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Village OKs law overriding tax levy cap
Laurel Hollow Village officials have passed a local law permitting them to override the state tax levy cap, though they said it’s too soon to know whether taxes will increase or by how much.
The village board of trustees on Thursday approved the law in a unanimous vote. It gives them the authority to exceed the 2 percent levy limit on property taxes, in case they need to do so.
Laurel Hollow’s fiscal year begins June 1, and Mayor Harry Anand said the village’s budget — which would include any potential tax hikes — will not be set for another couple of months.
Only one resident raised a question during a public hearing on the law, asking for the monetary equivalent of a 2 percent increase in property taxes. Two percent of Laurel Hollow’s property tax appropriations for the current fiscal year comes to nearly $50,000, the board offered as an estimation.
The seventh vote came from newly appointed trustee Nicholas Tsafos, who Anand announced Thursday is replacing John Fitteron, who is moving to Florida. Tsafos, a CPA, is “a right fit” for the board, Anand said.
Fitteron resigned from his post in November.
Tags: Laurel Hollow