Provides that the amount of a STAR real property tax savings may not be less than the amount of the STAR real property tax savings from the previous year.
STATE OF NEW YORK
________________________________________________________________________
1383
2023-2024 Regular Sessions
IN ASSEMBLY
January 17, 2023
___________
Introduced by M. of A. ZEBROWSKI, PAULIN, BUTTENSCHON, SAYEGH, HYNDMAN,
LAVINE, JONES, SIMON, WOERNER, STERN -- read once and referred to the
Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to providing that
the amount of a STAR real property tax savings may not be less than
the amount of the STAR real property tax savings from the previous
year
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subparagraph (i) of paragraph (a) of subdivision 2 of
2 section 1306-a of the real property tax law, as amended by section 1 of
3 part LL of chapter 59 of the laws of 2019, is amended to read as
4 follows:
5 (i) The tax savings for each parcel receiving the exemption authorized
6 by section four hundred twenty-five of this chapter shall be computed by
7 subtracting the amount actually levied against the parcel from the
8 amount that would have been levied if not for the exemption, provided
9 however, that for the two thousand eleven-two thousand twelve through
10 two thousand eighteen-two thousand nineteen school years, the tax
11 savings applicable to any "portion" (which as used herein shall mean
12 that part of an assessing unit located within a school district) shall
13 not exceed the tax savings applicable to that portion in the prior
14 school year multiplied by one hundred two percent, with the result
15 rounded to the nearest dollar; and provided further that beginning with
16 the two thousand nineteen-two thousand twenty school year: (A) for
17 purposes of the exemption authorized by section four hundred twenty-five
18 of this chapter, the tax savings applicable to any portion shall [not
19 exceed] equal the tax savings for the prior year, and (B) for purposes
20 of the credit authorized by subsection (eee) of section six hundred six
21 of the tax law, the tax savings applicable to any portion shall not
22 exceed the tax savings applicable to that portion in the prior school
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00957-01-3
A. 1383 2
1 year multiplied by one hundred two percent, with the result rounded to
2 the nearest dollar nor shall the tax savings applicable to that portion
3 be less than the tax savings for the prior year. The tax savings attrib-
4 utable to the basic and enhanced exemptions shall be calculated sepa-
5 rately. It shall be the responsibility of the commissioner to calculate
6 tax savings limitations for purposes of this subdivision.
7 § 2. This act shall take effect on the first of July next succeeding
8 the date upon which it shall have become a law and shall apply to all
9 assessments occurring on and after such date.
