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Sponsors
No co-sponsors yet.
History
- Referred to education
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the education law, in relation to school property tax reduction (Part A); and to amend the education law, in relation to the submission to school district voters of a proposition relating to the imposition of a limitation on the tax levy (Part B)
Purpose
This bill to provide school property tax relief to primary homeowners and provides a mechanism for voter initiated tax limitation propositions to be placed on specific ballots.
Summary of provisions
PART A : This proposal would authorize voters to take a public vote to determine if school property taxes on primary residences (STAR eligible properties only) would be phased out over five years and be replaced with additional State funding. Districts which enter into this system would be required to reduce residential real property taxes on primary homes by 20 percent annually until the tax was eliminated. Eventually if every school district were under this new system State funding would fully replace the billions of dollars paid by homeowners in school taxes.
Part b
Authorizes voters to collect signatures on a petition to limit the change in the local school tax rates. If a sufficient number of signatures are collected, a proposition would be placed on the ballot at the next school budget vote. The petition would set the type of limits on the tax levy. If approved, the limits on increasing the tax levy would be in effect for one year.
Justification
This proposal would empower voters to take a public vote to determine if school property taxes on primary residences (STAR eligible properties only) would be phased out over five years and be replaced with additional State funding. The voter initiated tax limitation proposition is a proposal that gives voters a greater say in local tax rates by allowing them to collect signatures to limit the growth in the local school and municipal tax rates. If a sufficient number of signatures are collected, a proposition would be place on the ballot at the next school budget vote. The petition would set the type of limits on the tax levy. If approved, the limits on increasing the tax levy would be in effect for one year.
Legislative history
S.8522 of 2008: Passed Senate, Died in Assembly.
Fiscal implications
To Be Determined.
Effective date
Immediate.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.