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The "Tax Cap" in New York State
New York places restrictions on how school districts (and municipalities) may increase their tax levies. It requires at least 60 percent voter approval for a school budget if the proposed tax levy increase exceeds a threshold, known as the tax levy limit, which is unique to each district and calculated using a state formula. The 2026-2027 tax levy is at the "Cap" of 2.08%.
Information on Property Tax Levy Cap
Tax Rate = (Tax levy / Assessment) x 1,000
Property Tax = Tax Rate x (Assessed valued / 1,000)
i.e. - $14.00 x (250,000/1,000) = $3,500 (before STAR exemption or credit)
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Proposed Tax Levy $13,092,200
Tax Levy Increase $ 266,400 2.08%
Homeowner Impact - How will this affect my property taxes?
The budget adopted by the Board of Education represents an estimated tax levy increase of 2.08%. Any attempt to determine tax rates in May must be regarded as strictly an estimate. All other factors being equal, taxes would increase $40 on a $100,000 home. The following items are required for determining the actual tax rates:
Assessed Valuation by Towns: This information is not officially available from the Town Assessors until July. Increases will lower the tax rate.
Equalization Rates: These rates are established by the New York State Office of Real Property Tax Services and may change each year. In the past, changes have been made to equalization rates as late as mid-August.
| Home Value |
Estimate Increase |
| $150,000 |
$40 |
| $200,000 |
$53 |
| $250,000 |
$67 |
| $300,000 |
$80 |
| $350,000 |
$93 |
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