Bill > S08151

This bill authorizes the commissioner of taxation and finance to establish segment special equalization rates for the Amityville and Farmingdale Union Free School Districts starting in fiscal year 2025, specifically for the portions of these districts located in the towns of Babylon and Oyster Bay. A segment special equalization rate is a method of calculating property tax rates for specific segments of a school district that cross municipal boundaries. The bill stipulates that these special rates can only be established if the change in tax levy for at least one segment of the district would be at least two percent. The rates will be used exclusively for apportioning school taxes, and the bill also modifies existing real property tax law to allow taxing jurisdictions that cross county lines to seek revised state equalization rates through legal proceedings. The legislation is designed to provide more precise and fair property tax calculations for school districts with territories in multiple towns or counties. The act will take effect immediately upon passage.

Budget and Finance, Government Affairs

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