STATE OF NEW YORK
________________________________________________________________________
1635
2025-2026 Regular Sessions
IN SENATE
January 13, 2025
___________
Introduced by Sen. BORRELLO -- read twice and ordered printed, and when
printed to be committed to the Committee on Local Government
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
S. 1635 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.
