New York caps property tax base proportion increases at 5% for special assessing cities in fiscal year 2027

Original title: Relates to the determination of adjusted base proportions in special assessing units which are cities

Last action · September 25, 2026: SIGNED CHAP.302Sponsor: David Weprin

Companion · S 10273same policy, Senate version

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What This Bill Does

New York limits the annual percentage increase of s for real property tax classes in cities to a maximum of 5% for 2027. The local legislative body must determine this percentage increase by December 1, 2026. If tax bills were already sent before enactment, the city must revise the proportions, reset tax rates, and issue amended bills.

Why it matters

Property owners in eligible special assessing cities face a capped 5% restriction on year-over-year increases to their class tax base proportions for the 2027 , altering how local tax burdens shift across property classes.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

real property owners

Property owners experience capped annual adjustments to their property class tax base proportions for fiscal year 2027 and may receive amended tax bills.

Directly affected

local legislative bodies

Local legislative bodies must determine and set the percent increase for class base proportions by December 1, 2026.

Key Facts

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Frequently Asked Questions

What is the maximum allowable increase for property tax base proportions in 2027?

The percent increase of the of any class over the of the immediately preceding year shall be no more than 5%.

What happens if the city already issued property tax bills for fiscal year 2027 before this law passed?

The city is required to take necessary actions to effectuate the act, which includes revising base proportions, resetting real property tax rates, and sending amended real property tax bills.

By what date must the local legislative body make its determination?

The local legislative body must make its determination by December 1, 2026.

What else do you want to know?

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Where This Stands

Current status: Signed into law.

Procedural history

15 actions

Sep 25, 2026HouseEnrolled
SIGNED CHAP.302
Sep 22, 2026HouseEnrolled
DELIVERED TO GOVERNOR
Jun 4, 2026Senate
RETURNED TO ASSEMBLY
Jun 4, 2026SenateFloor
PASSED SENATE
Jun 4, 2026Senate
3RD READING CAL.1433
Jun 4, 2026Senate
SUBSTITUTED FOR S10273

Show 9 earlier actions

May 29, 2026SenateCommittee
REFERRED TO RULES
May 29, 2026House
DELIVERED TO SENATE
May 29, 2026HouseFloor
PASSED ASSEMBLY
May 28, 2026House
ORDERED TO THIRD READING RULES CAL.248
May 28, 2026House
RULES REPORT CAL.248
May 28, 2026House
REPORTED
May 28, 2026HouseCommittee
REPORTED REFERRED TO RULES
May 19, 2026HouseCommittee
REPORTED REFERRED TO WAYS AND MEANS
May 1, 2026HouseCommittee
REFERRED TO REAL PROPERTY TAXATION

Version history

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