Tag: Property Tax Cap

Forty-nine school districts* were seeking to override the state's new property tax cap in yesterday's school budget votes. Of those, our review of regional media coverage suggests 30 districts* passed an override, while 19 districts voted their budgets down. Seven of the proposed overrides failed to collect even 50 percent of the vote. Read More

The only proven route to long-term and lasting property-tax relief in New York is property-tax limitation - such as capping the annual growth in school-tax levies, Empire Center for Public Policy Director E.J. McMahon said in testimony today before state Assembly lawmakers. Read More

Governor Andrew Cuomo has signed into law an omnibus bill ( of the Laws of 2011) including a cap on local property taxes in all jurisdictions outside New York City.  The bill was passed on Friday, June 24, during the final hours of the legislati Read More

New York State has a new law capping annual increases in local government and school district property taxes. Effective in local fiscal years starting on or after Jan. 1, 2012, the law limits the annual growth of property taxes levied by local governments and school districts to 2 percent or the rate of inflation, whichever is less. Read More

In the second year of New York State’s property tax cap, proposed school district budgets will be subject to an average tax levy limit of 4.6 percent—more than double the statutory base cap of 2 percent and well above the 3 percent average limit for school budget proposals last year, according to data from the state comptroller’s office. Read More

The state Department of Taxation and Finance has issued "" of New York's new tax cap.  In addition, on a , the agency has posted its first-ever annual estimates of growth in assessed property value due to new construction for all New York counties a Read More

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The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.