Establishes a 13-member temporary state commission on New York City property tax reform.

The bill creates a 13-member temporary state commission on New York City property tax reform. The commission aims to propose reforms that promote fairness, clarity, and simplicity, eliminate structural inequality, encourage affordable and multifamily housing, include owner relief programs, and ensure low- and moderate-income owners have affordable tax bills without displacing primary residents. The mayor of New York City must present a reform plan to the commission by August 31, 2025.

Establishes a 13-member temporary state commission on New York City property tax reform.

The bill creates a 13-member temporary state commission on New York City property tax reform. The commission aims to propose reforms that promote fairness, clarity, and simplicity, eliminate structural inequality, encourage affordable and multifamily housing, include owner relief programs, and ensure low- and moderate-income owners have affordable tax bills without displacing primary residents. The mayor of New York City must present a reform plan to the commission by August 31, 2025.