Albany News and Updates Affecting Our School District

This page will be updated periodically with information and/or links to information from Albany. (Last update: Nov. 25, 2008)

• Open Letter to School Board Presidents and District Superintendents

 
• A report released by State Comptroller DiNapoli found that increases in foreclosures and mortgage delinquencies continue to grip certain regions of the State. As a result, property taxes, the primary source of tax revenue for local governments, could become the next casualty of the housing crisis. The report notes that mortgage recording and sales taxes are already decreasing. The report also notes that property tax revenues could fall by up to $1.3 billion if statewide property values decline to the same extent as during the early 1990s recession, potentially forcing local governments to sharply raise tax rates simply to raise the same amount of revenue.
  
  Please click on the link below to access the report (Adobe Acrobat Reader required):
  http://www.osc.state.ny.us/localgov/pubs/research/subprime08.pdf