New York S10273 amends the real property tax law to set a cap on the percent increase for adjusted base proportions in special assessing units for.

New York S10273 amends the real property tax law to modify how adjusted base proportions are determined in special assessing units that are cities for fiscal year 2027. The bill specifies that the percent increase of the current base proportion over the adjusted base proportion of the previous year must not exceed five percent. This determination must be made by the local legislative body by December 1st. The bill also includes provisions for revising current and adjusted base proportions and resetting the real property tax window if tax bills have already been sent out.

New York S10273 amends the real property tax law to set a cap on the percent increase for adjusted base proportions in special assessing units for.

New York S10273 amends the real property tax law to modify how adjusted base proportions are determined in special assessing units that are cities for fiscal year 2027. The bill specifies that the percent increase of the current base proportion over the adjusted base proportion of the previous year must not exceed five percent. This determination must be made by the local legislative body by December 1st. The bill also includes provisions for revising current and adjusted base proportions and resetting the real property tax window if tax bills have already been sent out.