New York’s Property Tax Cap

|

Tax CapIn 2011, New York enacted a 2 percent cap on annual local property tax levies. A recent analysis by the Empire Center revealed that school property taxes have grown at an average annual rate of 2.2 percent per year in the four years since the cap was created, down from 6 percent per year in the thirty years prior. The authors also found that, when new construction was removed, school tax levies grew slower than inflation in every region of the state outside New York City, which was not affected by the cap.

Here are some recent publications from the Empire Center related to the tax cap and efforts by tax cap advocates to make it permanent: