New York Amends Certain Maximum Class Growth Rate Property Tax Cap

The New York Governor signed a law concerning real property taxation and determining the adjusted base proportions in special assessing units which are cities. The law includes amending the real property tax law to allow a local legislative body to amend the cap on the maximum class growth rate provided it does not exceed 5 percent for fiscal year 2026. The law took effect on Oct. 27. [S. 7980, enacted 10/27/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.