When federal stimulus money runs out after 2010, New York school districts could face a $2 billion funding gap, Comptroller Thomas DiNapoli said last week.

When funding provided under the American Recovery and Reinvestment Act runs out, property taxpayers could be on the hook for an average 7.7% property tax increase in the 2011-12 school year to make up the difference, according to a report released by the comptroller.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.