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.
(Reporting by Hilary Russ; Editing by James Dalgleish) Keywords: MUNIS TAXES/S&P
(Hilary.Russ@thomsonreuters.com)(646)(223-7381)(Reuters Messaging: email@example.com)
Copyright Thomson Reuters 2013. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.