Local law · Int 0042-2024
Imposing a limit upon the real property tax levy
Official titleShow
A Local Law in relation to imposing a limit upon the real property tax levy
The heading above is this same sentence with its legal opening removed. No words were added, changed or reordered.
New York City Council
Sponsor
Robert F. Holden
Summary
This local law would prohibit the City Council from adopting a budget for the ensuing fiscal year that would require a property tax levy to be generated that is either two percent or the rate of inflation larger, whichever is less, than the prior year’s property tax levy. The Council may authorize the passage of a budget with a larger-than-authorized levy, it is passes a resolution with a two-thirds majority stating the reasons why the exception for the ensuing fiscal year is needed.
Summary from NYC Council (Legistar). How we handle summaries
From the NYC Council's legislative record (Legistar) and official rosters. This record was last updated Sep 7, 2026. About our data
Following needs an Agora account. You will sign in first, then come back to this page.
Your position on this bill
Choose the position closest to yours. You'll sign in or create an account to save it.
Where it stands
The session ended before it was voted on. It was not defeated; it simply ran out of time, which is what happens to most legislation. It would have to be reintroduced.
- Introduced
- In committee
- Up for a vote
- Passed one chamber
- Passed
- Enacted
Committee
Committee on Finance
Cosponsors
Joann Ariola, Vickie Paladino and 1 other
Cosponsors in the order the New York City Council lists them.
- Republican3
Shown in neutral colors by design; Agora is non-partisan.
Full history
- Dec 31, 2025
Filed
This Introduction was Filed (End of Session)
NYC Council
- Feb 8, 2024
Introduced
This Introduction was Introduced by Council
NYC Council
- Feb 8, 2024
Referred to committee
This Introduction was Referred to Comm by Council to the Committee on Finance
NYC Council