Levy Limits Vary in Their Treatment of New Construction

Tax on existing and new property under a 2% levy limit by approach to new construction

Note: Example assumes a 5% increase in the taxable value of existing properties and new growth worth an additional 5%. Whether that new growth is included in, excluded from, or added to the cap yields growth (or negative growth) for existing property that can diverge from the overall limit (here, 2%).
Chart: Walczak Policy Consulting, The SALT Road Substack Download imageCreated with Datawrapper