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Tax cap to remain at 2 percent for school districts

The tax cap for school district budgets in New York will stay at 2 percent this year, according to state Comptroller Thomas P. DiNapoli.

This is the second consecutive year the tax cap will be at 2 percent for the 676 school districts and 10 cities with fiscal years starting July 1.

The cap, which was first applied to local governments and school districts in 2012, limits the tax levy increase to the rate of inflation or 2 percent, whichever is smaller. This year's inflation stands at 2.44 percent, according to DiNapoli.

Legislation allows certain exceptions to the tax cap, and school district budgets can be overridden by 60 percent of voters.

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