Relates to the establishment of state equalization rates for the Farmingdale union free school district and the Amityville union free school districts

◆ The sponsor's argument

Why Monica Martinez says this is needed

Residents in parts of the Farmingdale and Amityville Union Free School Districts, located within the Town of Babylon, have faced significant increases in property taxes due to recent changes in equalization rates set by New York State. While Nassau County's equalization rate remained stable, the Town of Babylon's rate was lowered, resulting in a disproportionate shift of school tax levies onto Babylon residents. It's noteworthy that the Town of Babylon covers a substantial portion of Suffolk County and a smaller segment of Nassau County. Here's a closer look at the financial impact: In the Farmingdale School District, Babylon residents faced a collective increase of approximately $5 million in school taxes, while Nassau County residents saw a corre- sponding decrease of around $1 million. Similarly, in the Amityville School District, Babylon residents experienced a collective increase of approximately $3 million, with Nassau County residents benefiting from a decrease in their tax burden. This situation leaves local jurisdictions without the authority to alle- viate the issue since it falls under state jurisdiction. Between 2023 and 2024, the Town of Babylon's fair market value rose significantly-ap- proximately $300 million-resulting in a tax shift from 22% to 25% of the total levy. In stark contrast, Nassau County's equalization rate remained virtually unchanged during this same period, exacerbating the tax burden on Babylon residents. While tax fluctuations are historically common, the magnitude of this shift is unprecedented in recent memory. The resulting uproar among constituents in District 11 underscores the urgency of addressing this matter. The purpose of this proposed bill is straightforward: to lower property taxes for Town of Babylon residents to align with those of the Town of Oyster Bay in Nassau County for the next two years. This will provide the state with necessary time to evaluate and estab- lish a fair and equitable equalization rate for both townships. By taking this action, we can ensure that residents are not unjustly burdened while a comprehensive assessment is conducted, ultimately fostering a fairer taxation system for all.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.