A bill that extends limitations on the shift between classes of taxable property in the town of Clarkstown, county of Rockland for an additional year was signed by Governor Hochul.  This bill would limit shifts between homestead and non-homestead property classes of no more than one percent per year

Section one of the bill amends section 1903 of the real property tax law as it relates to limiting the shift between classes of taxable property to one percent in the Town of Clarkstown.
 
Section two of the bill relates to the effective date. JUSTIFICATION:
Municipalities that have classes of taxable property(homestead/nonhomestead) are often faced with drastic fluctu-
ations in shifts between the two classes of taxable property.  Current law limits those shifts at 5% but this bill would restrict the shift in the Town of Clarkstown to no more than 1%; creating stability in the tax base from year to year. Similar legislation was proposed and implemented last year, this act will extend the limitation on the shift between
classes of taxable property to one percent in the Town of Clarkstown for another year. 

Click here for the bill text.