Establishes the 13 member temporary state commission on New York city property tax reform to propose property tax reform for the city of New York that promotes fairness, clarity, and simplicity; that eliminates structural inequality and taxes similar properties similarly; that encourages the development and preservation of affordable and multifamily housing; that includes owner relief programs and an approach to transition that insures low- and moderate-income owners have affordable tax bills and that primary residents are not displaced from their homes; and that does not diminish revenue for the city of New York.
STATE OF NEW YORK
________________________________________________________________________
7061
2025-2026 Regular Sessions
IN ASSEMBLY
March 20, 2025
___________
Introduced by M. of A. BRAUNSTEIN -- read once and referred to the
Committee on Real Property Taxation
AN ACT to create a temporary state commission to be known as the tempo-
rary state commission on New York city property tax reform
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. a. A temporary state commission is hereby created to be
2 known as the temporary state commission on New York city property tax
3 reform. The temporary commission shall consist of thirteen members as
4 follows: the commissioner of taxation and finance and two additional
5 members appointed by the governor; two members appointed by the tempo-
6 rary president of the senate and one by the minority leader of the
7 senate, all of whom shall be members of the body; two members appointed
8 by the speaker of the assembly and one member by the minority leader of
9 the assembly, all of whom shall be members of the body; one member
10 appointed by the speaker of the New York city council; the commissioner
11 of the New York city department of finance; one member appointed by the
12 comptroller of the city of New York, and one member appointed by the
13 mayor of the city of New York. The commissioner of taxation and finance
14 shall serve as chair.
15 b. No member, officer or employee of the commission shall be disquali-
16 fied from holding any other public office or employment, nor shall lie
17 forfeit any such office or employment by reason of appointment here-
18 under, notwithstanding the provisions of any general, special or local
19 law, ordinance or city charter.
20 c. All appointments to the temporary commission shall be made within
21 fourteen days of the effective date of this act.
22 d. The members of the temporary commission shall receive no compen-
23 sation for their services, but shall be allowed their actual and neces-
24 sary expenses incurred in the performance of their duties hereunder.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD04038-01-5
A. 7061 2
1 § 2. a. The goal of the temporary commission shall be to propose prop-
2 erty tax reform for the city of New York that promotes fairness, clari-
3 ty, and simplicity; that eliminates structural inequality and taxes
4 similar properties similarly; that encourages the development and pres-
5 ervation of affordable and multifamily housing; that includes owner
6 relief programs and an approach to transition that insures low- and
7 moderate-income owners have affordable tax bills and that primary resi-
8 dents are not displaced from their homes; and that does not diminish
9 revenue for the city of New York.
10 b. The mayor of the city of New York shall, on or before August 31,
11 2025 present to the temporary commission a plan for reform of the New
12 York city property tax that advances the goal of the temporary commis-
13 sion. In preparing such plan, the mayor will be guided by the report and
14 proceedings of the New York City Advisory Commission on Property Tax
15 Reform and shall denote in such plan any deviations from the advisory
16 commission's recommendations as well as any other sources relied upon by
17 the mayor in preparation of the plan required by this subdivision.
18 c. Upon receipt and review of such plan, the temporary commission
19 shall make a report of recommendations for legislative action to the
20 governor and the legislature on or before December 31, 2025. Such recom-
21 mendations shall take the form of draft legislation that advances the
22 goals of subdivision a of this section and includes a mandatory cyclical
23 review of the property tax system.
24 § 3. This act shall take effect immediately.
