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NY S02101
Bill
Status
1/18/2023
Primary Sponsor
Peter Harckham
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AI Summary
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Amends the real property tax law to modify how STAR (School Tax Relief) exemption tax savings are calculated for parcels beginning with the 2019-2020 school year.
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Changes the tax savings calculation so that the amount cannot be less than the prior year's tax savings (in addition to the existing cap that it cannot exceed the prior year amount).
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Establishes that tax savings applicable to any portion of an assessing unit within a school district must equal or stay within a range bounded by the prior year's amount.
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Requires the commissioner to calculate tax savings limitations for purposes of this provision.
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Becomes effective on July 1 following enactment and applies to all assessments occurring on or after that date.
Legislative Description
Provides that the amount of a STAR real property tax savings may not be less than the amount of the STAR real property tax savings from the previous year.
Last Action
REFERRED TO LOCAL GOVERNMENT
1/3/2024