Bill > A00309

This bill directs the State Board of Real Property Tax Services to conduct a study on "real property tax saturation," which refers to the impact of high percentages of tax-exempt real property within a municipality on its overall economic viability. The study will examine the percentage of tax-exempt real property in each county, the impact of such exemptions on various economic factors, potential revisions to real property tax policies and practices to reduce the tax burden, and strategies to support an equitable distribution of real property taxation. The board is required to deliver a report of its findings and recommendations to the Governor, Senate, and Assembly within one year of the bill's effective date, and the bill will expire two years after the effective date or upon delivery of the report, whichever comes first.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2023/A309