The state's new property tax cap succeeded in its first year in holding average property tax growth to 2 percent â€“ 40 percent less than the previous ten-year average, according to this report by Gov. Cuomo's office. Out of 3,077 local governments and school districts proposing a levy in the past year, the study found that 84 percent reported a levy within the capped amount.
Other highlights of the report include:
Â· 642 of 678 or 95 percent of school districts stayed within the cap.
Â· 1,944 of 2,399 or 81 percent of local governments that reported a proposed levy stayed within the cap.