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NY A10621

Bill

Official Source

Status

Introduced

6/8/2012

Primary Sponsor

Herman Farrell

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Limits annual increases in current base proportions for property tax classes in cities to a maximum of 1.5 percent for fiscal year 2013
  • Requires cities to adjust current base proportions of remaining property classes so the total equals one if any class reaches the 1.5 percent cap
  • Allows cities that already sent fiscal year 2013 tax bills to revise and reissue bills to comply with the new cap, but taxpayers remain obligated to pay installments due before amended bills are sent
  • Authorizes cities to determine the date for sending amended bills and which installments to reflect in them
  • Takes effect immediately upon enactment

Legislative Description

Provides that in an assessing unit which is a city the current base proportion of any class shall not exceed the adjusted base proportion or adjusted proportion of the preceding year by more than 1 1/2 precent.

Last Action

substituted by s7640a

6/20/2012

Committee Referrals

Rules6/13/2012
Ways and Means6/8/2012

Full Bill Text

No bill text available