Directing the state board of real property tax services to conduct a study on real property tax saturation

This bill directs New York's State Board of Real Property Tax Services to study how high rates of tax-exempt property (like parks, nonprofits, or government buildings) impact local communities. The study must examine the percentage of tax-exempt property in each county, focusing on counties with the highest rates, and analyze effects on housing, small businesses, jobs, population, and park land over five years. It also requires the board to propose policy changes to reduce tax burdens on taxable properties and ensure fairer tax distribution. The board must submit a report to state leaders within one year, and the bill expires after two years or once the report is delivered.