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April 17, 2013

 

DiNapoli: Local Governments Submit Property Tax Cap Reports

State Comptroller Thomas P. DiNapoli announced that 2,416 counties, cities, towns, school districts and fire districts have filed their 2013 property tax cap report. More than 18 percent of these entities indicated they plan to override the tax cap in 2013.


Type
Total Number of Entities
Total Submitted
Number Planning Override
Percentage Planning to Override
Counties
57
57
18
32%
Cities
48*
46
14
30%
Towns
930
864
251
29%
School Districts
675
671
36
5%
Fire Districts
873
778
119
15%


*There are 61 total cities in New York, excluding New York City. Of those, 48 were required to file prior to this release.


Last year, nearly 15 percent of these municipalities, school districts and fire districts indicated they would override the state’s property tax cap. This included 21 percent of counties; 20 percent of cities; 21 percent of towns; 15 percent of fire districts and 6 percent of school districts.

In 2011, the state passed a law establishing a tax levy limit, often referred to as the property tax cap, which affects all local governments, most school districts in New York State, except New York City, and a host of other independent taxing entities such as library, fire and water districts. Under this law, the growth in the property tax levy is capped at 2 percent or the rate of inflation, whichever is less, with some exceptions. Local communities have the ability to override the cap.

Tax cap reporting for individual local governments and school districts can be found on DiNapoli’s Open Book New York website: www.openbooknewyork.com.



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