New York S05906 amends the general municipal law to exclude uncollectible taxes from the limitation on real estate taxes in New York City.
New York S05906 amends the general municipal law to modify the calculation of the limitation on real estate taxes in New York City. Specifically, it excludes uncollectible taxes from the amount to be raised by tax on real estate. Uncollectible taxes are defined as those that taxpayers do not pay because they cannot or choose not to pay. This change affects the city of New York and the counties within it, impacting how they estimate and collect real estate taxes.
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