According to guidelines issued by the state Comptroller, counties, towns and most cities across the state will face a 1.66% on increasing tax levies for the 2014 fiscal year.
The state’s real property-tax cap law, enacted in 2011, limits increases to 2%. But the actual levy cap adjusts annually with the consumer price index. But because the rate of inflation is below 2%, the tax cap is lower. Local governments can override the cap with a 60% supermajority vote.
We recognize that the real property tax cap is a hardship on local government officials. That’s why we supported (and continue to support) mandate relief as members of the Let NY Work coalition. Albany needs to provide real mandate relief, so that our local governments are able to deliver the essential services we need.