Property tax levy growth for school districts will be capped at 0.12% above current levels for the 2016-17 fiscal year.

That's according to data released by State Comptroller Thomas DiNapoli.

The latest calculation affects the tax cap calculations for 677 school districts as well as 10 cities, including the “Big Four” cities of Buffalo, Rochester, Syracuse and Yonkers.

The tax cap, which first applied to local governments beginning in 2012, limits tax levy increases to the lesser of the rate of inflation or 2%.

School districts can override the cap with 60% voter approval of their budget.

New York State Schools Boards Association Executive Director Timothy Kremer released the following statement on the Tax Cap:

Today’s announcement that property tax levy growth for school districts will be capped at 0.12 percent next year will create a hardship for school districts and their ability to meet student needs.

That’s because schools will not be able to raise any meaningful new revenue without obtaining a 60 percent supermajority in support of their budget – a very challenging task.

To put this into perspective, the median school tax levy in 2015-16 was slightly less than $15 million.  Under a 0.12 percent tax cap, the levy would generate less than $18,000 in additional local revenue – not enough to hire a full-time teacher.

The alarmingly low tax cap reinforces the need for significantly more state education aid, beyond that proposed in the Executive Budget.

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