NY A10442

Amends Real Property Tax Law Section 1803-a to allow cities to determine the percent increase of current base proportions for fiscal year 2023, capped at a maximum of 5 percent.

Requires the local legislative body of the city to make this determination by October 1, 2022.

Allows cities that have already sent out fiscal year 2023 real property tax bills to revise base proportions, adjust tax rates, and send amended bills to comply with this act.

Protects taxpayers by ensuring that any tax installments due before amended bills are sent remain payable under the law in effect prior to this act's effective date.

Takes effect immediately upon enactment.