NY A09773

Amends Real Property Tax Law Section 1803-a to allow special assessing units that are not cities to limit increases in current base proportions to a maximum of one percent per year

Applies to current base proportions determined by the 2012 assessment roll, capping how much any property class proportion can increase compared to the prior year's adjusted base proportion

Requires the legislative body of affected special assessing units to adjust proportions of remaining property classes so that all current base proportions sum to one if the one percent cap is triggered

Takes effect immediately and applies to tax levies based on the 2012 assessment roll in approved assessing units