NY S01202

Directs the State Board of Real Property Tax Services to conduct a study on real property tax saturation, defined as the impact of high percentages of tax-exempt real property on municipal economic viability.

Requires the study to calculate the percentage of tax-exempt real property in each county and examine counties in the top 20th percentile of tax exemption for impacts over the preceding five years, including effects on housing, small business growth, job creation, population, nonprofit organizations, and park land.

Mandates the study include feasible revisions to real property tax policies and strategies to support equitable distribution of tax burden within affected counties.

Requires the State Board to deliver findings and legislative recommendations to the Governor, Senate President, and Assembly Speaker no later than one year after the act takes effect.

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