Though it was originally billed as a 2 percent property tax cap, the formula for calculating local levy limits is complex and provides exceptions for specific sorts of spending. The average levy limit this year was 5.1 percent, compared with 3.5 percent last year.

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Some 97 percent of proposed budgets relied on reserve funds to help stay within the cap without cutting educational programs and services next year, according to a NYSSBA analysis. In all, districts expected to use $1.3 billion in reserves.

Exceeding tax cap proves big risk
On Board Online • May 27, 2013
Budget votes
By Cathy Woodruff

Irvington UFSD did not use its $2 million-dollar fund balance to stay within the cap.

AND SEE:
IUFSD Fund Balance (Property Report Card)
Only 4% of districts try to break tax cap
Singapore Math explains the budget