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NY A10671
Bill
Status
6/11/2016
Primary Sponsor
Charles Lavine
Click for details
AI Summary
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Allows special assessing units that are not cities to limit increases in current base proportions for any property class to no more than 1 percent annually, effective with the 2016 assessment roll.
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Expands the 1 percent cap on base proportion increases to apply to Suffolk County approved assessing units for tax years 2016-2017 and subsequent assessment rolls (previously capped at 2 percent for earlier years).
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Permits Nassau County approved assessing units to adopt a 1 percent cap on current base proportion increases for the 2016 assessment roll, provided they pass a local law, ordinance, or resolution authorizing such provisions.
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When computation of current base proportions would exceed the applicable cap, the legislative body must limit the increase to the cap percentage and adjust the proportions of remaining property classes to ensure the sum equals one.
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Effective immediately, with provisions applying to tax levies based on 2016 assessment rolls in eligible special and approved assessing units.
Legislative Description
Allows certain special assessing units other than cities to adjust their current base proportions; gives special and approved assessing units the authority to tailor their "cap" to local conditions each year, thereby removing the annual uncertainty; relates to adjusted base proportions for assessment rolls; relates to the base proportion in approved assessing units in Nassau county.
Last Action
substituted by s8046
6/16/2016