New York Governor Signs Property Tax Law Amending Base Proportions in Nassau County

The New York Governor Sept. 22 signed a law allowing approved assessing units and special assessing units in Nassau County to adjust their current base proportions for property tax purposes. The law includes measures: 1) providing that in approved and special assessing units in Nassau county, that aren’t cities, the current base proportion for any class can’t exceed last year’s proportion by more than 1 percent; 2) extending the limitation on property tax shifts between homestead and non-homestead properties due to value fluctuations in designated classes within Suffolk County for a year; and 3) providing that Section 1 of the ...