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Schenectady tax math as painful as paying

Confusion over tax cap rampant in city, state

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Although the city proposed budget will raise taxes by 4.18 percent, it doesn’t violate the so-called 2 percent tax cap. In fact, the city must stay under a 1 percent tax cap for next year, and it just managed to do so. The levy increased by 0.86 percent, or $274,000. Yet taxes are going up more than 4 percent. “The tax cap is on the levy, not the tax rate,” Finance Commissioner Ismat Alam explained. ...

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