NY A07254

Limits annual increases in base proportions for property tax classes to 1 percent for special assessing units (not cities) in Nassau County using the 2023 assessment roll, down from the standard computation method.

Requires legislative bodies in Nassau County to adjust base proportions of remaining classes proportionally so that all current base proportions sum to one when the 1 percent cap is triggered.

Extends the Suffolk County cap on base proportion increases to include the 2023-2024 assessment roll (previously capped at 2023), maintaining the 1 percent increase limit for that year.

Makes the Nassau County provisions applicable only to approved assessing units that pass a local law, ordinance, or resolution adopting these provisions.

Takes effect immediately, with application to tax levies based on the 2023 assessment roll for qualifying units.