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NY A03186

Bill

Official Source

Status

Introduced

1/23/2025

Primary Sponsor

Christopher Eachus

Click for details

Origin

Assembly

2025-2026 General Assembly

AI Summary

  • Amends the real property tax law to guarantee that STAR (School Tax Relief) exemption savings cannot decrease from one year to the next
  • Changes the calculation for the basic STAR exemption so tax savings must equal (rather than not exceed) the prior year's amount
  • Establishes a floor for the enhanced STAR credit, ensuring tax savings cannot be less than the previous year's savings while maintaining the existing 2% annual cap on increases
  • Requires the commissioner to calculate tax savings limitations under these new rules
  • Takes effect 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 real property taxation

1/7/2026

Committee Referrals

Real Property Taxation1/23/2025

Full Bill Text

No bill text available