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Property tax cap stays at two percent

Jul 12, 2019 12:21 am
Nick Reisman reports at New York State of Politics that New York’s property tax levy increases will remain at the rate of inflation or two percent or less for the 2020 fiscal year, whichever is lower. Comptroller Tom DiNapoli’s office made the announcement July 11. “The allowable levy growth will be two percent for the second year in a row, however, mixed economic signals may require local governments to respond to changing financial conditions,” DiNapoli said in a statement. “Local officials should remain vigilant when crafting their budgets.” Read more about this story at New York State of Politics.