Towns considering levy cap increases have deadlines to adhere to

TRENTON – The state is notifying towns on a calendar-based fiscal year that are considering exceeding the state-imposed levy cap that there are some deadlines to remember.

The state issued a Local Finance Notice for towns that may want to try and exceed the 2 percent municipal property tax levy cap or the 2.5 percent appropriation cap.

Towns that are considering a levy cap referendum must publish a display advertisement announcing that a referendum may be held.

The deadlines are Feb. 22 for April levy elections and March 13 for May levy elections.

In addition, the state pointed out that towns with Type II boards of education will hold their referendums on April 17 regardless of when the school board elections are held.

Towns considering levy cap increases have deadlines to adhere to