New York § 980-K - 980-KTax and debt limitations
Full text of New York New York Consolidated Laws § 980-K — 980-KTax and debt limitations, with citation guidance and answers to common questions.
§ 980-K. 980-KTax and debt limitations
§ 980-k. Tax and debt limitations. (a) The aggregate amount of outstanding indebtedness that is incurred to provide funds for capital improvements pursuant to this article shall be chargeable against the municipality's constitutional debt limit and may not exceed ten percent of the amount allowable under that limit. The aggregate amount of outstanding indebtedness that is incurred to provide funds for capital improvements pursuant to this article and that is chargeable against the property within the district may not exceed seven percent of the average full valuation of taxable real property in the district. (b) The district charge, exclusive of debt service, levied in a given year against real property in a district may not exceed twenty percent of the total general municipal taxes levied in that year against the taxable real property in the district. The district charge so levied shall be included in the total amount, if any, that the municipality is permitted by law to raise in that year by a tax on real property.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 980-K
What does New York Consolidated Laws § 980-K cover?
Section 980-K ("980-KTax and debt limitations") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 980-K?
A common citation format is "New York Consolidated Laws § 980-K" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 980-K apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.