The property tax levy cap legislation became effective beginning with the 2012-13 school year and continues to impact school district budgets, including the proposed budget for the 2022-23 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 levy 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 Herricks community with the components of the tax cap calculation, the 2022-23 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.