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History
- Referred to local government
- Print number 367a
- Amend and recommit to local government
- Referred to local government
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Provides for adjusted homestead and non-homestead adjusted base proportions in assessing real estate taxes in the town of Colonie
In Assembly Committee · Real Property Taxation · Sponsor Robert Reilly
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the real property tax law, in relation to adjusted base proportions in the town of Colonie
Purpose
To allow special assessing units under Article 19 of the Real Property Tax Law to adjust and limit the current base proportions to be determined by taxes based on such unit's 2009 assessment roll.
Summary of provisions
This bill amends Section 1903 of the Real Property Tax Law by adding a new subparagraph (x-i) to subdivision 3(a) to cap the maximum class growth rate at 1.00% in an approved assessing unit for the purposes of the 2009 tax roll.
Justification
Currently, state law provides that the current base proportions of any class in an approved assessing unit may not exceed the adjusted base proportion for that class from the prior year by more than 5%. This legislation would adjust that rule, for one year only, to cap the maximum cap growth rate at 1.00%. The change would reduce the amount by which any class of property is allowed to grow, thereby resulting in a property tax increase. This legislation reduces the burden to a class of properties, a burden which would otherwise cause taxpayers in that class to see a rate increase of more than 1% and the result being a significant increase in class property tax bills. This bill proposes to limit the rate of growth to 1.00% to ensure that property tax liabilities are more equitably distributed between the unit's classes of property.
Legislative history
2007/2008 - S.6971 Remained in the Senate Committee on Local Government
Fiscal implications
None.
Effective date
This act shall take effect immediately and shall apply to the levy of taxes on the 2009 assessment roll in an approved assessing unit.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.