DiNapoli: Tax Cap Will Drop Below One Percent in 2016
Property tax growth for local governments will be capped at less than one percent for the 2016 fiscal year, according to a report issued today by State Comptroller Thomas P. DiNapoli. The report noted the allowable tax levy growth factor will be 0.73 percent for entities that operate on a calendar-based fiscal year – which includes all counties, towns, fire districts, 44 cities and 10 villages.