September 13, 2012
DiNapoli: Tax Cap Reporting Made Easier
New Training Opportunities for Local Officials
State Comptroller Thomas P. DiNapoli today announced that the 2012-13 tax cap reporting form has been enhanced to make it easier for local officials to accurately calculate their tax levy limit.
After analyzing reporting errors from the first year of implementation, DiNapoli’s Division of Local Government and School Accountability developed an improved online property tax cap reporting system to address the most problematic areas encountered by local officials.
“My office continues to work with localities to assist them in meeting their filing obligations under the law,” said DiNapoli. “By reducing reporting errors, municipalities can assure they are not confined to stricter fiscal constraints than necessary and that their residents are not improperly taxed.”
New for the upcoming fiscal year, certain elements of the reporting form will be pre-populated, including the tax base growth factor, the allowable levy growth factor, and the 2012 PILOTs receivable reported by the local government last year.
The new online reporting forms will be utilized by local governments with fiscal years that coincide with the calendar year. Each eligible local government will have the ability to automatically calculate their exclusion for certain pension contribution costs within the form.
DiNapoli also announced expanded training opportunities for municipal leaders. These include:
Last year, New York established a cap on the amount a local government or school district could increase its property tax levy each year. Under the law, the growth in the property tax levy (the total amount to be raised through property taxes charged on the municipality’s taxable assessed value of property) will be capped at 2 percent or the rate of inflation, whichever is less, with some exceptions. Local communities have the ability to override the cap.
State law requires local governments to file their tax cap calculation for review by the State Comptroller’s office prior to the adoption of their annual budgets.