Bill > S08151

This bill authorizes the commissioner of taxation and finance to establish "segment special equalization rates" starting in fiscal year 2026 for specific portions of the Amityville Union Free School District and Farmingdale Union Free School District that lie within the towns of Babylon and Oyster Bay. An equalization rate is a figure used to ensure that property taxes are assessed fairly across different taxing jurisdictions, and a "segment special equalization rate" would apply to a specific part of a school district that spans across town or county lines. This new provision will only be implemented if using these special rates would result in at least a two percent change in the tax burden for at least one segment of the taxing jurisdiction, and these rates will be used exclusively for dividing school taxes among the different segments. Additionally, the bill amends existing law to allow any taxing jurisdiction that is split across county lines to initiate proceedings for a revised state equalization rate for any county, village, or school district within that split jurisdiction.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S8151