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Understanding the tax "cap"  

Year 2 of NY's tax "cap" law: Still not 2 percent

In June 2011, New York state leaders responded to calls for property tax relief by enacting a law that placed new restrictions on how school districts (and municipalities) may increase their tax levies.

Often referred to as a “2 percent tax cap,” the law does not, in fact, limit any proposed tax levy increase to 2 percent. It does, however, require that school districts receive at least 60 percent voter approval on school budgets if the proposed levy increase exceeds a certain amount. That amount, known as the “tax levy limit,” is calculated by each district according to a complex 8-step formula outlined in the law, and often varies by district.

Learn more about how the tax "cap" law works by watching the video below.

 

Want to learn more?

Here are additional resources on New York's tax cap law:

    Navigating Year 2 of New York's Property Tax Levy Cap (PDF)

   Tax Levy Limit Calculation Fact Sheet (PDF)

   3 Tax Levy Numbers Fact Sheet (PDF)

   Budget Vote Rules Fact Sheet (PDF).

 

Advocacy information and other budget resources

 2013-14 budget page 

 Learn more about how to be an advocate for Watervliet schools and our students.

 Learn more about the Gap Elimination Adjustment