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Tax cap to tighten for municipalities

As inflation dips, ‘2%’ limit becomes 1.66%

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A slowdown in inflation has tightened the state’s tax cap and will likely force municipalities in the upcoming budget season to cut more spending or attempt to override the cap. Billed as a 2 percent property tax cap when it was created in 2011, the cap on the growth in property taxes can be lowered if inflation drops below 2 percent. According to state Comptroller Thomas DiNapoli’s office, the rate of inflation has dropped below ...


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comments

artbarb
August 22, 2013
8:55 p.m.

[ Flag Post ]

Sales during the measurement timeframe:
# Street date sold price taxed value variance
1171 Lowell Rd 6/6/2012 $385,000 $342,800 12%
1007 Maryland Av 2/23/2012 $140,000 $193,900 -28%
1170 Oxford Plc 5/19/2012 $101,000 $133,400 -24%
1211 Oxford Plc 12/12/2011 $129,000 $134,200 -4%
1029 Parkwood Blvd 5/15/2012 $126,000 $129,100 -2%
1178 Parkwood Blvd 10/4/2011 $85,000 $140,100 -39%
1150 Phoenix Ave 12/9/2011 $122,000 $163,900 -26%
714 Plymouth Ave 8/14/2012 $63,000 $114,800 -45%
1550 Randolph Rd 9/30/2011 $146,000 $175,600 -17%
1711 Randolph Rd 8/11/1932 $145,000 $157,800 -8%
7 Rosa Rd 5/21/2012 $103,000 $158,100 -35%
204 Rosa Rd 8/18/2011 $82,000 $110,000 -25%
1132 Rugby 3/21/2011 $191,000 $256,800 -26%
1156 Stratford Ave 2/27/2012 $200,000 $272,700 -27%
932 Strong 11/29/2011 $15,000 $42,100 -64%
1310 Summer Ave 10/31/2012 $116,000 $169,800 -32%
64 Union Ave 4/19/2012 $120,000 $176,500 -32%
1000 Union 5/17/2012 $218,500 $163,300 34%
1232 Union St Sold on 6/8/2012 $49,900 Tax assessment $142,000 -65%

artbarb
August 22, 2013
8:57 p.m.

[ Flag Post ]

# Street date List price taxed value variance
1129 Ardsley Rd $119,800 $175,400 -32%
1021 Eastern Ave $79,900 $105,900 -25%
1024 Eastern Ave For Sale $69,000 Tax assessment $120,000 -43%
1972 Eastern Ave For Sale $125,000 Tax assessment $140,600 -11%
1 Elmer Ave $113,875 $120,000 -5%
139 Elmer Ave Schdy tax sale $34,000 $81,600 -58%
149 Elmer Ave For Sale $79,250 Tax assessment $102,000 -22%
1141 Garner Ave $57,000 $107,800 -47%
1210 Glenwood Blvd $89,900 $194,300 -54%
1029 Glenwood Blvd For Sale $114,400 Tax assessment $136,700 -16%
1210 Glenwood Blvd $89,900 $194,300 -54%
1260 Glenwood Blvd $129,900 $125,500 4%
1371 Glenwood Blvd For Sale $99,900 Tax assessment $137,000 -27%
1517 Grand Blvd $189,500 $249,300 -24%
8 Jackson Plc City Tax Sale $29,000 $86,100 -66%
1064 Lexington Ave foreclosure $99,900 $137,100 -27%
1102 Lexington Ave $119,900 $151,600 -21%
1186 Lowell Rd $177,500 $352,600 -50%
1169 McClellan St. $119,000 $123,000 -3%
1178 McClellan St. $124,900 $147,900 -16%
6 Morris Ave foreclosure $125,900 $227,500 -45%
242 N Brandywine Ave $50,000 $111,400 -55%
437 N Brandywine Ave $85,000 $96,700 -12%
1470 Nott St For Sale $95,900 Tax assessment $131,700 -27%
1470 Nott St. $95,900 $131,700 -27%
1243 Parkwood Blvd $44,900 $83,900 -46%
1731 Rugby Rd $109,900 $133,100 -17%
1431 Rugby Rd $69,000 $121,200 -43%
1149 Summer Ave For Sale $115,000 Tax assessment $166,300 -31%
1168 Van Curler Ave $99,000 … $135,500 -27%
1062 Waverly Plc For Sale $139,900 . $180,300 -22%
1118 Waverly Plc For Sale $82,500 0 $135,400 -39%

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