Politico: The $1.8 billion that schools don’t get
“Education leaders and advocates are backing new legislation that they say could bring more than $1.8 billion in tax dollars back to school districts.
A coalition that includes several state advocacy groups and unions is calling for the passage of a bill that would prohibit Industrial Development Authorities from abating property taxes that would go to school districts across New York.
In a letter sent to Senate and Assembly leaders today, the group points to the diverted funds as another fiscal hardship school districts are expected to overcome.
According to an analysis of New York’s local tax data by the union-backed group Good Jobs First, school districts missed out on $1.8 billion in the 2021 fiscal year that went instead to lower companies’ tax bills.
The report equates that to an average $541 per student, but notes there is a disproportionate impact on communities with students of color.”
Read the full story at Politico.