHIC & FISCAL INDICATORS. by David Baer PUBLIC POLICY INSTITUTE
STATE HANDBOOK OF ECONOMIC, DEMOGRAPHIC & FISCAL INDICATORS 2006 by David Baer 6TH EDITION 2006 AARP. Reprinting only with permission. PUBLIC POLICY INSTITUTE Table of Contents Pages Acknowledgments...iv
EAST GREENBUSH CENTRAL SCHOOL DISTRICT School Taxes Questions and Answers
EAST GREENBUSH CENTRAL SCHOOL DISTRICT 2017-2018 School Taxes Questions and Answers When should I expect my tax bill in the mail? Your tax bill will be mailed on September 13, 2017. When is the tax collection
Property Tax Exemptions
Property Tax s Presented to the Monroe County School Boards Association November 13, 2014 Presented by: Lou Alaimo, Assistant Superintendent Brighton Central School District Discussion Items Overview of
For more information on Equalization Rates, see
Home s The study looks at local tax burdens for homes with 2004 market values of $272,000, $377,000 and $586,000. These are our estimates of the values of homes at the 2 5th, 50 th and 75th percentiles
Give Maine s Working Families a Break
May 3, 2013 Introduction Give Maine s Working Families a Break Fix and Fund the Circuit Breaker By Joel Johnson Property tax increases in Governor LePage s budget proposal mean more hardship is in store
Property Taxation 101 Updated August 2016
Property Taxation 101 This guide is intended to describe the basics of Minnesota s property tax system. This system collected just over $6.7 billion in 2016 to help fund the services of schools, counties,
Property Tax Relief Frequently Asked Questions Act 72 of 2004: The Homeowner Tax Relief Act
Property Tax Relief Frequently Asked Questions Act 72 of 2004: The Homeowner Tax Relief Act The following pages contain questions and answers on five Act 72 topics: How To Qualify For Property Tax Relief...Page
Blue Ribbon Tax Structure Commission. Education Property Tax Discussion October 26, 2010
Blue Ribbon Tax Structure Commission Education Property Tax Discussion October 26, 2010 Goal of Today s Discussion 1. Explore three hybrid models for the statewide education property tax requested previously
We reviewed past studies and recommendations on property tax reform, and established the following series of principles to guide our recommendations:
Report of the Property Tax Reform Task Force of the New Jersey State League of Municipalities: The Case for a Major Property Tax Cut, and an Examination of Policy Options New Jersey needs to cut property
Overview of Property Taxes. Presentation to House Property and Local Tax Division January 2017
Overview of Property Taxes Presentation to House Property and Local Tax Division January 2017 State and Local Taxes ($32.9 billion in FY 2017) Individual Income 34% Property 28% Other Local Taxes 2% Sales
The Property Tax Freeze and What It Means to Your Community. Local Government Conference March 26, 2015 Barbara Van Epps NYCOM Deputy Director
The Property Tax Freeze and What It Means to Your Community Local Government Conference March 26, 2015 Barbara Van Epps NYCOM Deputy Director 1 Property Tax Freeze Outline Overview of the Tax Freeze Taxpayer
State Handbook of Economic, Demographic, and Fiscal Indicators Washington. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2008 Washingn by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars 2008
Robert J. Schillerstrom. Chairman: DuPage County Board. Ad Hoc Committee on Residential Exemptions
Robert J. Schillerstrom Chairman DuPage County Board Ad Hoc Committee on Residential Exemptions Committee Report September 2004 Committee Members: Chairman: Vice-Chairman: Grant Eckhoff Tom Bennington
DIVISION OF LOCAL GOVERNMENT AND SCHOOL ACCOUNTABILITY REPORT OF EXAMINATION 2018M-216. Town of Lyons. Real Property Tax Exemptions Administration
DIVISION OF LOCAL GOVERNMENT AND SCHOOL ACCOUNTABILITY REPORT OF EXAMINATION 2018M-216 Town of Lyons Real Property Tax Exemptions Administration FEBRUARY 2019 Contents Report Highlights.............................
State Handbook of Economic, Demographic, and Fiscal Indicators United States. by David Baer PUBLIC POLICY INSTITUTE AARP
State Handbook of Economic, Demographic, and Fiscal Indicars 2003 United States by David Baer PUBLIC POLICY INSTITUTE AARP Introduction The State Handbook of Economic, Demographic, and Fiscal Indicars
ALICE Model Property Tax Circuit Breaker Act 1
ALICE Model Property Tax Circuit Breaker Act 1 Rationale: Circuit breakers are an alternative to across-the-board tax cuts for taxpayers at all income levels. By limiting property taxes to a percentage
Senior Citizen Homeowners Exemption
SCHE Senior Citizen Homeowners Exemption PRE-QUALIFYING CHECKLIST & INCOME WORKSHEET FOR 2019/2020 Please complete but do not submit with your application Are you eligible for the Senior Citizen Homeowners
Property Tax Relief in New England
Property Tax Relief in New England January 23, 2015 Adam H. Langley Senior Research Analyst Lincoln Institute of Land Policy www.lincolninst.edu Property Tax as a % of Personal Income OK AL IN UT SD MS
DRIVEWAY (Residential) PERMIT
Application Packet for Plan Review & DRIVEWAY (Residential) PERMIT ZONING OVERVIEW: The purpose of Zoning Ordinances & the place of Zoning Permits promoting the health, safety, morals and the general welfare
Property Tax Cap For Local Governments. Topics for Today s Session
Property Tax Cap For Local Governments Maria Stamoulis & Elise Amodeo Monitoring and Analysis Unit 1 Topics for Today s Session Overview of Property Tax Cap Legislation Common Errors Reporting Requirements
School District Property Tax Review
Fall 2011 School District Property Tax Review Property Tax Reform Policy Development Team Representative Seth Grove Team Co-Leader Majority Policy Chairman Representative Dave Reed Representative Jim 1
State Options for Replacing Local Property Taxes
Office of Legislative Services Background Report State Options for Replacing Local es OLS Background Report No. 127 Prepared By: Revenue, Finance and Appropriations Date Prepared: New Jersey State Legislature
Background & Overview
EXHIBIT C Senate Committee on Revenue and Economic Development Date: 2-14-2017 Total pages: 69 Exhibit begins with: C1 thru: C69 Background & Overview Applied Analysis was retained by the Local Government
The Property Tax in New York State. Condition Report Prepared for the Education Finance Research Consortium December 2008
The Property Tax in New York State Nelson A. Rockefeller Institute of Government 411 State Street Albany, New York 12203 Condition Report Prepared for the Education Finance Research Consortium December
VALLEY VIEW SCHOOLS DISTRICT 365U Tax Levy Information
VALLEY VIEW SCHOOLS DISTRICT 365U 2015 Tax Levy Information Where do we get our funding? Local resources - $184.8 million (73%) mainly comprised of property taxes and user fees State funding - $51.9 million
POLICY OPTIONS TO IMPROVE SCHOOL FINANCE EFFICIENCY AND EQUITY IN A TIME OF AUSTERITY
POLICY OPTIONS TO IMPROVE SCHOOL FINANCE EFFICIENCY AND EQUITY IN A TIME OF AUSTERITY Schools and Youth Panel The State of Upstate New York June 9, 211 William Duncombe, Professor of Public Administration
A Targeted Property Tax Relief Program for Georgia Acknowledgments
Acknowledgments I want to thank Lakshmi Pandey for help in putting the data together and David Sjoquist for valuable comments on this report. ii Table of Contents Acknowledgments...ii I. Introduction...
Colorado Legislative Council Staff
Colorado Legislative Council Staff Room 029 State Capitol, Denver, CO 80203-1784 (303) 866-3521 FAX: 866-3855 TDD: 866-3472 www.colorado.gov/lcs E-mail: lcs.ga@state.co.us M E M O R A N D U M November
Alternative Veterans Exemption and School Taxes
Alternative Veterans Exemption and School Taxes Whitney Point Central School District PUBLIC HEARING FEBRUARY 2, 2016 Veteran s Exemptions Currently Available for towns, counties, cities and villages only
DIVISION OF LOCAL GOVERNMENT AND SCHOOL ACCOUNTABILITY REPORT OF EXAMINATION 2018M-210. Town of Milo. Real Property Tax Exemptions Administration
DIVISION OF LOCAL GOVERNMENT AND SCHOOL ACCOUNTABILITY REPORT OF EXAMINATION 2018M-210 Town of Milo Real Property Tax Exemptions Administration JANUARY 2019 Contents Report Highlights............................
Property taxes are the only major revenue source for which the Illinois state and local tax burden
CHAPTER SEVEN ILLINOIS PROPERTY TAXES Property taxes are the only major revenue source for which the Illinois state and local tax burden exceeds the national average indicating a fundamental imbalance
P roperty taxes are the only
CHAPTER FOUR ILLINOIS PROPERTY TAXES The Total Illinois Property Tax Burden W hile property taxes have declined as a share of taxes nationwide, the share of state and local tax revenue derived from the
DIVISION OF LOCAL GOVERNMENT AND SCHOOL ACCOUNTABILITY REPORT OF EXAMINATION 2018M-209. Town of Bath. Real Property Tax Exemptions Administration
DIVISION OF LOCAL GOVERNMENT AND SCHOOL ACCOUNTABILITY REPORT OF EXAMINATION 2018M-209 Town of Bath Real Property Tax Exemptions Administration JANUARY 2019 Contents Report Highlights.............................
Indiana s Property Tax Reforms, and Beyond
Purdue Cooperative Extension Service Indiana s Property Tax Reforms, 2008-2010 and Beyond Larry DeBoer Department of Agricultural Economics Purdue University Farm Policy Study Group July 8, 2010 For more
Wisconsin Department of Revenue Biennial Budget Request. Secretary Rick Chandler March 4, 2015
Wisconsin Department of Revenue 2015-17 Biennial Budget Request Secretary Rick Chandler March 4, 2015 1 2 Key Issues Property tax relief Tax simplification Property assessment reform Audit initiative Anti-fraud
2015 NYSAC Fall Seminar Essex County, NY Standing Committee on Taxation and Finance
2015 NYSAC Fall Seminar Essex County, NY Standing Committee on Taxation and Finance Charles Nesbitt, Jr. (Orleans County) Chair Hon. Arthur Johnson (Saratoga County) Vice Chair 80 2015 NYSAC Fall Seminar
Tax Incidence Analysis First & Second Omnibus Tax Bills
Tax Incidence Analysis Prepared by the Tax Research Division, Minnesota Department of Revenue June 18, 2014 2014 First & Second Omnibus Tax Bills Chapter 150 (H.F. 1777 as enacted on March 21, 2014) and
Sound Tax Policy Coming to New York (?)
Sound Tax Policy Coming to New York (?) Fiscal Fact No. 129 by Josh Barro June 6, 2008 New York may be making an unconstitutional grab 1 for sales taxes from out-of-state businesses, but it appears that
Background & Overview
Background & Overview Applied Analysis was retained by the Local Government Fiscal Working Group to review and analyze issues related to Nevada s tax system, including, without limitation, those specific
C.A.A.O School Legislative Update
C.A.A.O School - 2018 Legislative Update THE BUDGET BILL P.A. 18 81 Signed 5/15/2018 SECTION 23 Specifies grant amounts for Fiscal year ending June 30, 2019 for: Bridgeport; Easy Hartford; Hamden; Hartford;
If these other conformity issues are left unaddressed, they will will increase state tax liability for many business taxpayers.
TO: FROM: SUBJECT: DATE: 5/15/18 Majority Leader John Flanagan Ken Pokalsky Additional TCJA Issues For many states, including New York, state-level business and personal income taxes are based on the federal
Real Estate Tax Credit for Persons Age 65 and Older (known as the Circuit Breaker Credit)
The Official Website of the Department of Revenue (DOR) Department of Revenue About DOR Home Individuals Filing and Payment Information Guide to Personal Income Tax Credits Real Estate Tax Credit for Persons
DIVISION OF LOCAL GOVERNMENT AND SCHOOL ACCOUNTABILITY REPORT OF EXAMINATION 2018M-215. Town of Moravia. Real Property Tax Exemptions Administration
DIVISION OF LOCAL GOVERNMENT AND SCHOOL ACCOUNTABILITY REPORT OF EXAMINATION 2018M-215 Town of Moravia Real Property Tax Exemptions Administration FEBRUARY 2019 Contents Report Highlights.............................
THE FISCAL HEALTH OF INDIANA S LARGER MUNICIPALITIES: CITY OF BLOOMINGTON MUNICIPAL PROFILE
THE FISCAL HEALTH OF INDIANA S LARGER MUNICIPALITIES: CITY OF BLOOMINGTON MUNICIPAL PROFILE by John Stafford March 2016 1 CITY OF BLOOMINGTON MUNICIPAL PROFILE MARCH 2016 Introduction This document is
RE: TAX LEVY INFORMATION
Board Member: October 14, 2010 RE: TAX LEVY INFORMATION Cook County Multiplier/Level of Assessments Over the past year, a fundamental change in the property tax assessment process for Cook County was enacted
How State Policies Impact Local Property Taxes. Adam H. Langley
How State Policies Impact Local Property Taxes Adam H. Langley 1 Pennsylvania Tax Swap Property Tax Independence Act (SB 67) Eliminate school property tax, except for debt service Income tax: 3.07% to
CHENANGO COUNTY TENTATIVE BUDGET Preliminary Budget For Board Review
CHENANGO COUNTY TENTATIVE BUDGET 2017 2017 Preliminary Budget For Board Review 1) Have a balanced budget using reasonable revenue and expense expectations. 2) Other than in exigent circumstances adhere
1. The proposed state budget falls far short of providing an adequate level of support to enable schools to maintain current services.
February 2016 FOUR KEY POINTS About School Aid and the 2016-17 New York State Executive Budget 1. The proposed state budget falls far short of providing an adequate level of support to enable schools to
New York s Budget Situation and Governor Spitzer s Cost Savings Plan
Testimony of Frank J. Mauro, Executive Director, Fiscal Policy Institute, to the Senate Finance Committee and the Assembly Ways & Means Committee, February 28, 2007 On January 31, 2007, Governor Eliot
Modeling Tax Reform in Maine. Outline of Presentation
Modeling Tax Reform in Maine Michael Allen and David Gunter Economic Research Division Maine Revenue Services September 15, 2009 Outline of Presentation Maine s individual income tax and sales tax models
The Tax Cuts and Jobs Act. Five scenarios
The Tax Cuts and Jobs Act Five scenarios December 2017 Five real-life scenarios Here are five scenarios to demonstrate how the Tax Cuts and Jobs Act (TCJA) will affect taxpayers. These scenarios demonstrate
PROPERTY TAX FREEZE CREDIT
PROPERTY TAX FREEZE CREDIT Raymond Castellani Superintendent of Schools Patrick Witherow Director of Business & Finance May 1, 2014 1 Property Tax Freeze Credit The 2014-15 enacted State budget establishes
Executive Overview and Summary: The Economic Effects of the 7% Assessment Cap in Cook County
Institute of Government and Public Affairs 815 W. Van Buren Street Suite 525 Chicago, Illinois 60607 Executive Overview and Summary: The Economic Effects of the 7% Assessment Cap in Cook County Richard
Thank you for the opportunity to speak today regarding H.B
Prepared Comments Regarding H.B. 1004 Gary Malone, CPA December 9, 2009 Mr. Chairman and Members of the Committee: Thank you for the opportunity to speak today regarding H.B. 1004. My name is Gary Malone.
Federal, State, and Local Taxes in NYS. Counties TAXES IN NYS. April Fire districts 1% Villages 2% Library 1% Towns 7% Cities (w/nyc) 18%
TAXES IN NYS Library 1% Fire districts 1% Villages 2% Towns 7% Cities (w/nyc) 18% School Districts 62% Counties 9% Chart Includes NYC Federal, State, and Local Taxes in NYS April 2018 HON. MARYELLEN ODELL
GENERAL ASSEMBLY OF NORTH CAROLINA SECOND EXTRA SESSION 1996 CHAPTER 13 HOUSE BILL 18
GENERAL ASSEMBLY OF NORTH CAROLINA SECOND EXTRA SESSION 1996 CHAPTER 13 HOUSE BILL 18 AN ACT TO REDUCE TAXES FOR THE CITIZENS OF NORTH CAROLINA AND TO PROVIDE INCENTIVES FOR HIGH QUALITY JOBS AND BUSINESS
Property Tax Credits PRESENTED TO THE PRINCE GEORGE S COUNTY TAX CREDIT REFORM COMMISSION APRIL 23, 2018
Property Tax Credits PRESENTED TO THE PRINCE GEORGE S COUNTY TAX CREDIT REFORM COMMISSION APRIL 23, 2018 Tax Credits Granted in FY18 (1) Enterprise Zone Tax Credit. The County is reimbursed by the State
Shifting Property Taxes:
Shifting Property Taxes: A Case Study of Minnesota s Limited Market Value Presentation to Federation of Tax Administrators Revenue Estimated Conference Tax Research Division Minnesota Department of Revenue
Texas Taxpayers and Research Association
Texas Taxpayers and Research Association December 1, 2017 Senator Paul Bettencourt 1 LOCAL TAX BURDENS NATIONALLY Texas has one of the highest property tax burdens in the country, with a median property
Arizona Form 2012 Property Tax Refund (Credit) Claim 140PTC
Arizona Form 2012 Property Tax Refund (Credit) Claim 140PTC NOTICE: If you are age 70 or over and meet certain tests, you may be able to defer the payment of your property taxes on your home. You should
Arizona Form 2011 Property Tax Refund (Credit) Claim 140PTC
Arizona Form 2011 Property Tax Refund (Credit) Claim 140PTC NOTICE: If you are age 70 or over and meet certain tests, you may be able to defer the payment of your property taxes on your home. You should
Staff Presentation to the House Finance Committee June 6, 2017
Staff Presentation to the House Finance Committee June 6, 2017 Objective End ability for municipalities to tax motor vehicles over a fixed period of time and reimburse them for the lost tax revenue 2 History
Lottery Fund. Lottery Fund Financial Statement
January 31, 2017 Lottery Fund The Pennsylvania Lottery had another year of record sales and profits in 2015/16, which delivered larger investments in programs and services that benefit older Pennsylvanians.
Preliminary Findings Village of Painted Post and Town of Erwin Shared Services / Consolidation Study
Preliminary Findings Village of Painted Post and Town of Erwin Shared Services / Consolidation Study April 21, 2011 Prepared for: Village of Painted Post and Town of Erwin Study Committee Prepared By:
Property Tax Deferral: A Proposal to Help Massachusetts Seniors
Property Tax Deferral: A Proposal to Help Massachusetts Seniors Alicia H. Munnell and Abigail N. Walters Center for Retirement Research at Boston College Economic Perspectives on State and Local Taxes
Fiscal Stress Monitoring System
Office of the New York State Comptroller Thomas P. DiNapoli State Comptroller Fiscal Stress Monitoring System Contents I. Establishing the Fiscal Stress Monitoring System...2 a. General...2 b. Municipalities...4
Briefing on Mayor deblasio s Preliminary FY 2016 NYC Budget: Addressing Needs and Budgeting Cautiously as the Recovery Progresses
Briefing on Mayor deblasio s Preliminary FY 2016 NYC Budget: Addressing Needs and Budgeting Cautiously as the Recovery Progresses James Parrott, Deputy Director and Chief Economist Fiscal Policy Institute
Overview of Property Taxes
Overview of Property Taxes A Presentation to the Property and Local Tax Division January 2015 by Steve Hinze Pat Dalton Nina Manzi Joel Michael and Katherine Schill Fiscal Analysis Department Minnesota
City Council Workshop Agenda Item #1
City Council Workshop Agenda Item #1 January 6, 2014 Circuit Breaker Program The City Council has asked staff to provide an update on the process the State Legislature is taking to reinstate a provision
Impact of Federal Tax Reform on New York City
Impact of Federal Tax Reform on New York City Division of Tax Policy New York City Department of Finance Presented at FTA Conference on Revenue Estimating and Tax Research Omaha, NE September 2017 Federal
TRS Benefit Payments by Illinois Legislative District & Their Impact on the Illinois Economy
TRS Benefit Payments by Illinois Legislative District & Their Impact on the Illinois Economy Study Results May 2, 2008 Teachers Retirement System of the State of Illinois Two parts to this study: First
SENATE, No. 10 STATE OF NEW JERSEY. 214th LEGISLATURE INTRODUCED MAY 10, 2010
SENATE, No. STATE OF NEW JERSEY th LEGISLATURE INTRODUCED MAY, 0 Sponsored by: Senator STEPHEN M. SWEENEY District (Salem, Cumberland and Gloucester) Co-Sponsored by: Senator Ruiz SYNOPSIS Increases gross
Property Assessment and Taxation. An informational presentation brought to you by the City of Grand Ledge Assessing Department.
Property Assessment and Taxation An informational presentation brought to you by the City of Grand Ledge Assessing Department. How Does Proposal A Affect Me? Proposal A Before and After BEFORE 1994 AFTER
Property Tax Refund Timeline and Historical Data
Property Tax Refund Timeline and Historical Data 1975-2010 April 14, 2010 by Karen Baker Steve Hinze Nina Manzi Joel Michael House Research Department Minnesota House of Representatives Property Tax Refund