Property Tax Cap
Effective in 2012, New York's local governments are subject to a 2% levy limitation, or the rate of inflation (whichever is lower). All local governments, with the exception of NYC, must meet this levy threshold.
While the cap has slowed the growth of property tax levies, municipal officials have identified significant unintended consequences that have developed during the local implementation of the cap. Counties have reduced staff, sold assets and curtailed programs or services as ways to comply with the tax cap.
Based on these difficult local decisions, most counties have been able to stay under the cap during the past four years.
• 2012 (87 percent)
• 2013 (82 percent)
• 2014 (80 percent)
• 2015 (89 percent)
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