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Sponsors
Senator · Senate District 3
No co-sponsors yet.
History
- Committed to rules
- Advanced to third reading
- 2nd report cal.
- 1st report cal.836
- 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.
Relates to the computation of adjusted base proportions for tax assessment rolls
In Senate Committee · Local Government · 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 adjusted base proportions for assessment rolls
Purpose
To enact legislation which limits the amount of a property tax shift from one class of property to another for 2015-2016, due to large fluctuations in property values between property classes for the Town of Islip, which is the only approved assessing unit in the county of Suffolk.
Summary of 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 year legislation which limits the amount of a property tax shift between classes of properties 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, 2008-2009, 2012-2013, 2013-2014, 2014-2015 and 2015-2016 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 at one percent for the 2015-2016 assessment roll. This will create real property tax stability for another year for approved assessing units within the County of Suffolk.
Legislative history
New 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.