In June 2011, New York state leaders responded to calls for  property tax relief by enacting a law that placed new restrictions on how school  districts (and municipalities) may increase their tax levies*. Although often  referred to as a “2 percent tax cap,” the law does not, in fact, restrict any  proposed tax levy increase to 2 percent. It does, however, require at least 60  percent voter approval (supermajority) for a school budget if the proposed levy  increase exceeds a certain amount.

That amount, called the “tax levy limit,” is calculated by each district  according to a complex formula outlined in the law, and varies by district.

Tax Levy Cap Resources

Understanding New York State's Tax Levy Cap (pdf)

Fact Sheet: The 3 Tax Levy Numbers (pdf)

Fact Sheet: Tax Levy Limit Formula  (pdf)

Fact Sheet: Tax Levy Cap Raises the Stakes for Schools  (pdf) - About Contingent Budgets

Year 2 of NY's Tax "Cap" Law: Still Not 2 Percent - Video March 22, 2013