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Sorry if I am changing the subject.... I guess back to on-topic .
Anyway, does someone know if the 2% cap will mean a 2% real increase in property taxes or are the pensions and healthcare costs still going to push our taxes into the stratosphere.
Pensions should not be funded by school systems. The original intent of pensions was to provide something for the employee upon retirement when annual compensation was not sufficient to put monies away. Today, we have the opposite, compensation is now more than sufficient to permit savings for retirement coupled with pensions. The system is out of whack and needs to be reined in.
Vote NO to school budgets. Vote YES and seal your own demise while the fatcat unions eat your breakfast, lunch and dinner while on vacation in the Bahamas.
Don't most contingency budgets in the event of a NO have little to no impact on the tax dollars anyway? The bulk of the outlay is not coming from "discretionary" services and can't be touched regardless - i.e. pensions.
I really like some of your ideas moving forward, but I haven't seen what your ideas are for the existing elephant in the room. Like I said earlier in this thread I don't believe there's a way out without haircuts - those don't sit well with the cronies and that's where you'd find your largest top down resistance to any pension reform.
I know I'm not throwing out anything that can be answered easily since you're essentially battling a microcosm of our national entitlement system.
Sorry if I am changing the subject.... I guess back to on-topic .
Anyway, does someone know if the 2% cap will mean a 2% real increase in property taxes or are the pensions and healthcare costs still going to push our taxes into the stratosphere.
No, yes, no... j/k.
Seriously though, finally someone with a little foresight that is thinking .
I was all for this tax cap a few months ago, but it's too good to be true. I posted here> read this < about 3 pages ago, but then a cat-fight broke out... so what I believe is this tax cap is going to have damaging effects and it's not going to cap taxes at all. Maybe "real property" taxes will be capped at 2%, which would be great. But the bills coming due are so large and the tax system is heavily tilted against the middle class that it will not work.
A cap is going to destroy schools and counties/towns/municipalities will just find ways around it (ie- higher gas taxes, MORE red light cameras, more surcharges, higher sales tax, etc).
It's smoke n mirrors. We need real tax reform for the middle class on LI combined with major union concessions/reduction in spending. I'm conservative, but you'd be an idiot not to realize that the property tax system on LI is favorable to $750k+ homes and very high earners. Unless you like the mcmansions taking over your town, it makes no sense to live here anymore unless you're really living large ($750k - $20M homes).
Seriously though, finally someone with a little foresight that is thinking .
I was all for this tax cap a few months ago, but it's too good to be true. I posted here> read this < about 3 pages ago, but then a cat-fight broke out... so what I believe is this tax cap is going to have damaging effects and it's not going to cap taxes at all. Maybe "real property" taxes will be capped at 2%, which would be great. But the bills coming due are so large and the tax system is heavily tilted against the middle class that it will not work.
A cap is going to destroy schools and counties/towns/municipalities will just find ways around it (ie- higher gas taxes, MORE red light cameras, more surcharges, higher sales tax, etc).
It's smoke n mirrors. We need real tax reform for the middle class on LI combined with major union concessions/reduction in spending. I'm conservative, but you'd be an idiot not to realize that the property tax system on LI is favorable to $750k+ homes and very high earners. Unless you like the mcmansions taking over your town, it makes no sense to live here anymore unless you're really living large ($750k - $20M homes).
maybe I'll delete this post and paste it over in that thread?
You definitely have some good points here. I guess we need to study CA's tax cap. Seems in some places what you suspect happened ... the union costs just kept ballooning and eventually no money was left in the budget for actually doing anything for the community ... which led to bankruptcy in some cases (Vallejo).
You definitely have some good points here. I guess we need to study CA's tax cap. Seems in some places what you suspect happened ... the union costs just kept ballooning and eventually no money was left in the budget for actually doing anything for the community ... which led to bankruptcy in some cases (Vallejo).
I just researched Vallejo a little bit. It seems that city ended up paying retirees and other creditors only 5-20% of what they were owed - through use of federal bankruptcy laws.
Now, what I'm not sure of is if the city of Vallejo still had to fully pay any pension obligations towards the state of CA? How does that work? Like, if Nassau got wiped out somehow (tidal wave, nuke bomb, etc), would we still have to pay 100% of pension obligations to NYS?
That's a good idea on researching CA's tax cap, and like you mentioned, the results were not good.
I just researched Vallejo a little bit. It seems that city ended up paying retirees and other creditors only 5-20% of what they were owed - through use of federal bankruptcy laws. Now, what I'm not sure of is if the city of Vallejo still had to fully pay any pension obligations towards the state of CA? How does that work? Like, if Nassau got wiped out somehow (tidal wave, nuke bomb, etc), would we still have to pay 100% of pension obligations to NYS?
That's a good idea on researching CA's tax cap, and like you mentioned, the results were not good.
No. The bankruptcy took care of that.
But the thing is the legal fees were killer!!! (As usual, the attorneys win more than the clients!)
Tax cap without corresponding union reform will not work.
I was just about to say, haircut would be putting it mildly. A crew-cut with a straight razor is the likely outcome. Meanwhile, the union hacks can continue to sing Kumbaya and gather round the fire roasting marshmellows while collecting union dues.
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