NY S08963

Establishes a "disputed assessment fund" in Nassau County to be maintained by the county treasurer and funded through annual charges levied on class four real property, not to exceed 10 percent of class four levies.

Charges for the fund appear as separate line items on county tax bills and monies collected are used solely to pay refunds, cancellations, and credits resulting from court settlements, final court orders, or assessment review commission determinations on class four properties.

Monies in the disputed assessment fund are not deemed county revenues or county expenditures, though the county may also fund refunds from other sources.

Exempts real property taxes and charges collected on the 2016-2017 and 2017-2018 tax rolls from the disputed assessment fund provisions, requiring separate accounting of those amounts.

Takes effect immediately upon enactment.