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NY A05149
Bill
Status
2/12/2025
Primary Sponsor
Karl Brabenec
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AI Summary
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Prohibits the state from enacting unfunded mandates on school districts or municipal corporations that exceed $10,000 annually per entity or $1 million aggregate annually, with exceptions for court orders, federal requirements, optional programs, and emergency orders
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Creates an optional system allowing school districts to phase out residential property taxes over 5 years (20% reduction annually) with the state replacing the lost revenue through increased aid, funded by lottery proceeds and cost savings from a required state agency audit
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Establishes property tax protections for seniors 65 and older, including a capped school tax rate and fixed assessed value for those with combined annual income of $100,000 or less, with 100% state reimbursement to districts
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Increases state assistance for property revaluation from $5 to $15 per parcel and provides additional $2 per parcel bonus when all assessing units within a school district revalue at 100% in the same year
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Creates an 11-member Blue Ribbon Commission on Property Tax Reform to examine the ad valorem tax system and education financing, with a final report due December 1, 2027
Legislative Description
Relates to school property and real property taxes; establishes the blue ribbon commission on property tax reform; relates to state assistance for local real property reassessment, state assistance to assessing units within a school district, providing a fixed real property assessed value for residential real property owned by certain persons over the age of 65 and providing state reimbursement to municipalities for lost real property tax revenue; requires the state to fund certain programs mandated for municipal corporations or school districts.
Last Action
referred to education
1/7/2026