SHOW ME THE MONEY...

Following our money is a lot simpler than most might think, yes it's a big budget, but a budget all the same. And it is a lot easier if we use all the tools available to us.

Real property taxes are the single largest source of revenue for local governments in New York State. In the standard budget process, property taxes are used to cover the difference between appropriations and estimated non-property tax revenues. The New York State Constitution places a legal limit on the authority of villages, as well as counties and cities, to impose property taxes.

There is no absolute standard or target for a tax levy as a percent of the constitutional limit; however, based on our experience, villages that have exhausted over 80 percent of their tax limit are in a caution zone, while those over 90 percent are in a danger zone. In instances where municipalities have exceeded their tax limits, our research shows that those municipalities had exhausted 90 percent or more of the limit in the previous year.

Percent Tax limit Exhausted : 2005 75.56% 2006 80.26% 2007 79.18%

Percent Tax limit Exhausted : 2008 76.40% 2009 72.81% 2010 71.55%

Percent Tax limit Exhausted: 2011 71.39 % 2012 78.40% 2013 76.51%

Percent Tax limit Exhausted: 2014 79.90% 2015 83.08% 2016 88.48%

Percent Tax limit Exhausted: 2017 89.55% 2018 95.97% 2019 95.31%

80% is caution zone 90% DANGER zone

For villages such as this that are nearing their tax limits, their ability to increase property taxes is severely limited, and their ability to maintain existing tax levels may be at risk, because even small variations in exclusions or real property valuation could cause the village to exceed its tax limit. Local governments must therefore be vigilant in managing their tax margin, particularly if they approach the caution zone (80 percent of their tax limit).

We must do a better job overviewing the servants and budgets, attending meetings is part of the job, but first we must demand that we receive proper information so that we can be well informed citizens and that starts with DEMANDING proper AGENDA DOCUMENTS, as required my OML, and one this Village Clerk/Village Board was advised.

Check out blog post: https://harley508.wixsite.com/forbettergovernment/post/accountantability