April 1, 2015 and March 31, 2016, an estate of $3,125,000 is exempt.

April 1, 2016 and March 31, 2017, an estate of $4,187,500 is exempt.

April 1, 2017 and Dec. 31, 2019, an estate of $5,250,000.

Raising the estate tax rates will help the families of the most advantaged members of the population.

However, there were also provisions made for education that should increase funding for schools. However, most of these funding increases were geared strictly at charter schools. New York City charter schools will now enjoy some of the greatest protections in the country; under the new state budget agreement, for the first time ever, charter schools will be eligible for government funds (MYFOXNY, 2014). A $1.1 billion, or 5.3%, increase in education aid, with high-needs districts getting almost 70% of the hike; allocations of $340 million for universal pre-K during each of the next two years, with $300 million for New York City and $40 million...

Therefore, the educational system in NY will be evolving quickly over the course of the upcoming years as these budget decisions are implemented.
Works Cited

AP. (2014, March 24). NY budget talks continue in Albany as deadline nears. Retrieved from AP: http://www.syracuse.com/news/index.ssf/2014/03/ny_budget_talks_continue_in_albany_as_deadline_nears_1.html

MYFOXNY. (2014, March 30). Huge win for NY charter schools. Retrieved from Fox NY: http://www.myfoxny.com/story/25108048/highlights-of-proposed-140b-ny-2014-15-budget

Weaver, T. (2014, March 29). 2014 NY State Budget. Retrieved from the Post-Standard: http://www.syracuse.com/news/index.ssf/2014/03/ny_budget_details_property_tax_freeze_30_million_for_onondaga_lake.html

Weaver, T. (2014, March 29). NY Budget: Estate tax change. Retrieved from the Post-Standard: http://www.syracuse.com/news/index.ssf/2014/03/ny_budget_estate_tax_change.html