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Bill

S 5906

Relates to the exclusion of uncollectible taxes from the limitation on real estate taxes in New York city

2025 Regular Session Introduced by Andrew Lanza

Bill S 5906 allows New York City to exclude uncollectible taxes from real estate tax limits, helping property owners and municipalities manage tax increases effectively.

REFERRED TO CITIES 1
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WeVote Research Nonpartisan
Bill Summary · S 5906

Summary of Bill S 5906

Bill Information

  • Bill Number: S 5906
  • Title: Relates to the exclusion of uncollectible taxes from the limitation on real estate taxes in New York City
  • Status: Referred to Cities 1
  • Introduced: March 03, 2025
  • Classification: Bill

Purpose and Intent

Bill S 5906 aims to amend existing legislation concerning the limitation on real estate taxes in New York City by allowing for the exclusion of uncollectible taxes. The intent behind this bill is to provide financial relief to property owners and municipalities by ensuring that uncollectible tax amounts do not count against the cap on real estate tax increases.

Key Provisions

  • Exclusion of Uncollectible Taxes: The bill proposes that any taxes deemed uncollectible will be excluded from the calculation of the real estate tax limitation. This means that municipalities can raise real estate taxes without being penalized by the presence of uncollectible amounts.
  • Impact on Taxation: By excluding uncollectible taxes, the bill seeks to create a more accurate reflection of the taxable base, potentially allowing for more stable revenue generation for local governments.

Who Would Be Affected

  • Property Owners: Homeowners and property owners in New York City may benefit from this bill as it could lead to more manageable tax increases.
  • Municipal Governments: Local governments may find it easier to balance their budgets and maintain essential services without the burden of uncollectible taxes affecting their tax revenue limits.

Procedural Aspects

  • The bill was introduced on March 03, 2025, and has been referred to the Cities 1 committee for further consideration. The timeline for further legislative action will depend on the committee's review and subsequent votes.

Related Bills

This bill is part of a series of related legislative efforts, including:
- S 8004 (prior-session)
- S 6294 (prior-session)
- S 3274 (prior-session)
- S 4930 (prior-session)
- S 4209 (prior-session)

These related bills may provide context or additional frameworks regarding taxation and municipal finance in New York City.

Conclusion

Bill S 5906 represents a significant step towards addressing the challenges posed by uncollectible taxes in New York City's real estate tax system. By excluding these amounts from tax limitations, the bill aims to enhance fiscal stability for both property owners and local governments. Further developments will be monitored as the bill progresses through the legislative process.

Compiled from official sources — confirm details with the bill’s official record.

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