- Associated Press - Wednesday, July 1, 2015

ALBANY, N.Y. (AP) - New York’s comptroller reports that counties overriding New York’s property tax cap have declined steadily over four years from 15 to six.

First applied to local governments in 2012, the cap generally limits tax levy increases to 2 percent or the rate of inflation, whichever is lower.

The report shows total collections in the 57 counties outside New York City increased from $5.13 billion in 2012 to $5.4 billion in 2015.

That’s an overall increase of 5.3 percent.

Comptroller Thomas DiNapoli says if inflation keeps declining they’ll have to tighten their budgets more.

Municipal boards can vote to override the caps. School districts need voter approval.

New York City is excluded.






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