NY A09465

Caps annual increases in current base proportions for property tax assessment classes at one percent for special assessing units (non-cities) using their 2022 assessment roll.

Extends the one percent cap on base proportion increases to approved assessing units in Suffolk County for the 2022-2023 assessment roll (previously capped at two percent for earlier years).

Allows approved assessing units in Nassau County to adopt a one percent cap on annual base proportion increases for their 2022 assessment roll if they pass a local law, ordinance, or resolution.

Requires legislative bodies to adjust remaining class base proportions when increases are limited so that all proportions sum to one.

Takes effect immediately, with provisions applying to tax levies based on the 2022 assessment roll in eligible units that comply with local authorization requirements.