§ 10. Hereafter, in any county, city, village or school district\ndescribed in this section, the amount to be raised by tax on real estate\nin any fiscal year, in addition to providing for the interest on and the\nprincipal of all indebtedness, shall not exceed an amount equal to the\nfollowing percentages of the average full valuation of taxable real\nestate of such county, city, village or school district, less the amount\nto be raised by tax on real estate in such year for the payment of the\ninterest on and redemption of certificates or other evidence of\nindebtedness described in paragraphs A and D of section five of this\narticle, or renewals thereof:\n (a) any county, for county purposes, one and one-half per centum;\nprovided, however, that the legislature may prescribe a method by which\nsuch limitation may be increased to not to exceed two per centum;\n (b) any city of one hundred twenty-five thousand or more inhabitants\naccording to the latest federal census, for city purposes, two per\ncentum;\n (c) any city having less than one hundred twenty-five thousand\ninhabitants according to the latest federal census, for city purposes,\ntwo per centum;\n (d) any village, for village purposes, two per centum;\n (e) Notwithstanding the provisions of sub-paragraphs (a) and (b) of\nthis section, the city of New York and the counties therein, for city\nand county purposes, a combined total of two and one-half per centum.\n The average full valuation of taxable real estate of such county,\ncity, village or school district shall be determined by taking the\nassessed valuations of taxable real estate on the last completed\nassessment rolls and the four preceding rolls of such county, city,\nvillage or school district, and applying thereto the ratio which such\nassessed valuation on each of such rolls bears to the full valuation, as\ndetermined by the state tax commission or by such other state officer or\nagency as the legislature shall by law direct. The legislature shall\nprescribe the manner by which such ratio shall be determined by the\nstate tax commission or by such other state officer or agency.\n Nothing contained in this section shall be deemed to restrict the\npowers granted to the legislature by other provisions of this\nconstitution to further restrict the powers of any county, city, town,\nvillage or school district to levy taxes on real estate.\n
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