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State aid formula brews new storm
By Rick Karlin
Albany
Upstate communities saw more than their homes, roads and bridges wash away with Tropical Storm Irene two years ago.
They also lost millions of dollars in property tax revenue as the value of storm-damaged homes and businesses declined — and in some cases disappeared.
The problem was front and center at Thursday's meeting of the state Board of Real Property Tax Services, where officials from the towns of Schoharie and Esperance argued their communities' homes and businesses are worth less than the state believes.
The plunge in value, they said, should change the formula that determines the amount of state aid they receive for services,
http://www.timesunion.com/local/article/State-aid-formula-brews-new-storm-4737022.php