New York A 4419: Relates to the formula for the real property tax cap

Bill Text

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A04419 Summary:

BILL NOA04419 

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SAME ASSAME AS S01635

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SPONSORMolitor

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COSPNSR

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MLTSPNSR

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Amd §3-c, Gen Muni L; amd §2023-a, Ed L

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Relates to the formula for the real property tax cap.

Go to top A04419 Actions:

BILL NOA04419 

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02/04/2025referred to local governments

01/07/2026referred to local governments

Go to topA04419 Committee&nbspVotes:

Go to topA04419 Floor&nbspVotes:

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

Go to topA04419 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4419

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 4, 2025
 ___________

 Introduced by M. of A. MOLITOR -- read once and referred to the Commit-
 tee on Local Governments

 AN ACT to amend the general municipal law and the education law, in
 relation to the formula for the real property tax cap

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

 1 Section 1. Paragraph (c) of subdivision 3 of section 3-c of the gener-
 2 al municipal law, as added by section 1 of part A of chapter 97 of the
 3 laws of 2011, is amended to read as follows:
 4 (c) Each local government shall calculate the tax levy limit applica-
 5 ble to the coming fiscal year which shall be determined as follows:
 6 (i) Ascertain the highest total amount of taxes levied for a fiscal
 7 year for the prior five fiscal [year] years.
 8 (ii) Multiply the result by the tax base growth factor, calculated
 9 pursuant to paragraph (b) of this subdivision, if any.
 10 (iii) Add any payments in lieu of taxes that were receivable in the
 11 prior fiscal year.
 12 (iv) Subtract the tax levy necessary to support expenditures pursuant
 13 to subparagraph (i) of paragraph (g) of subdivision two of this section
 14 for the prior fiscal year, if any.
 15 (v) Multiply the result by the allowable levy growth factor.
 16 (vi) Subtract any payments in lieu of taxes receivable in the coming
 17 fiscal year.
 18 (vii) Add the available carryover, if any.
 19 § 2. Paragraph a of subdivision 3 of section 2023-a of the education
 20 law, as added by section 2 of part A of chapter 97 of the laws of 2011,
 21 is amended to read as follows:
 22 a. Each school district shall calculate the tax levy limit for each
 23 school year which shall be determined as follows:
 24 (1) Ascertain the highest total amount of taxes levied for a school
 25 year for the prior five school [year] years.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04931-01-5

 A. 4419 2

 1 (2) Multiply the result by the tax base growth factor, if any.
 2 (3) Add any payments in lieu of taxes that were receivable in the
 3 prior school year.
 4 (4) Subtract the tax levy necessary to support the expenditures pursu-
 5 ant to subparagraphs (i) and (iv) of paragraph i of subdivision two of
 6 this section for the prior school year, if any.
 7 (5) Multiply the result by the allowable levy growth factor.
 8 (6) Subtract any payments in lieu of taxes receivable in the coming
 9 fiscal year.
 10 (7) Add the available carryover, if any.
 11 § 3. This act shall take effect immediately.

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