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Senate Bill S9416

2025-2026 Legislative Session

Relates to increasing the number of units subject to an assessment cap

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Sponsored By

Current Bill Status - In Senate Committee Local Government Committee

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2025-S9416 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1805, RPT L

2025-S9416 (ACTIVE) - Summary

Relates to increasing the number of units subject to an assessment cap; provides that the assessment roll of a special assessing unit wholly contained within a city shall identify those parcels classified in class two which have fewer than thirty-five residential units.

2025-S9416 (ACTIVE) - Sponsor Memo

2025-S9416 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9416
 
                             I N  S E N A T E
 
                              March 10, 2026
                                ___________
 
 Introduced  by  Sen.  CHAN  --  read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the real property tax law, in relation to increasing the
   number of units subject to an assessment cap
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  The opening paragraph of subdivision 2 of section 1805 of
 the real property tax law, as amended by chapter  586  of  the  laws  of
 1992, is amended to read as follows:
   The assessment roll of a special assessing unit wholly contained with-
 in  a  city  shall  identify those parcels classified in class two which
 have fewer than [eleven] THIRTY-FIVE residential units. The assessor  of
 any such special assessing unit shall not increase the assessment of any
 parcel  so  identified  in  any  one  year,  as measured from the actual
 assessment on the previous year's assessment roll, by  more  than  eight
 percent  and  shall  not  increase  such  assessment by more than thirty
 percent in any five-year period. The first such five-year  period  shall
 be  measured  from the individual assessment appearing on the assessment
 roll completed in nineteen hundred eighty-one  provided  that,  if  such
 parcel would not have been subject to the provisions of this subdivision
 in nineteen hundred eighty-one had this subdivision then been in effect,
 the  first  such  five-year period shall be measured from the first year
 after nineteen hundred eighty-one in which this subdivision  applied  to
 such  parcel  or  would have applied to such parcel had this subdivision
 been in effect in such year.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14957-01-6

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