NY State Senate Bill 2021-S4487

Senate Bill S4487

2021-2022 Legislative Session

Provides 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

download bill text pdf

Archive: Last Bill Status - In Senate Committee Local Government Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to local government
Feb 05, 2021	referred to local government

2021-S4487 (ACTIVE) - Details

See Assembly Version of this Bill:: A275
Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Amd §1306-a, RPT L
Versions Introduced in Other Legislative Sessions:: 2019-2020: A8836
2023-2024: S2101, A1383

2021-S4487 (ACTIVE) - Summary

Provides 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.

2021-S4487 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S4487

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 one of the bill amends section 1306-a of the real property law
as it relates to establishing a floor for the STAR tax savings. This
will ensure that the STAR savings does not decrease less than the previ-
ous year's savings.

Section two of the bill relates to 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:

A8836 of 2020

 
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
on which it shall have become a law and shall apply to all assessments
occurring on and after such date.

2021-S4487 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4487
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 5, 2021
                                ___________
 
 Introduced  by Sen. HARCKHAM -- 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 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
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subparagraph  (i)  of  paragraph  (a) of subdivision 2 of
 section 1306-a of the real property tax law, as amended by section 1  of
 part  LL  of  chapter  59  of  the  laws  of 2019, is amended to read as
 follows:
   (i) The tax savings for each parcel receiving the exemption authorized
 by section four hundred twenty-five of this chapter shall be computed by
 subtracting the amount actually  levied  against  the  parcel  from  the
 amount  that  would  have been levied if not for the exemption, provided
 however, that for the two thousand eleven-two  thousand  twelve  through
 two  thousand  eighteen-two  thousand  nineteen  school  years,  the tax
 savings applicable to any "portion" (which as  used  herein  shall  mean
 that  part  of an assessing unit located within a school district) shall
 not exceed the tax savings applicable  to  that  portion  in  the  prior
 school  year  multiplied  by  one  hundred  two percent, with the result
 rounded to the nearest dollar; and provided further that beginning  with
 the  two  thousand  nineteen-two  thousand  twenty  school year: (A) for
 purposes of the exemption authorized by section four hundred twenty-five
 of this chapter, the tax savings applicable to any  portion  shall  [not
 exceed]  EQUAL  the tax savings for the prior year, and (B) for purposes
 of the credit authorized by subsection (eee) of section six hundred  six
 of  the  tax  law,  the  tax savings applicable to any portion shall not
 exceed the tax savings applicable to that portion in  the  prior  school
 year  multiplied  by one hundred two percent, with the result rounded to
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD04205-01-1

 S. 4487                             2
 
 the nearest dollar NOR SHALL THE TAX SAVINGS APPLICABLE TO THAT  PORTION
 BE LESS THAN THE TAX SAVINGS FOR THE PRIOR YEAR. The tax savings attrib-
 utable  to  the  basic and enhanced exemptions shall be calculated sepa-
 rately.  It shall be the responsibility of the commissioner to calculate
 tax savings limitations for purposes of this subdivision.
   § 2. 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.

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