The Daily Gazette
The Locally Owned Voice Of The Capital Region

Tax cap to tighten for municipalities

As inflation dips, ‘2%’ limit becomes 1.66%

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A slowdown in inflation has tightened the state’s tax cap and will likely force municipalities in the upcoming budget season to cut more spending or attempt to override the cap. Billed as a 2 percent property tax cap when it was created in 2011, the cap on the growth in property taxes can be lowered if inflation drops below 2 percent. According to state Comptroller Thomas DiNapoli’s office, the rate of inflation has dropped below ...

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