NY S03992

Extends tax class shift limitations in Orangetown, Rockland County to include the 2021-2022 assessment roll (previously limited through 2020-2021).

Maintains the existing one percent annual cap on how much the current base proportion of any property class can increase compared to the prior year.

Applies to approved assessing units that have passed a local law, ordinance, or resolution authorizing the limitations.

Requires the legislative body to adjust current base proportions of property classes so they sum to one if the computation would otherwise exceed the one percent increase limit.

Takes effect immediately upon enactment.