January 7, 2013 / 6:22 PM / in 5 years

Property tax caps have mixed impact on local governments-S&P

Jan 7 (Reuters) - Property tax caps in eastern U.S. states have constrained some local governments’ budgets but had little impact on others, Standard & Poor’s Ratings Services said in a report on Monday.

In some states, the caps, adopted in the past five years, have limited the budgetary flexibility of local governments and school districts, S&P said.

In other states, “the limitations have posed minimal fiscal constraints based on either the magnitude of the cap, the ability to override, or the allowable exceptions,” S&P credit analyst Lindsay Wilhelm said in a statement.

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