NY S08151

Requires the Commissioner of Taxation and Finance to establish segment special equalization rates starting in fiscal year 2025 for Amityville Union Free School District and Farmingdale Union Free School District, specifically for portions located in the towns of Babylon and Oyster Bay

Segment special equalization rates will only be established if they would result in at least a 2% change in the share of the tax levy for at least one segment of the taxing jurisdiction

Limits the use of these segment special equalization rates solely for the apportionment of school taxes

Expands legal review authority by allowing any taxing jurisdiction within a split taxing jurisdiction that crosses county lines to commence proceedings seeking a revised state equalization rate for counties, villages, or school districts within that split jurisdiction

Requires recalculation of tax levies and appropriate credits or debits to constituent municipalities when a court orders a revised equalization rate, including adjustments to special franchise assessments