New York S09416 amends the real property tax law to adjust the assessment cap for certain residential units.

New York S09416 amends the real property tax law by modifying the assessment cap for special assessing units within a city. Specifically, it requires the assessment roll to identify parcels classified in class two with fewer than thirty-five residential units. This change aims to ensure that these parcels are subject to a cap on annual and five-year assessment increases.

New York S09416 amends the real property tax law to adjust the assessment cap for certain residential units.

New York S09416 amends the real property tax law by modifying the assessment cap for special assessing units within a city. Specifically, it requires the assessment roll to identify parcels classified in class two with fewer than thirty-five residential units. This change aims to ensure that these parcels are subject to a cap on annual and five-year assessment increases.