Property tax levy growth for New York’s school districts and 10 cities will remain capped at 2% for a fifth consecutive year, according to figures released this week by State Comptroller Thomas DiNapoli.
Under state law, annual increases in property tax levies for most local governments and school districts are limited to the lesser of the rate of inflation or 2%, unless officials vote to override the cap. The comptroller’s office calculated the inflation factor at 2.63% for governments with a fiscal year ending June 30, 2027, meaning the 2% cap will apply.
The cap affects 675 school districts and 10 cities with fiscal years beginning July 1, 2026. Those cities include Buffalo, Rochester, Syracuse and Yonkers, as well as Amsterdam, Auburn, Corning, Long Beach, Watertown, and White Plains.
DiNapoli said local officials will need to continue managing budgets carefully as costs rise and potential federal actions could impact local finances.
The state’s property tax cap was first enacted in 2012 and applies to most local governments and school districts outside New York City.
List of allowable tax levy growth factors for all local governments
Real Property Tax Cap and Tax Cap Compliance web page
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