Establishes a real property tax freeze credit

Summary

The bill adds a new credit to New York’s real‑property tax law for eligible homeowners whose primary residence is in a county, town, village, school district or special district that adopts a “freeze‑compliant” budget for fiscal years 2026‑2028. The credit reduces the tax bill by the greater of the actual tax increase or a calculated amount based on an allowable levy growth factor. It is intended to protect taxpayers from rising property taxes when local budgets are constrained.

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