Amends real property tax law to limit base proportion increases in Nassau and Suffolk counties for 2025-2026.

This bill amends the real property tax law to limit the increase in base proportions for certain classes in assessing units in Nassau and Suffolk counties. Specifically, it restricts the increase to one percent for the 2025-2026 assessment roll. If the computation would otherwise allow a greater increase, the base proportion is capped at one percent. The legislative body of the assessing unit must adjust the base proportions so their sum equals one. The changes apply to the 2025 assessment roll in approved assessing units that pass a local law or resolution.

Amends real property tax law to limit base proportion increases in Nassau and Suffolk counties for 2025-2026.

This bill amends the real property tax law to limit the increase in base proportions for certain classes in assessing units in Nassau and Suffolk counties. Specifically, it restricts the increase to one percent for the 2025-2026 assessment roll. If the computation would otherwise allow a greater increase, the base proportion is capped at one percent. The legislative body of the assessing unit must adjust the base proportions so their sum equals one. The changes apply to the 2025 assessment roll in approved assessing units that pass a local law or resolution.