New York bill S07980 amends the real property tax law to adjust base proportions in special assessing units for fiscal year 2026.
New York bill S07980 amends the real property tax law to allow local legislative bodies in special assessing units, which are cities, to determine the percent increase of the current base proportion for fiscal year 2026. This percent increase must not exceed five percent and must be determined by December 1, 2025. If real property tax bills have already been sent out for fiscal year 2026, the city must take necessary actions to revise the base proportions and reset the tax rates.
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