The Downsides of Property Tax Caps
July 26, 2018. The Center on Budget and Policy Priorities (CBPP) released a report last week about how property tax caps are hampering the abilities of municipalities to fund basic services and are exacerbating inequality. The study focused on the impact of caps in Michigan, Massachusetts, Oregon and New York. In New York, more than three-quarters of cities and half of the counties reported significant fiscal stress due to the the adoption of its tax cap in 2011 and subsequent cuts in state aid. During a [...]