New York S02277 amends the education law to set the tax levy limit at zero percent when the prior year's tax levy exceeds the limit.

New York S02277 amends the education law to adjust the tax levy limit for school districts. Specifically, if the difference between the total amount of taxes levied for the prior year and the tax levy limit results in a negative number, the tax levy limit will be set at zero percent increase over the prior year tax levy. Additionally, school districts must submit necessary information to the state comptroller, the commissioner, and the commissioner of taxation and finance by March 1 each year. The determination of the tax levy limit by the school district is subject to review.

New York S02277 amends the education law to set the tax levy limit at zero percent when the prior year's tax levy exceeds the limit.

New York S02277 amends the education law to adjust the tax levy limit for school districts. Specifically, if the difference between the total amount of taxes levied for the prior year and the tax levy limit results in a negative number, the tax levy limit will be set at zero percent increase over the prior year tax levy. Additionally, school districts must submit necessary information to the state comptroller, the commissioner, and the commissioner of taxation and finance by March 1 each year. The determination of the tax levy limit by the school district is subject to review.