WAMPSVILLE — Madison County’s Board of Supervisors will hold a public hearing regarding a possible property tax increase Sept. 12. at 2:30 p.m. in supervisors’ chambers, 133 N. Court St.
If approved, the property tax increase would exceed the state’s property tax cap.
This is allowed under law if 60 percent of a county’s legislative body agrees to the change. This is made by establishing a local law.
New York’s General Municipal Law 3-C caps property tax increases either at two percent of the previous years’ tax rate, or at the rate of inflation - the rate at which the general level of prices for goods and services is rising - for that year.
“Having this hearing allows us to prepare in case we have to impose a property tax above 2 percent,” Madison County Administrator Mark Scimone said. “If we find we have to adjust our budget above 2 percent without establishing the local law we will have problems increasing the tax numbers. This is just a precaution.”
Scimone said he anticipates a tax increase a bit above 3 percent. The budget numbers and other county expenses won’t be available until later this fall.
“The different departments have until Labor Day to submit their operating budgets, but these will be followed by various budget hearings. We will try and keep the increase under two percent, but it’s possible it will be a bit above three percent,” he said.