I can't believe McC in these comments on TV and print news. He thinks all this is a vote of confidence in him? Get real. He STILL has not divulged the reason.
I'll guess the next time the dems try to have a secret meeting, they'll do it at someone's house or drive outside the city, outside the county for that matter
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
Here's the reason. His only supporters public employee unions are worried. McCheese lied to them and the workers know it. They are facing massive layoffs because of DEM fiscal mismanagement. The entire corrupt DEM house is collapsing. Fingers are finally being pointed at the DEM bosses. Have the next super secret meeting in the bunker. And don't tell YNN about it- lol.
Schenectady council flexes muscle in veto override Party loyalties sidelined as Democrats override budget veto of mayor By Lauren Stanforth Published 8:55 p.m., Wednesday, November 14, 2012
SCHENECTADY — For the first time in some years, party loyalty in this city isn't everything.
The Democrat-controlled City Council went against the grain Tuesday by overriding Democratic Mayor Gary McCarthy's veto of the council's 2013 budget.
Schenectady County Democrats are known for negotiating behind closed doors, and then presenting a plan about which it looks as if everyone is in harmonious agreement. But the winds have changed in city politics, as the council is filled with younger Democrats who sometimes put their own opinions before party. There had been no mayoral veto since 2003, when Republican Mayor Al Jurczynski went against a mostly Democratic council.
"It's my goal never to make a vote solely based on what my party wants to do," said City Councilwoman Democrat Leesa Perazzo, a group sales manager at Proctors who was first elected to the City Council last year. "I think politics as usual had its time and place. But I think life is changing."
Three of the four Democrats who voted to override the veto have been on the council three years or less. And the council now has a non-Democrat in the mix, City Councilman Vince Riggi, who also voted to override McCarthy's veto. The City Council cut $900,000 out of McCarthy's $78.9 million budget to bring the tax rate increase down from 4.2 to 1.7 percent.
"There's a different mayor, different council, a lot of different opinions," said City Council President Denise Brucker, who has served on the council on and off since 1998 and voted yes on the override. "I think people really felt that we worked hard on that budget.
Democrat Carl Erikson, who runs the council's finance committee, pushed his colleagues to make deeper cuts in the budget, which included eliminating some raises for administrators and not filling positions. A contracts manager connected to General Electric, he was appointed by McCarthy in 2010 when one of the only budget critics in the last nine years, City Councilman Mark Blanchfield, a Democrat, left to become a city judge.
"It's funny that everyone says 'what's going on?'" said Erikson about this year's budget debate. "But it's what's supposed to happen."
It also didn't hurt that a rogue element is at work in City Hall. City budget analyst Jason Cuthbert, who was eventually fired for publicly lambasting McCarthy for his sales tax deal with Schenectady County, passed along his spreadsheets that showed some of McCarthy's budget lines were purposely overstated. Most of Cuthbert's suggestions made it in the City Council's final budget.
Meanwhile, McCarthy's behavior during the budget process has appeared perplexing. He vetoed the council's budget last Friday. But when he had the chance Oct. 30 to voice his concerns during the council meeting when they whittled down his budget, he sat silent.
Perazzo said if the mayor had communicated his opinions about the budget throughout, there might have been a more collaborative relationship.
"It's just the style of the current leadership," Perazzo said. "That was I think part of what made this process different."
And then after Tuesday's vote, McCarthy was almost cheerful about the override, saying that the council must have confidence he'll come up with enough revenue to balance next year's spending plan......................>>>>......................>>>>.....................Read more: http://www.timesunion.com/loca.....31.php#ixzz2CIKaZApW
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
McCarthy is a passive agressive POS. I'd eleiminate the city historian as well if I were him since he will go down as the dumbest mayor/council president in the citys history.
Life is tough, but it's tougher when you're stupid - John Wayne
TIP TO NEW VISITORS TO THIS FORUM - To improve your blogging pleasure it is recommended to ignore (Through editing your prefere) the posts of the following bloggers - DemocraticVoiceofReason, Scotsgod08 and Smoking Bananas. They continually go off topic, do not provide facts and make irrational remarks. If you do not believe me, this can be proven by their reputation scores or by a sampling of their posts.
Property tax is the tax liability imposed on homeowners for owning real estate. Just about every municipality enforces property taxes on residents, using the revenue to fund programs and services for the entire community. The municipal tax authority sets a percentage rate for imposing taxes, called a levy rate, which is then calculated against the assessed value of each homeowner’s property ad valorem (literally, “according to value”). The final determination is the individual property tax levy for that resident. Collectively, every resident’s tax levy determines the total revenue of the municipality’s property tax levy. Sponsored Link Public Court Records 1) Enter Any Name; 2) Hit Search; 3) Get Full Court Records! courtrecords.us.org/Official+ Function and Purpose Property taxes are one of the primary (if not the only) ways for municipalities to raise revenue for community services. Towns and cities use the proceeds from levying property taxes to fund the public school system, law enforcement and emergency service personnel wages; to install and maintain roadways and traffic equipment (such as streetlights and road signs); and to pay for trash pickup, snow removal and other services that benefit the community. Levy Rate Variables The levy rates for property taxes can vary significantly among municipalities to accommodate the unique needs of the individual county. Factors such as the number of residents living in the municipality, the size of the school district, the amount of revenue left over from the previous year and the municipality’s revenue from other sources all directly affect the total property tax levy for the area in any given year. In some municipalities, residential voters also directly influence the levy rate variable by voting on which services to offer to the community, increases and/or decreases in funding for specific services or purchases, or both. Calculating Property Tax Levies Most municipal tax authorities calculate the total property tax levy for the locale by projecting the needs of the county or city as a whole for that year, then calculating how large a budget is needed to cover the costs. This amount is then calculated against the total value of all residential properties combined to determine the percentage rate of the property tax levy. To determine the tax levy for each residence, the municipality then applies the percentage rate to assessed value of the home, which is estimated beforehand by an independent appraiser. Paying Property Tax Levies The ways property taxes are levied and collected vary among municipalities, but most locales follow one of two basic methods. The first is a yearly imposition, in which residents receive notification of the coming year’s tax levy in early spring. Residents then have between six and nine months to put aside the money to pay their tax levies, which the municipal tax authority collects once at the end of the year. The second is a quarterly imposition, where the tax authority divides each resident’s total yearly tax levy into four equal payments for the year. Residents then pay one-quarter of their full levy for the year every three months, reducing the financial hardship of paying the larger sum all at one time. Exemptions Property tax levies are imposed only on residents who live in the municipality and own real property, whether it is mortgaged or not. Renters who lease their primary residence are not levied by the municipality. However, the nonresident property owners are levied. In some locales, vacation or seasonal homes are exempt from property taxes, or charged a reduced levy, especially if the homeowner maintains primary residence within the same county or state. Many municipalities also offer additional exemptions to certain residents, such as retired or disabled veterans, disabled senior citizens and homeowners living below the poverty level. These exemptions vary significantly from county to county, however, as the municipality is responsible for making such a determination.
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
When you buy or sell property, the listing price is usually close to the property's fair market value. But if you were to look at the tax bill for that particular property, you would probably see a different value listed on it--called a tax assessed value--and that value could differ by thousands of dollars. Sponsored Link Free Sales Tax Calculator Calculate sales tax rates online State, City and County map location Avalara.com Fair Market Value Fair market value, or FMV, is the price a home should sell for under "normal" market conditions. "Normal" is a subjective term, but it generally means that the local housing market is not in distress due to a large number of foreclosures or a recent natural disaster like an earthquake or hurricane. FMV is usually determined by comparing the property to similar properties within a quarter-mile radius, and is based upon what price these similar homes sold for within the past year or two. Tax Assessed Value Your home's tax assessed value, or TAV, is usually a percentage of the property's FMV. Most states assess homes at 80 percent or 90 percent of FMV. California assesses homes at 100 percent of FMV, but because of Proposition 13, the state limits the tax amount to be paid through a different formula. Some counties around the country, especially in areas with depressed housing markets, only reassess homes every five or 10 years due to the high cost of the reassessment process. Exemptions Even after a base value has been determined for a property, the actual figure for the tax owed on the property could be lower due to certain exemptions. For instance, homestead properties are discounted; so are homes owned by combat-wounded veterans, widows or handicapped individuals. Exemptions differ from state to state and county to county, so be sure to check with your county's tax assessor's office. California's Proposition 13 Before 1978, California homes were reassessed every year. This is no longer the case, and a homeowner's property tax now increases according to a capped inflationary index that is automatically calculated. Homes are now only reassessed upon their sale, after certain types of improvements or by request of the homeowner. Some property sales are exempt from reassessment, including transfer of a property from spouse to spouse, or transfer between parent and child. When a homeowner wants to improve a property by, for instance, installing a fence or deck, or constructing an addition, the person must apply for a building permit. Notice of building permits are automatically sent to the tax office, and this triggers a reassessment of the property's value. A homeowner may request a reassessment if the fair market value of the home has declined or if a natural disaster inflicted more than $10,000 damage to the property. In the 1970s, California experienced a huge increase in property values. Properties were reassessed every year, and homeowners suddenly found themselves paying hundreds of dollars more in property taxes each subsequent year. But when California passed Proposition 13 in 1978, some limits and protections were put in place for homeowners: They would never have to pay more than 1 percent of the fair market value of their home, and the tax amount could not increase more than 2 percent in any subsequent year. This means that if your home appraised at $250,000, your annual property tax would be capped at $2,500. Furthermore, even if your home doubled in value over the next year, your tax would only increase to $2,550, instead of $5,000. Once the property sold, however, it would be reassessed as if new. Short Sales If you purchased your home below FMV due to a short sale, then the amount you paid is not considered FMV. Assessment will be determined based on what the price would have been under normal sales conditions.
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Beyond Ratings: The Value of Research in Municipal Credit Investing
By Doug Benton, Cavanal Hill Investment Management Tuesday, June 21, 2011 6:04 pm CDT CATEGORY: Story Ideas EmailPDFPrintRSSShareThis In the $3 trillion municipal bond market there are more than 26,000 individual municipal issuers of bonds. These are government agencies and public organizations who sell bonds as a way to fund major projects – like buildings, roads and bridges, and other forms of infrastructure.
The municipal bond market has certainly endured its share of challenges in the last few years. From the municipal bond insurers losing their AAA ratings, to the multi-year revenue pressures that exist on state and local governments the credit research component has become increasingly important to portfolio management. In light of these developments there has been an increase in negative press surrounding the municipal market.
In general, investors depend upon rating agencies to provide insightful credit analysis of many of these bond issues in order to determine if the issuer will be able to make its payments back to the bondholders. However, there are a number of reasons why this sole dependence on ratings is risky in today’s economy and why investors should consider utilizing supplementary credit research, which goes beyond the ratings.
Key Points:
1. Municipalities have a vested interest in obtaining the most favorable opinion.
A municipality issuing bonds (“sell side”) will be pre-disposed to present the most favorable portrayal of their creditworthiness to potential buyers (“buy side”). Over the years practices have developed whereby the sell side may solicit preliminary opinions from ratings agencies in advance of the publication of the Offering Statement provided to the buy side investors. Any less favorable opinions may not be published for buy side investor consideration in the offering statement. It’s important to be aware of this when evaluating a bond.
2. Rating recalibration means more bonds are getting high ratings.
In 2010 both Fitch Ratings Ltd. (Fitch) and Moody’s Investor Services, Inc. (Moody’s) recalibrated their rating to a global scale such that existing credit ratings were increased by as much as three notches. While Standard & Poor’s Financial Services LLC (Standard & Poor’s) did not undertake a similar approach they have had a significant number of upgrades in recent years that appear to coincide with the Fitch/Moody’s actions. Many investors and investment policies specify a rating level (“only A or better”, “investment grade minimum”, etc.). After the recalibration of the ratings, the number of municipal securities meeting these minimum standards has increased significantly while the investor appetite for credit risk may not have changed or even declined as a result of concern over municipal bond defaults.
3. Municipal bonds require regular evaluation and information isn’t always easy to get.
Ongoing evaluation of municipal bond holdings allows us to ascertain whether the municipality’s willingness and ability to repay the bond is consistent with our view when the bond was purchased. While “buy-and-hold” is common in the municipal bond market, we don’t believe that should equate to “buy-and-forget.” While we recognize that ongoing credit quality surveillance of municipal bond investments is important, it can be very difficult to gather the needed information if you don’t have the right resources. Some municipalities have slowed the information flow to the rating agencies to such a level that the respective rating agency withdrew the rating assigned. This makes the ongoing evaluation of investments very difficult.
4. Ratings can’t guard against default.
Ultimately, the value of proprietary municipal research is to potentially enhance investment performance and avoid payment defaults both in the bond buying decision making process, as well as in maintaining bonds currently held. Ratings alone can’t tell an investor as much as a detailed review of the issuer and the bond will tell. Research beyond the ratings allows us to go below the headlines and make a reasoned and informed decision regarding bond holdings.
Disclosures: Cavanal Hill Investment Management, Inc. is an SEC registered investment adviser and a wholly-owned subsidiary of BOKF, NA, a wholly-owned subsidiary of BOK Financial Corporation, a financial holding company ("BOKF"). SEC registration does not imply a certain level of skill or training. Distribution of this material is intended for informational purposes. This report is not intended to provide personal investment advice. Investors should understand that statements regarding future prospects may not be realized. Past performance does not guarantee future results. This information contains forward-looking statements that are based on management's beliefs, assumptions, current expectations, estimates, and projections, the securities and credit markets and the economy in general. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "plans," "projects," variations of such words and similar expressions are intended to identify such forward-looking statements. Management judgments relating to and discussion of the value and potential future value or performance of any security, group of securities, type of security or market segment involve judgments as to expected events and are inherently forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what is expressed, implied, or forecast in such forward-looking statements. The potential realization of these forward-looking statements is subject to a number of limitations and risks. Cavanal Hill does not undertake any obligation to update, amend, or clarify forward-looking statements, whether as a result of new information, future events or otherwise. The information provided in this presentation is not an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction. Investors should note that income from such securities or other investments, if any, may fluctuate and that price or value of such securities and investments may rise or fall. Investments are not insured by the FDIC and are not guaranteed by Cavanal Hill or any bank, including any banking affiliates of Cavanal Hill. Investments are subject to risks, including the possible loss of the principal amount invested.
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Property values are the primary revenue source for many cities, counties and school boards. In theory, your property taxes are based on the fair market value of your real estate. In practice, some property owners have found that the tax assessor's estimate is much higher than the price the house would bring if it were up for sale. Sponsored Link EHR Software Demo Watch the EHR Demo Online Now Top-rated EHR, Billing, Scheduling EHR-Software.AdvancedMD.com Function Tax assessors often use the sale prices of comparable properties--a home the same size as yours, in a similar neighborhood, for example--to determine the market value of your property, the Investopedia website states. Assessors may also base their valuation on how much it would cost to construct an identical new building, or, for investment property, how much income it generates a year. Procedure Once an assessor sets the market value, she may then multiply it by an assessment rate to get the taxable value, Investopedia states. If your house has been assessed at $350,000 and the county's assessment rate is 20 percent, your property taxes will be applied to $70,000 of taxable value. Time Frame Over time, the assessed value and the market value may drift quite far apart. New Hampshire, according to "USA Today," only reassesses property every five years. California assessed values, by state law, can only rise 2 percent a year unless the house is sold, at which point it will be reassessed. Even in states that assess property every year, a sudden drop in the market between the assessment and the time the tax bill is mailed can leave homeowners with a house worth much less than it was assessed for. Considerations State laws that allow qualified owners to exempt part of their property value from taxation create another gulf between market value and taxable value. In California, for example, many owners qualify to have the assessed value of their residence lowered by $7,000, the Board of Equalization states. Disabled veterans can apply for a $100,000 exemption. Prevention/Solution All states and counties have appeals systems for property owners who believe the assessed value of their land is far higher than the real value. Your local tax assessor's office will provide information about when to file an appeal, what procedures and forms to use, and what evidence will be accepted as proof that your assessment was too high.
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
I read with interest the Nov. 14 story on the Schenectady Council override of Mayor Gary McCarthy’s budget veto. The article said, in part, “The fi ve Democrats on the council met behind closed doors... They did not allow independent Councilman Vince Riggi to attend ...” How childish. And I thought we were supposed to show our kids by example that bullying is not appropriate. Some example here!
McCarthy is a passive aggressive POS. I'd eliminate the city historian as well if I were him since he will go down as the dumbest mayor/council president in the city's history. [/quote]
The DEM morons did that last year! The problem now is what to do before he faces the voters again. If they run McCheese again he will pull down the entire corrupt DEM machine. They have no one that could beat Vince Riggi. Everything these bullies do makes Vince more popular.
McCarthy is a passive aggressive POS. I'd eliminate the city historian as well if I were him since he will go down as the dumbest mayor/council president in the city's history.
The DEM morons did that last year! The problem now is what to do before he faces the voters again. If they run McCheese again he will pull down the entire corrupt DEM machine. They have no one that could beat Vince Riggi. Everything these bullies do makes Vince more popular.
[/quote]
Yep. Usually McC acts like a pampas a** to the general public...now he's taken his rage against Vince. Unfortunate for McCheese, voters get mad when you take their golden councilman out of the equation. Better start asking if they want fries with that Gary, your mayoral gig just might be up!!!
I predict our beloved Mayor will win in a landslide simply BECAUSE he is a moderate leader and NOT another Neo-Liberal buffoon....
McCarthy is no leader......But he is the capitan of this shinking ship. Good for him. He deserves it. "He takes a backseat to noone"
Laughing stock of the capital district. Funny thing is that he is the best you have. Not one person on this board says anything nice about him here other than you and your alter egos.
Life is tough, but it's tougher when you're stupid - John Wayne
TIP TO NEW VISITORS TO THIS FORUM - To improve your blogging pleasure it is recommended to ignore (Through editing your prefere) the posts of the following bloggers - DemocraticVoiceofReason, Scotsgod08 and Smoking Bananas. They continually go off topic, do not provide facts and make irrational remarks. If you do not believe me, this can be proven by their reputation scores or by a sampling of their posts.
Logged
Here's the reason. His only supporters public employee unions are worried. McCheese lied to them and the workers know it. They are facing massive layoffs because of DEM fiscal mismanagement. 
