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New York to lower property tax levy cap from 2%

New York to lower property tax levy cap from 2%

WHECTV
Created: January 15, 2020 07:39 AM

ROCHESTER, N.Y. (WHEC) — School districts in New York state will have to be more cautious with their budgets next year.

State Comptroller Thomas DiNapoli announced the property tax levy will be capped at 1.81% — down from 2% the last two years.

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DiNapoli said the decrease is based on a lower rate of inflation.

School districts can still override the tax cap with 60% voter approval. 

The cap will take effect in the new fiscal year, which starts on July 1, 2020.


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