Bill > A08629

This bill modifies the real property tax law for special assessing units (cities) in New York state for fiscal year 2026, specifically addressing how base proportions are calculated for property tax purposes. The legislation allows the local legislative body of a city to determine the percentage increase of the current base proportion compared to the previous year's adjusted base proportion, with a key limitation that this increase cannot exceed 5%. The local legislative body must make this determination by December 1, 2025. If the 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. Importantly, any tax installments already due and paid prior to the amended bills will not be affected, and the city has the authority to determine the timing and details of sending these revised bills. The act is designed to provide flexibility to cities in setting their property tax base proportions while maintaining a reasonable cap on potential increases.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A8629