NY A10270

Limits annual increases in property tax base proportions for non-city special assessing units to 1 percent for the 2024 assessment roll, with legislative bodies required to adjust remaining class proportions to equal one.

Extends the 2 percent cap on base proportion increases for Suffolk County approved assessing units through the 2024-2025 assessment roll, reducing to 1 percent for that final year.

Adds a 1 percent cap on base proportion increases for Nassau County approved assessing units for the 2024 assessment roll, contingent on the assessing unit passing a local law, ordinance, or resolution adopting these provisions.

Takes effect immediately, with application to tax levies based on 2024 assessment rolls in qualifying special assessing units and Nassau County approved assessing units that formally adopt the provisions.