NY A05066

Adds "all costs associated with real property revaluations or reassessments" as an exemption to the tax levy limit under General Municipal Law Section 3-c.

Allows local governments to budget for revaluation and reassessment costs without counting them against their tax levy limit restrictions.

Updates references throughout Section 3-c to include the new exemption category alongside existing exemptions for teacher retirement system contributions and other specified expenditures.

Requires a 60 percent supermajority vote by the local governing body to override the tax levy limit for any costs not covered by the exemptions.

Takes effect immediately upon enactment.