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NY S07980
Bill
Status
10/27/2025
Primary Sponsor
Andrew Gounardes
Click for details
AI Summary
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Allows the local legislative body of a special assessing unit that is a city to determine the percent increase of current base proportions over adjusted base proportions for fiscal year 2026, capped at no more than 5%
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Requires the local legislative body to make this determination by December 1, 2025
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Mandates that if a city has already sent out property tax bills for fiscal year 2026 before the act takes effect, it must revise base proportions, reset tax rates, and send amended tax bills
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Preserves taxpayer obligations for any property tax installments that were due and payable before amended bills are sent, based on law in effect prior to this act
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Takes effect immediately upon passage
Legislative Description
Relates to the determination of adjusted base proportions in special assessing units which are cities for fiscal year 2026.
Last Action
SIGNED CHAP.487
10/27/2025