New York S09188 establishes a blue ribbon commission to examine property tax reform and proposes tax relief for seniors.

New York S09188 creates a blue ribbon commission on property tax reform to study and recommend changes to the property tax system. The commission will examine areas such as accountability, governance, property assessments, spending controls, and alternative funding sources. The bill also proposes a capped real property school tax rate for persons aged 65 and over with certain income limits. Additionally, it provides a fixed real property assessed value for eligible seniors and mandates state reimbursement to municipalities for lost tax revenue.

New York S09188 establishes a blue ribbon commission to examine property tax reform and proposes tax relief for seniors.

New York S09188 creates a blue ribbon commission on property tax reform to study and recommend changes to the property tax system. The commission will examine areas such as accountability, governance, property assessments, spending controls, and alternative funding sources. The bill also proposes a capped real property school tax rate for persons aged 65 and over with certain income limits. Additionally, it provides a fixed real property assessed value for eligible seniors and mandates state reimbursement to municipalities for lost tax revenue.