October 19, 2015—The Tax Freeze/Government Efficiency Plan submitted by the Cohoes City School District has been approved by the New York State Division of the Budget and will be forwarded to the Department of Taxation and Finance. The approval ensures that Cohoes homeowners will receive a rebate check on their property taxes.
“We are very happy that our Cohoes residents will be getting a refund from their school tax bills,” Superintendent Jennifer Spring said. “This demonstrates the district’s commitment to maximizing its resources to effectively meet the goals of programs and services, while also being fiscally responsible.”
New York is in the second year of a three-year, $1.5 billion program to provide rebate checks to homeowners for their growth in property taxes if their local governments stay under the state's property-tax cap and develop efficiency plans.
The efficiency plans were due in June to the state Budget Division and were required to be approved by the budget director by July 31. The process was delayed as the state reviewed the plans and there is no word on when the rebate checks will be sent out.
Last year, the state sent checks to 2.8 million homeowners whose school districts stayed under the cap, which limits the growth in tax levies to less than 2 percent a year. This year, the checks will be a refund for the increase in property taxes levied by both schools and municipal governments.