NY S00265

Directs the State Board of Real Property Tax Services to conduct a study on "real property tax saturation," defined as the impact of high percentages of tax-exempt property on a municipality's economic viability

Requires the study to determine the percentage of tax-exempt real property in each county statewide

Mandates an in-depth examination of counties in the top 20th percentile for tax-exempt property, analyzing impacts over the preceding 5 years on housing markets, small business growth, job creation, population changes, and nonprofit organizations

Requires the board to identify feasible policy revisions to reduce tax burdens on taxable properties and strategies for equitable tax distribution in affected counties

Report with findings and legislative recommendations due to the Governor, Senate President, and Assembly Speaker within 1 year; act expires after 2 years or upon report delivery, whichever comes first