The Babylon Village Board will hold a public hearing on March 13 on Local Law #1 which would allow the village to exceed the state’s mandated 2 percent tax cap levy with its budget.
Village officials are not indicating it will be necessary as budget creation is just getting started.
The hearing, which begins at 7 p.m. at village hall, is an opportunity for taxpayers to provide feedback. There is no public vote on the resolution. A village, as well as county, town or special district, is allowed to exceed the levy cap if at least 60 percent of the members of its governing body vote in favor of an override provision.
The override vote must be held prior to a budget vote, according to the Empire Center for New York State Policy. For villages, that requires a village board vote. For school districts, it would be a tax payer vote.
As Patch reported on January 11, the village is not alone in choosing the override option. Several hundred villages in the state have already passed such an exemption law.
New York State Governor Andrew Cuomo approved the tax levy cap measure last year. It places a 2 percent or rate of inflation cap, whichever is lower, on a levy increase.
Lindenhurst Village also opted for the override provision but its recently adopted budget came in under the cap.
The New York State Government Finance Officers Association has produced a pdf presentation explaining the tax levy mandate and how it is calculated.