A report released this month by the state Comptroller’s Office finds more localities are looking to override the 2% property tax cap which has been in place for the last 15 years.
Nearly half of New York’s cities have planned to override the tax cap in the local fiscal year ending in 2026, while nearly a quarter of New York’s 62 counties have done the same.
The report finds that many local governments are experiencing slow growth in recurrent revenue while also dealing with increasing costs due to inflation. The expiration of federal pandemic-era relief programs has also increased the burden onto localities.
Syracuse City Auditor Alex Marion joined Capital Tonight to discuss the burden that localities are carrying.
