BINGHAMTON, NY (WSKG) — The Village of Penn Yan plans to exceed New York’s property tax cap in its 2019-2020 budget.
It’s holding a public hearing on the issue Monday night.
New York’s property tax cap requires schools and municipalities to limit tax increases to 2% or the rate of inflation, whichever is lower.
The tax levy is set to increase by 5.89 percent.
“It’s no surprise,” said Penn Yan Mayor Leigh MacKerchar. ” “[Village Clerk/Treasurer Gary Meeks] has done a great job keeping us under the cap for the last five years , but we’ve had to kick a few cans down the road.” He said rising payroll and other costs aren’t giving the village much choice.
MacKerchar said it’s tough to know if this will be a one-year move. Especially with threats from the state to cut aid to local governments. “Take those away and it’s going to have an impact greater than the level of the tax cap,” MacKerchar said.
The hearing Monday begins at 5:00 PM at the Penn Yan village hall. The budget is due at the end of April.