Property tax levy growth for local governments will be capped at 0.68 percent for 2017, decreasing slightly from 2016, when it was 0.73 percent, according to New York State Comptroller Thomas P. DiNapoli. The latest inflation figure affects the property tax cap calculations for local governments that operate on a calendar-based fiscal year (Jan 1. – Dec. 31), which includes all counties, towns, fire districts, 44 cities and 10 villages. A full report can be found here.