Documents › Board Of Trustees, 2026-02-04

resolution

Also attached to this agenda item: Local Law Intro 1 of 2026 - Tax Cap Resolution 5-2026 Tax Cap Override

On motion of TRUSTEE -, seconded by TRUSTEE -, the following resolution was adopted by the Board of Trustees of the Village of Croton-on-Hudson, New York with the following vote: -. Resolution #11-2026 WHEREAS, the State Legislature and the Governor enacted legislation that establishes a “property tax cap” on the amount that a local government’s property tax levy can increase each year; and WHEREAS, under this law, the total amount to be raised through property taxes charged on the municipality’s taxable assessed value of property, will be capped at 2% or the rate of inflation, whichever is less, with some exceptions; and WHEREAS, the state legislation provides for local governments to override the cap to protect the Village from unforeseen financial circumstances; and WHEREAS, state legislation requires that in the event that an override is necessary, the law enabling it must already have been adopted by the Board of Trustees; and WHEREAS, Local Law Introductory No. 1 of 2026 has been drafted to override the “property tax cap” law enacted by State Legislature if necessary; and WHEREAS, no decision has been made at this point to override the “property tax cap” for the upcoming fiscal year; and WHEREAS, a Public Hearing was opened and closed on February 4, 2026, NOW THEREFORE BE IT RESOLVED: that the Village Board of Trustees hereby adopts Local Law Introductory No. 1 of 2026 to override the “property tax cap” law enacted by the State Legislature, if necessary, which upon adoption will become Local Law No. 2 of 2026. Dated: February 4, 2026