NY Tax Cap Next Fiscal Year

Looking at property taxes, according to New York State Comptroller Thomas DiNapoli, tax levy growth for local governments will be capped for next year at .68 percent. That’s down slightly from this year’s .73 percent. The latest inflation figure affects the tax cap calculations for local governments that operate on a January to December fiscal year, which includes all counties, towns, fire districts, 44 cities and 10 villages. The 2017 fiscal year is the fourth year in a row that local governments have had their levy growth capped at less than 2 percent and the second year in a row that it has been capped at less than 1 percent.