This resolution amends and restates the City's computation and certification of base percentages, current percentages, and current base proportions of each class of real property for Fiscal 2025. It follows recent changes to Section 1803-a of the Real Property Tax Law, adjusting the percentage increase cap on current base proportions to 0.9%, down from 5%, and complies with the requirement to certify calculations for tax distribution among property classes.
Ensures equitable property taxation adjustments for the Fiscal 2025 assessment rolls, reflecting market value changes and legal mandates to maintain tax fairness and compliance with state laws.