The Office of the State Comptroller announced that the property tax levy growth will again (for the second year) be capped at 2% for 2023 for impacted entities that operate on a calendar-based fiscal year. The inflation factor calculation is 7.17%.
In the press release, the Comptroller acknowledged that costs will be higher than “expected or planned” and that it will be “harder to adhere to the tax cap.”
For newer directors who may be unfamiliar with the Property Tax Cap in New York State, there are answers to frequently asked questions about this, including instructions for how to override the cap, in the new Public Library District Toolkit from the State Library.
