BILL NUMBER: S5220
SPONSOR: WEBER
 
TITLE OF BILL:
An act to amend the real property tax law, in relation to extending
limitations on the shift between classes of taxable property in the town
of Clarkstown, county of Rockland
 
PURPOSE:
This bill would limit shifts between homestead and non-homestead proper-
ty classes of no more than one percent per year.
 
SUMMARY OF PROVISIONS:
SECTION 1: AMENDS SECTION 1903 OF THE REAL PROPERTY TAX LAW AS IT
RELATES TO LIMITING THE SHIFT BETWEEN CLASSES OF TAXABLE PROPERTY TO ONE
PERCENT IN THE TOWN OF CLARKSTOWN IN ROCKLAND COUNTY.
SECTION 2: PROVIDES THE EFFECTIVE DATE.
 
JUSTIFICATION:
MUNICIPALITIES WITH CLASSES OF TAXABLE PROPERTY (HORNESTEAD/NON-
HOMESTEAD) OFTEN FACE DRASTIC FLUCTUATIONS IN SHIFTS BETWEEN THE TWO
CLASSES OF TAXABLE PROPERTY. CURRENT LAW LIMITS THOSE SHIFTS AT FIVE
PERCENT BUT THIS BILL WOULD RESTRICT THE SHIFT IN THE TOWN OF CLARKSTOWN
TO NO MORE THAN ONE PERCENT TO CREATE STABILITY IN THE TAX BASE FROM
YEAR TO YEAR. SIMILAR LEGISLATION WAS PROPOSED AND IMPLEMENTED IN PRIOR
YEARS AND THIS ACT WILL EXTEND THE LIMITATION IN THE TOWN OF CLARKSTOWN
FOR ANOTHER YEAR
 
EFFECTIVE DATE:
THIS ACT SHALL TAKE EFFECT IMMEDIATELY.

Statutes affected:
S5220: 1903 real property tax law, 1903(3) real property tax law