The tax cap is getting lower … at least a little bit for the time being. A slight decrease to the property tax cap for school districts is falling a little bit for the upcoming fiscal year.
It will be lowered from 2% to 1.81% this summer. That means budget officers in local school districts are having to consider ways to stay beneath the new cap.
Canandaigua City School District Superintendent Jamie Farr said the changes would be a challenge for schools to navigate.
He said state officials “have truly made financial management for public school districts challenging, and it will for many years to come.”
The tax cap was implemented in 2011. State Comptroller Thomas DiNapoli sets the tax-cap limit each year for schools and municipalities.
To have the latest delivered to your smartphone or tablet – download the FingerLakes1.com App for Android and iOS. Follow the links below to download the app now! – Android (All Android Devices) – iOS (iPhone, iPad)