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NY S05906
Bill
Status
3/3/2025
Primary Sponsor
Andrew Lanza
Click for details
AI Summary
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Allows New York City to add a reserve amount to its real estate tax levy starting July 1, 2025 for taxes estimated to be uncollectible, minus amounts collected from prior levies including through tax lien sales
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Defines "uncollectible" taxes as amounts taxpayers do not pay either because they cannot pay or choose not to pay
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Prohibits the uncollectible reserve from including any tax abatement or exemption amounts, specifically excluding senior citizen exemptions (SCHE), disabled persons exemptions, and various other property tax relief programs under the Real Property Tax Law
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Applies specifically to New York City and the counties contained within it for city and county purposes
Legislative Description
Relates to the exclusion of uncollectible taxes from the limitation on real estate taxes in New York City.
Last Action
REFERRED TO CITIES 1
1/7/2026