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NY S09416
Bill
Status
Introduced
3/10/2026
Primary Sponsor
Stephen Chan
Click for details
AI Summary
- Expands property tax assessment cap protections in New York City to residential buildings with fewer than 35 units, up from the current threshold of 11 units
- Assessment increases remain limited to no more than 8% in any single year and no more than 30% over any five-year period
- Applies to class two parcels (residential properties) within special assessing units wholly contained within a city
- Introduced by Senator Chan on March 10, 2026, and referred to the Committee on Local Government
Legislative Description
Relates to increasing the number of units subject to an assessment cap; provides that the assessment roll of a special assessing unit wholly contained within a city shall identify those parcels classified in class two which have fewer than thirty-five residential units.
Last Action
REFERRED TO LOCAL GOVERNMENT
3/10/2026
Committee Referrals
Local Government3/10/2026
Full Bill Text
No bill text available