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What is the Growth Limitation Factor and how is it calculated?

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What is the Growth Limitation Factor and how is it calculated?

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The Growth Limitation Factor refers to the allowable increase in a town’s property tax levy. Each year, a town’s Municipal Property Tax Levy Limit is calculated by increasing the previous year’s limit by the Growth Limitation Factor. The Growth Limitation Factor is based on the local Property Growth Factor and the statewide Income Growth Factor.

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