Bill > A08568

This bill modifies the way base proportions for property tax assessments are calculated in Nassau and Suffolk counties for the 2025-2026 assessment period. Specifically, the legislation limits the increase of base proportions (the percentage used to determine property tax valuations) to no more than one percent in Nassau County and certain special assessing units, and maintains the existing one percent limit for Suffolk County. In practical terms, this means that for the 2025 assessment roll, property tax calculations cannot increase the base proportion for any property class by more than 1% from the previous year's proportion. If the standard calculation would result in an increase greater than 1%, the legislative body of the assessing unit must adjust the base proportions of other property classes to ensure the total proportions still equal 100%. For Nassau County, this change only applies if the local government passes a specific law or resolution adopting these provisions. The bill aims to provide stability and predictability in property tax assessments for these counties by restricting rapid increases in property valuation percentages.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A8568