Last week, the state Association of School Business Officials released a report card outlining school spending and tax trends which shows that the allowable levy limit statewide was just 0.9 percent — the lowest level since the inception of the tax cap in 2012. The report also shows that overall spending is up 2.2 percent; the difference is being made up by an increase in state aid.
This ‘report card’ is a further demonstration of the importance of the tax cap in terms of limiting the growth of real property taxes throughout the state. When we compared what property taxpayers would have paid had school tax levies been permitted to grow at their historic average of about 6 percent per year, property taxpayers would have paid an almost $10 billion more since 2012.
And that is why we will continue to oppose efforts to loosen or otherwise weaken the property tax cap in Albany.