2% Tax Cap for 2020 Fiscal Year

baseball capProperty tax levy growth for libraries with fiscal years that close on December 31st will be capped at 2 percent for the 2020 fiscal year, according to State Comptroller Thomas P. DiNapoli. All libraries that have their own board and their own budget vote – even if you did hold a vote or don’t plan to hold a vote in 2019 are required to file the online “tax cap form” with the NYS Office of the State Comptroller by the end of the year. A reminder that any override of the cap must be accompanied by a cap override resolution passed by a super majority of the library’s board of trustees prior to the adoption of the 2020 budget.

A primer on the Tax Cap for libraries is available from MHLS at http://bit.ly/2ceMNlO