Comptroller Says Local Governments Are Relying More on Property Taxes Amid Falling Aide
Thursday, January 17, 2013
New York State Comptroller Thomas DiNapoli says local governments are leaning harder on their taxpayers because of sluggish state and federal aid.
DiNapoli's report states that in the last decade, federal and state aid grew an average of 2.2 percent a year, which was less than the inflation rate of 2.4 percent during the same time.
The share of local municipal and county funding that comes from the state and federal government is down to 20 percent, from 22 percent in 2011.
DiNapoli says that at the same time revenue from sales taxes and increases in sales taxes rose nearly 6 percent and property taxes rose by over 4 percent over the last decade.
The Democrat warns that dependence on sales tax and property tax revenue is risky.
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