» Budget Scorecard
Surplus Funds Could Shield Counties
From Seeking Property Tax Increases
A build-up of surplus funds in the coffers of many Hudson Valley counties could prevent elected officials from resorting to an increase in property taxes to offset expected budget shortfalls from declining sales taxes, reduced state aid and higher energy costs.
As the region’s economy slows, a windfall of surprisingly high tax receipts over the past several years should give county leaders plenty of flexibility to avoid sticking property owners with higher tax bills—if officials and citizens focus attention on drawing down the large, available cash reserves. Read more
County Budgets: Dual Perils Ahead
As the slowing U.S. economy curtails municipal tax revenues across the country, many Hudson Valley counties, including Columbia, Dutchess and Rensselaer, are also facing sharp increases in capital spending on roads and buildings.
The dual perils of declining sales taxes, which comprise 30-50% of a county’s tax revenues, and a large backlog of urgent capital projects will likely put a growing burden on property taxpayers, especially in more heavily indebted counties that cannot borrow much money to fill the fiscal gap. Read more
County Budgets: Dual Perils Ahead
As the slowing U.S. economy curtails municipal tax revenues across the country, many Hudson Valley counties, including Columbia, Dutchess and Rensselaer, are also facing sharp increases in capital spending on roads and buildings.
The dual perils of declining sales taxes, which comprise 30-50% of a county’s tax revenues, and a large backlog of urgent capital projects will likely put a growing burden on property taxpayers, especially in more heavily indebted counties that cannot borrow much money to fill the fiscal gap. Read more
Cutting Through the ClutterOf Campaigns’ Fiscal Rhetoric
Candidates sparring for local office in next week’s elections face a bewildering array of statistics they can use to tout their own financial achievements or criticize their opponents’ fiscal failures. Though the numbers are often confusing and occasionally misleading, there are legitimate methods of budget analysis that can be helpful in judging the financial performance of incumbent office holders. Read more
Budget Scorecard: An Election Primer
With local elections fast approaching, the time seems apt to highlight findings from our municipal budget research that may prompt voters to ask tough questions of incumbent office holders and may help candidates provide convincing answers.
We’ve compared data for 28 towns and ten villages in Columbia and northern Dutchess counties with the aim of identifying the best and worst municipalities in terms of their recent financial management, a crucial test for any elected official. The data, from the Office of the State Comptroller (OSC), provide preliminary answers to three basic fiscal questions: 1) How high are taxes in the town or village relative to its peer group; 2) How much have the municipality’s property taxes increased over the past three years; and 3) Are large future tax increases likely due to the town government’s failure to invest sufficiently in upgrading its highway department and road network, which typically account for two-thirds of town spending. Read more
A Tale of Two Towns
Two country neighbors, the towns of Gallatin and Taghkanic in southern Columbia County, have a lot in common: rolling vistas of wooded, sparsely populated hills, abundant farms, and little commercial activity or road traffic to disturb the tranquil surroundings. But beneath their rustic setting, in the realm of budget discipline and financial health, the two adjacent towns are worlds apart. Read more