Listen Live

Falling Tax Cap Pushing More Schools to Exceed the Cap

Local News

The number of school districts planning budgets that override the state’s property-tax cap is growing, according to a report from the State Comptroller.

36 school districts statewide have already announced plans to present budgets that go over the ever shrinking tax cap. There are just over 600 school districts across New York.

The tax cap for schools restricts increases in property taxes to less than 1 percent. 76 districts are facing a negative tax levy. Those districts will need to cut taxes by $18.6 million or in order to stay within the allowable limit.

The tax cap is linked to the rate of inflation or 2 percent, whichever is lower at the time. Some local government officials and school districts this year, along with labor unions, are urging lawmakers and Gov. Andrew Cuomo to remove the rate of inflation component of the cap and limit levy increases to a true 2 percent.

In order to exceed the cap two-thirds of local voters must approve the school budget.

Related Articles

WXHC.com Is Powered By:
Powered By
Copyright 2019. Eves Broadcasting Inc.

Back to Top