Tax Cap Information

The property tax cap legislation became effective beginning with the 2012-13 school year and continues to impact school district budgets, including the proposed budget for the 2016-17 school year.

This legislation seeks to establish a threshold that determines the number of votes required for a budget to pass taking into account a variety of factors, one being the growth factor. The tax cap does not limit the increase in the tax levy at 2%. Only in very rare cases will a district's tax levy limit actually calculate out to 2%.

The links to the references below are designed to provide the residents of Valley Stream 30 with the components of the tax cap calculation, the 2016-17 tax levy limit calculation for the district required to be submitted to the Office of the State Comptroller, and other explanatory guidance. This information may change as additional guidance is provided by New York State. In addition to the information below, residents can also access information about this matter at the following websites.

http://www.osc.state.ny.us/localgov/realprop/index.htm

http://www.p12.nysed.gov/mgtserv/propertytax/taxcap/

http://www.osc.state.ny.us/localgov/realprop/schools/021816advisory.htm

1. 2016-17 Tax Levy Cap Calculation Submitted to NYS Office of State Comptroller

2. Property Tax Cap Legislation Summary

3. Tax Cap Brochure 'Understanding New York's Property Tax Levy Cap as it relates to public schools'

4. The Three Tax Levy Numbers Under New York State's Tax Levy "Cap"

5. New York's Tax Levy Formula: How Does It Add Up?

6. OSC Formula for Determining Tax Levy Limit

7. Tax Base Growth Factors

8. Allowable Growth Factors