Tax Cap Limitation for 2018 for Towns, Cities, Muncipalities –1.84%–Announced by Comptroller. Inflation Up. Tax Cap Rises Setting Stage for Higher School Property Taxes

WPCNR SCHOOL DAYS. From the Office of the New York State Comptroller Thomas DiNapoli. July 17, 2017:

The state’s property tax levy growth for local governments with fiscal years ending Dec. 31 will be capped at 1.84 percent for 2018, according to New York State Comptroller Thomas DiNapoli’s office.

The state’s property tax levy growth for local governments with fiscal years ending Dec. 31 will be capped at 1.84 percent for 2018, according to New York State Comptroller Thomas DiNapoli’s office.

The figure affects the tax cap calculations for all counties, towns, fire districts, 44 cities and 10 villages across the state.

“After two years of tax growth being limited to less than one percent, inflation has crept up resulting in the highest allowable levy growth since 2013,” DiNapoli said. “This increase is offset by rising fixed costs and limited budget options. I continue to urge local officials to exercise caution when crafting their spending plans.”

By comparison, property tax levy growth for school districts was capped at 1.26 percent for the 2017-18 fiscal year.

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