New York S 9416: Relates to increasing the number of units subject to an assessment cap

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S09416 Summary:

BILL NOS09416 

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SAME ASNo Same As

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SPONSORCHAN

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COSPNSR

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MLTSPNSR

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Amd §1805, RPT L

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Relates to increasing the number of units subject to an assessment cap; provides that the assessment roll of a special assessing unit wholly contained within a city shall identify those parcels classified in class two which have fewer than thirty-five residential units.

Go to top S09416 Actions:

BILL NOS09416 

&nbsp

03/10/2026REFERRED TO LOCAL GOVERNMENT

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There are no Assembly votes for this bill in this legislative session.

Go to topS09416 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9416

 IN SENATE

 March 10, 2026
 ___________

 Introduced by Sen. CHAN -- read twice and ordered printed, and when
 printed to be committed to the Committee on Local Government

 AN ACT to amend the real property tax law, in relation to increasing the
 number of units subject to an assessment cap

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The opening paragraph of subdivision 2 of section 1805 of
 2 the real property tax law, as amended by chapter 586 of the laws of
 3 1992, is amended to read as follows:
 4 The assessment roll of a special assessing unit wholly contained with-
 5 in a city shall identify those parcels classified in class two which
 6 have fewer than [eleven] thirty-five residential units. The assessor of
 7 any such special assessing unit shall not increase the assessment of any
 8 parcel so identified in any one year, as measured from the actual
 9 assessment on the previous year's assessment roll, by more than eight
 10 percent and shall not increase such assessment by more than thirty
 11 percent in any five-year period. The first such five-year period shall
 12 be measured from the individual assessment appearing on the assessment
 13 roll completed in nineteen hundred eighty-one provided that, if such
 14 parcel would not have been subject to the provisions of this subdivision
 15 in nineteen hundred eighty-one had this subdivision then been in effect,
 16 the first such five-year period shall be measured from the first year
 17 after nineteen hundred eighty-one in which this subdivision applied to
 18 such parcel or would have applied to such parcel had this subdivision
 19 been in effect in such year.
 20 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14957-01-6

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