Miringanes t1_itzl80y wrote on October 27, 2022 at 1:48 PM

It’s not even the school budget that’s going to be the issue. It’s going to be the expiring PILOTs. Right now the municipality is getting the vast majority of payments from buildings that have a PILOT program. Once those expire, that payment (which may in some cases be more than the actual tax levy) will get distributed between the municipality, the county, and the district per the established percentages.

Basically what that means is there’s gonna be a municipality shortfall and in order to make that up there’s going to have to be cuts or tax increases.

mbstor23 OP t1_iu07z55 wrote on October 27, 2022 at 4:19 PM

Yes and no. Stevie just needs to cut the budget slightly. We’ll see if he does.

Miringanes t1_iu0bjei wrote on October 27, 2022 at 4:42 PM

You can’t cut a budget without having service cuts or at least it’s incredibly difficult to do that.

mbstor23 OP t1_iu0dxp2 wrote on October 27, 2022 at 4:57 PM

Duh. Service cuts! Who the fuck can afford to pay more in taxes??

bodhipooh t1_iu0fznf wrote on October 27, 2022 at 5:11 PM

This is SUCH AN IMPORTANT point. All those people railing against abatements and holding them up as the culprit and root cause of the ever increasing taxes don't seem to understand that the city is getting a SWEET deal with those abatements. As they start to expire, we will find ourselves in a fiscal hole and taxes will have to increase dramatically to make up the shortfall.

Mindless-Budget9019 t1_iu0jlkj wrote on October 27, 2022 at 5:34 PM

If the PILOTs expire then they would pay regular property tax split between City, county and BOE. Total Regular property tax amounts are normally higher than what would be paid under the PILOT program. If the municipal property tax levy increases because of the pilots expiring then the BOE and county budget should decrease.