The United States City Average Consumer Price Index (CPI-U) for December 2016 was 241.432 representing a change of 2.1 percent over the index for December 2015.
The Northeast Area Consumer Price Index for December 2016 was 256.427— representing a change of 1.9 percent over the index for December 2015.
The New York-Northern New Jersey Area Consumer Price Index for December 2016 was 265.421— representing a change of 2.1 percent over the index for December 2015.
The January CPI will be available February 15, 2017.
|The Average Annual Change in the CPI for the 2016 calendar year was 1.26%.
This is important because under the tax cap law, allowable increases in the
property tax levy are based on either 2 percent or the rate of inflation, whichever
is less. Therefore, districts will use a 1.26% inflation factor, not 2.0%, when they
are calculating their tax levy limit for 2017-18. Districts must use a nine-step
formula to calculate their tax levy limit and submit this information to the NYS
Office of State Comptroller by March 1, 2017.
Released on January 18, 2017