Wednesday, October 17, 2012

Law Passed in Islip To Exceed Tax Cap

Property Tax Reduction Consultants 
125 Jericho Turnpike, Jericho, NY 11753
516-484-0654 or 631-484-0654

Earlier last week, the Islip Town Board paved the way for a massive property rate tax hike, voting unanimously to shatter the state-mandated tax cap amid fierce opposition from town residents.
After a long public hearing at Town Hall, the board passed the law. The 2% tax cap which is state-mandated requires local governments seeking to exceed it to pass a law authorizing the move. Last month a $118 million proposed budget was introduced that calls for 65% increase in town residential property taxes, which is 4% of residents total tax bill.
The proposed budget which calls for a 65% increase in property tax has stirred up much controversy in the community. Some residents are outraged by it, while others think it is necessary in order to maintain the town’s amenities.
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