2019 state tax cap is increased for first time in 4 years
State Comptroller Thomas DiNapoli has set the tax cap for municipalities across the state at 2 percent for fiscal year 2019. The tax cap is set at 2 percent or the rate of inflation, whichever is lower. For the last four years, the cap has been lower than 2 percent. DiNapoli warned that municipalities should be cautious of increases in fixed costs and potential cuts to federal funding.
Local governments will need a simple majority to approve tax increases below the cap and a super majority to exceed the cap.