Bill > S07980

This bill amends the Real Property Tax Law to provide special guidance for cities in determining their adjusted base proportions for fiscal year 2026. Specifically, the bill allows the local legislative body of a special assessing unit (a city) to determine the percentage increase of its current base proportion, with a maximum increase of 5%. The local legislative body must make this determination by December 1, 2025. If a city has already sent out property tax bills for fiscal year 2026 before this law takes effect, the city is required to take necessary actions to implement the new provisions, which may include revising current base proportions, resetting tax rates, and sending amended tax bills. However, the bill stipulates that any tax installments already due and paid prior to the amended bills will not be affected. The legislation is designed to give cities more flexibility in setting their property tax base proportions for the specified fiscal year, while ensuring that taxpayers are not retroactively impacted by the changes.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S7980