BILL NUMBER: S9059
SPONSOR: WEBER
 
TITLE OF BILL:
An act to amend the real property tax law, in relation to limiting the
shift between classes of taxable property in the town of Haverstraw,
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 Haverstraw in Rockland County.
Section 2: Provides an effective date.
 
JUSTIFICATION:
Municipalities with classes of taxable property (homestead/nonhomestead)
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 Haverstraw 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 Haverstraw for another
year.
 
LEGISLATIVE HISTORY:
None.
 
FISCAL IMPLICATIONS:
New Bill
 
EFFECTIVE DATE:

Statutes affected:
S9059: 1903 real property tax law, 1903(3) real property tax law