Establishment of a commission to study and recommend reforms to the city’s property tax system.

A Local Law in relation to the establishment of a commission to study and recommend reforms to the city’s property tax system

This local law would mandate the establishment of a property tax reform commission on January 1, 2030 and every fifteen years thereafter. The members of each commission would be appointed jointly by the Mayor and the Speaker. Each commission would analyze and evaluate the City’s real property tax system existing at the time of the commission and propose reforms, where necessary. Each commission would be required to issue a report to the Mayor and the Speaker and would dissolve upon the issuance of such report.