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Nytimes special election3/11/2024 ![]() ![]() ![]() However, Section 104.00(d) of the Local Finance Law established a debt limit of 10% of property valuations for other independent school districts. ![]() While the New York Constitution applied a debt limit of 5% in property valuations for small city school districts, the Constitution did not define debt limits for other independent school districts. Prior to Proposal 1 passing, there were different constitutional debt limits for small city school districts and other independent school districts. What were the debt limitations for New York school districts prior to Proposal 1 passing? See also: Debt limits for New York school districts The measure also removed language from the Constitution excluding debt contracted for educational purposes for small cities. This debt limit previously amounted to 5% of the average full value of the last five years' property tax rolls within the district. This measure eliminated the constitutional debt limit for small city school districts (defined in the New York Constitution as any school district partly or fully within a city with less than 125,000 inhabitants). Overview How did this amendment change debt limits for small city school districts? See also: Text of measure 9.3 Amendment in the state Legislature (2023).9.2 Amendment in the state Legislature (2022).8.4 Constitutional amendments on New York ballots.8.3 Previous New York ballot measures regarding debt limitations.8.1 Debt limits for New York school districts.2.3 How did this amendment get on the ballot?.2.2 What were the debt limitations for New York school districts prior to Proposal 1 passing?.2.1 How did this amendment change debt limits for small city school districts?. ![]()
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