NY A06227

State board of real property tax services must conduct a study on real property tax saturation, defined as the impact of high percentages of tax exempt real property on municipal economic viability.

Study shall examine the percentage of tax-exempt real property in each county and provide detailed analysis of the top 20% of counties with highest tax-exempt property percentages, including impacts on housing markets, small business growth, job creation, population, and tax-exempt organizations over the preceding five years.

Board must analyze feasible revisions to real property tax policies and procedures to reduce tax burden on taxable properties in affected counties and recommend strategies for equitable distribution of real property taxation.

Board must report findings and legislative recommendations to the governor, senate temporary president, and assembly speaker no later than one year after the act's effective date.

Act takes effect immediately and expires two years after enactment or upon delivery of the required report, whichever comes first.