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Surplus Funds Could Shield Counties
From Seeking Property Tax Increases
Posted September 12, 2008
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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