David Wilkes make a cogent analysis on how Westchester County maintains its Triple A bond rating. First, there’s a good balance of property taxes and sales taxes. Then you have Westchester municipalities guaranteeing Westchester’s county tax bill, which ensures that the taxes are paid by the cities and towns, which must collect them.
1 Comment
The rating is made solely based on the taxing power of all the municipalities involved. If each of them were a business that had to depend on quality, good management, and fiscal intelligence, they’d all have been bankrupt decades ago. Same goes for the schools.