Ninety-Eight Percent of School District Anticipate Staying Under Tax Cap

ALBANY, NY (03/04/2020) (readMedia)-- ASBO New York analyzed recent school district tax cap filings with the Office of the State Comptroller (OSC) and the preliminary calculations show that 98% of districts plan to stay under the cap for 2020-21 school year.

This is the first time in three years that the statewide growth factor, based on the Consumer Price Index for Urban Consumers (CPI-U), has been less than 2%. It is 1.81% for the 2020-21 school year, although individual school district maximum allowable levies will be based on each district's specific factors such as PILOTs and voter approved expenditures for capital projects.

The statewide maximum allowable levy increase for 2020 is 2.95%, while school district proposed levy increases statewide are 2.69%. In addition, 13 districts are proposing to override their tax caps, which is the same number that proposed last year. The final number of overrides will change as more information becomes available such as final state aid numbers.

"The final amount of state aid and other policy measures included in the state budget that can help districts will impact the budgets that districts will submit to voters in May," stated Michael J. Borges, ASBO New York Executive Director.