Local

DiNapoli: Tax Cap Set at 2% in 2023

Property tax levy growth will again be capped at 2% for 2023 for local governments that operate on a calendar-based fiscal year, according to data released today by State Comptroller Thomas P. DiNapoli. This figure affects tax cap calculations for all counties, towns, and fire districts, as well as 44 cities and 13 villages.

DiNapoli: Syosset Man Sentenced for Role in $12 Million Ponzi Scheme

New York State Comptroller Thomas P. DiNapoli and Nassau County District Attorney Anne T. Donnelly announced a Syosset man was sentenced today to up to ten-and-a-half years in prison for his role in a $12 million Ponzi scheme that targeted nearly 50 victims—many of them seniors—between 2015 and 2017.

Matthew Eckstein, 52, pleaded guilty on Feb. 8, 2022, before Judge Teresa Corrigan to charges of Grand Larceny in the First Degree (a B felony) and Conspiracy in the Fourth Degree (an E felony). The defendant was sentenced today to 3-1/2 to 10-1/2 years in prison.

DiNapoli Releases Annual IDA Report

New York's local Industrial Development Agencies (IDAs) reported 4,262 active projects with a total value of $114 billion in 2020, an increase of $5.3 billion from the prior year, according to an annual report on IDAs released by State Comptroller Thomas P. DiNapoli. While reported project values have risen, the number of projects has decreased by 58, or 1.3%, since 2019.