Tax Cap Update

Tax-Cap Tax Cap Update: The 2017 inflation factor for those libraries with a January 1 – December 31 fiscal year has been announced by the Office of the State Comptroller. It is 0.68%. This is the second year in a row it is below 1%. This applies to all libraries that have ever had a public vote on their budget. Even if you aren’t planning to hold a vote this year. The online “tax cap form” must be filed with the NYS Office of the State Comptroller between when the form becomes available and prior to adoption of your budget for libraries with a calendar fiscal year (Jan-Dec) and by March 1 for libraries with a school fiscal year (June-July). A primer on the Tax Cap for libraries is available from MHLS at