BILL NUMBER: S2101
SPONSOR: HARCKHAM
 
TITLE OF BILL:
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
 
PURPOSE OR GENERAL IDEA OF THE BILL:
This bill will establish a floor for the STAR real property tax savings.
 
SUMMARY OF PROVISIONS:
Section 1 I amends section 1306-a of the real property law establishing
a floor for the STAR tax savings. This will ensure that the STAR savings
does not decrease less than the previous year's savings.
Section 2 states the effective date.
 
JUSTIFICATION:
The STAR program provides critically important tax relief to thousands
of homeowners who rely on the savings each year. It is the most success-
ful and effective tax relief program in New York State. Over the years,
there have been several changes to the STAR program including a
provision that limits the growth of STAR savings to no more than 2% per
year for homeowners that receive a STAR check and 0% for homeowners who
have a deduction directly off their tax bill.
Currently, the STAR savings is calculated based upon a formula and can
fluctuate based on a variety of factors from year to year. As a result
of the 2% and 0% growth cap, a STAR savings can decrease by any amount
via the formula but future growth is limited. This will cause a long
term downward valuation trajectory of the STAR savings amount. This bill
will protect taxpayers by ensuring that the STAR savings for each home-
owner does not decrease less than the previous year's amount.
 
LEGISLATIVE HISTORY:
2021-2022: S4487/A275 - Died in Local Government/Died in Real Property
Taxation
2019-2020: A8836
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
To be determined.
 
EFFECTIVE DATE:
This act shall take effect on the first of July next succeeding the date
upon which it shall have become a law and shall apply to all assessments
occurring on and after such date

Statutes affected:
S2101: 1306-a real property tax law, 1306-a(2) real property tax law