What's happening
This bill requires New York City to reduce its 2020 real property tax levy by at least the amount of the 2002 tax increase.
Why it matters
Directly reduces the property tax burden for NYC taxpayers. by rolling back at least the amount of the significant 2002 property tax increase, potentially lowering tax bills for homeowners, landlords, and renters (indirectly).
May impact city services and budgets. , as a mandated reduction in property tax revenue could force New York City to find alternative sources of funding or cut spending on public services, infrastructure, and programs.
Targets a specific past tax hike. , signaling legislative intent to address long-standing concerns about affordability and the cost of living in NYC, and responding to criticism of past fiscal decisions.
Could set a precedent for future state intervention. in local tax policy, raising questions about city autonomy and the balance of power between state and municipal governments.
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Who cares
Headline styles
Lower Property Taxes in Cities
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to cities
- Referred to cities
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3149
2019-2020 Regular Sessions
IN SENATE
February 4, 2019
Introduced by Sen. LANZA -- read twice and ordered printed, and when printed to be committed to the Committee on Cities
AN ACT directing a city with a population of one million or more to reduce its real property tax levy
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Notwithstanding any provision of general, special or local law to the contrary, a city with a population of one million or more shall reduce its real property tax levy for the 2020 fiscal year by an amount not less than the real property tax increase authorized pursuant to local law 40 of the city of New York for the year 2002.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09432-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act directing a city with a population of one million or more to reduce its real property tax levy
Purpose
To reduce the real property tax levy for the 2019 fiscal year of cities with a population of one million or more.
Summary of provisions
Section 1 mandates that cities with a population of one million or more shall reduce its real property tax levy for the 2019 fiscal year by an amount not less than the approximately eighteen percent real property tax increase authorized pursuant to local law 40 of the city of new York for the year 2002.
Section 2 provides the effective date.
Justification
In 2002, following the 9/11 terrorist attack, the Mayor and the City Council of New York City increased the property tax by approximately 18 percent to fill a six billion dollar budget gap. These government offi- cials said that this tax increase was part of an emergency budget plan to keep government services uninterrupted. It was approved at an aston- ishing speed with limited public input. This "temporary" measure was the largest tax increase in the history of the City of New York, and although it was passed as an emergency measure; it has withstood time and still inflates the tax rates for city residents today, sixteen years later. This bill, in effect, repeals this temporary provision to give relief to the hardworking taxpayers of New York City
Legislative history
2018: S.8567 - Passed Senate
Fiscal implications
To be determined.
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.