Property tax levy growth for local governments with fiscal years that close on Dec. 31 will be capped at 2 percent for the 2020 fiscal year, according to State Comptroller Thomas P. DiNapoli. This figure affects the tax cap calculations for all counties, towns, fire districts, 44 cities and 10 villages.
"The allowable levy growth will be 2 percent for the second year in a row, however, mixed economic signals may require local governments to respond to changing financial conditions,” DiNapoli said. “Local officials should remain vigilant when crafting their budgets.”