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Credit Rating Agency Gives Rockland County Negative Outlook

NEW CITY, NY (WCBS 880) – According to credit rating agency Moody’s, school districts and municipalities in New York are already strained.

WCBS 880’s Sean Adams On The Story

The new 2 percent tax cap will squeeze them even more.

Now, Moody’s has given Rockland County a negative outlook.

Acting finance commissioner Stephen DeGroat is faced with a $50 million deficit, anemic sales tax revenue, and the irony that the state is limiting tax increases while still mandating certain services.

“The state’s been cutting aid. The state’s been having difficulties, I guess, balancing their budgets also, and you know, some of the ways they’re doing that is they’re passing on additional costs to the level of local government,” DeGroat tells WCBS 880 reporter Sean Adams.

According to Moody’s, school districts will have the toughest time because it will take 60 percent of voters to override the tax cap.

County Executive Scott Vanderhoef says he’ll have no choice but to make cuts from police, homeland security, and certain health programs in the next budget.

More from Sean Adams

One Comment

  1. Scott says:

    Cut’s in police ! If you did that long ago, as you should have done, the county wouldn’t be in the financial mess it is now. Rockland County does not need a police force anywhere near the size and scope it currently has and shouldn’t be paying salaries so incredibly high iether. Half the 50 M debt is probably do to the police force alone between salaries and the INCREDIBLE overtime that is paid. It is just absolutely mind-boggling.

  2. Confused says:

    The people who are going to get first and most are the lowest income elderly people. They will close senior centers and slash programs like Meals on Wheels. Where is all the sales tax revenue from the Palisades Mall going? It’s not staying in Rockland! I think Police and Teachers are great, but does a Policeman or a school Superintendant need to earn $350 thousand dollars per year?

  3. Gregory says:

    Why did Rockland spend itself into a $50 M debt? Ah! too much influence from NYC and too many magical thinking progressive politicians. Go ahead and cut your police protection and the thugs from NYC will drive right up the thru-way to feast on their criminal appitites. Don’t be jerks tell Albany to either pay for their mandates or you won’t provide them. What are they gonna do sue you? Your bankrupt.

    1. sheep says:

      the only thugs i worry about are the ones that wear blue suits with badges

Comments are closed.

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