Bill > S05220

This bill extends an existing limitation on property tax assessment proportions for the town of Clarkstown in Rockland County for an additional year. Specifically, the bill amends the real property tax law to include the assessment roll for the 2025-2026 fiscal year in a series of previous years where property tax base proportions for different property classes (such as residential and commercial) cannot increase by more than 1% from the previous year. This means that when calculating property tax assessments, no property class can see its proportion increase by more than 1% compared to the previous year's assessment, helping to prevent sudden, significant shifts in tax burdens. The limitation applies only if the local legislative body has passed a local law, ordinance, or resolution supporting this approach, and if the proportions exceed the 1% threshold, the legislative body must adjust the base proportions to ensure they total to 100%. The bill takes effect immediately upon passage.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S5220