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History
- Referred to local government
- Returned to senate
- Died in assembly
- Referred to real property taxation
- Delivered to assembly
- Passed senateVote 58–0
- Ordered to third reading cal.840
- Referred to rules
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.
Relates to limiting base proportion for the 2009-2010 assessment roll in school districts in the town of Islip with special equalization rates
In Assembly Committee · Real Property Taxation · Sponsor Philip Ramos
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 limiting base proportion of the 2009-2010 assessment roll in the school districts in the town of Islip with special equalization rates
Purpose or general idea of bill
To limit the base proportion for 2009-2010 limiting the amount of a property tax shift from one class of property to another due to large fluctuations in property values between property classes.
Summary of specific provisions
This bill amends subparagraph (iv) of paragraph (a) of subdivision 3 of section 103 of the real property tax law by extending for one more year the legislation which limits the amount of a property tax shift between classes of properties in the town of Islip which is caused by large fluctuations in property values within classes.
Justification
In Suffolk County there is a large differential in property tax value increases between classes of property. This in turn causes a large property tax increase in one class of property. Presently, the amount of taxes which can be shifted from one class to another is generally capped at five percent, but for the 2005-2006, 2006-2007, 2007-2008 and the 2008-2009 tax rolls it was capped at 1 percent to protect against large property tax shifts. This legislation will extend the authority to cap the property tax shift for an additional year (2009-2010 assessment roll) for school districts located within the town of Islip.
This extension is only needed for the town of Islip as there is a discrepancy between the base proportions that were computed for the 2004 roll of an approved assessing unit in the County of Suffolk and the base prop011ions that would have been computed if the homestead base proportion exceeded the homestead adjusted base proportion of the immediately preceding year by two percent. This discrepancy needs to be corrected so as not to create a large property tax increase. This legislation is once again necessary to extend the cap on property tax shifts to reflect such correction. This will create real property tax stability for another year for approved assessing units within the town of Islip.
Prior legislative history
Similar to previous enacted legislation
Fiscal implications
There are no costs to the state or localities. This bill will allow for a more equitable distribution of real property taxes between classes of property.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.