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History
- 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 base proportion in approved assessing units in Nassau county
In Senate Committee · Local Government · Sponsor Michelle Schimel
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 the base proportion in approved assessing units in Nassau county
Purpose or general idea of bill
To allow approved 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 2016 assessment roll.
Summary of specific provisions
This bill amends Section 1903 of the Real Property Tax Law by adding a new subparagraph (xvii) to subdivision 3 to cap the maximum class growth rate at 1% in an approved assessing unit for the purposes of the 2016 tax roll, provided that the such aforementioned assessing unit has passed a local law, ordinance or resolution providing therefore.
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%. The change would reduce the amount by which any class of property is allowed to grow. 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 and the result being a significant increase in class property tax bills. This bill proposes to limit the rate of growth to 1% to ensure that property tax liabilities are more equitably distributed between the unit's classes of property.
Prior legislative history
Chapter 94 of 2004, Chapter 20 of 2005, Chapter 24 of 2006, Chapter 46 of 2007, Chapter 123 of 2008, Chapter 382 of 2009, Chapter 273 of 2010, Chapter 36 of 2011, Chapter 30 of 2012, Chapter 85 of 2013; Chapter 333 of 2014, Chapter 256 of 2015.
Fiscal implications
None to the state or localities.
Effective date
This act shall take effect immediately and shall apply to the levy of taxes based on the 2016 assessment roll in approved assessing unit.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.