Bill > A08605

This bill authorizes the New York State Commissioner of Taxation and Finance to establish segment special equalization rates starting in fiscal year 2025 specifically for the Amityville Union Free School District and Farmingdale Union Free School District, but only for the segments of these districts located in the towns of Babylon and Oyster Bay. A segment special equalization rate will only be established if it would result in at least a two percent change in the share of the tax levy for at least one segment of the taxing jurisdiction. These special equalization rates are to be used solely for apportioning school taxes, which means they will help determine how property taxes are distributed among different segments of these school districts that cross county lines. The bill also modifies existing real property tax law to allow taxing jurisdictions that span multiple counties to seek revised state equalization rates through legal proceedings. The legislation is designed to provide more precise tax allocation for these specific school districts and will take effect immediately upon passage.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A8605