Bill > S05221

This bill extends an existing local tax assessment limitation for the town of Orangetown in Rockland County, New York, for the 2025-2026 assessment year. Specifically, the bill modifies a provision of the real property tax law that restricts how much the base proportion (a calculation used to determine property tax assessments) for different classes of property can change from one year to the next. Under this law, no property class can have its base proportion increase by more than 1% compared to the previous year, unless the local legislative body passes a resolution to adjust the proportions. The bill adds the 2025-2026 assessment roll to the list of years where this limitation applies, continuing a practice that has been in place since the 2018-2019 assessment year. This type of limitation helps prevent sudden large shifts in property tax burdens between different property classes (such as residential, commercial, or industrial properties) by capping the annual changes in how tax assessments are calculated.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S5221