Assembly Bill A10466

2011-2012 Legislative Session

Exempts costs associated with revaluations or reassessments from the tax levy limit on real property

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A10466 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
General Municipal Law
Laws Affected:
Amd §3-c, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2013-2014: A1235
2015-2016: A638
2017-2018: A1248
2019-2020: A1716
2021-2022: A5066

2011-A10466 (ACTIVE) - Summary

Exempts cost associated with revaluations or reassessments from the tax levy limit on real property.

2011-A10466 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10466

                          I N  A S S E M B L Y

                              May 29, 2012
                               ___________

Introduced by M. of A. ABINANTI -- read once and referred to the Commit-
  tee on Real Property Taxation

AN  ACT to amend the general municipal law, in relation to exempting the
  costs associated with real property revaluation  or  reassessment  for
  the tax levy limit

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subparagraph (iv) of paragraph  (g)  of  subdivision  2  of
section  3-c of the general municipal law, as added by section 1 of part
A of chapter 97 of the laws of 2011, is amended and a  new  subparagraph
(v) is added to read as follows:
  (iv)  in  years  in which the normal contribution rate of the New York
state teachers' retirement system, as defined by paragraph a of subdivi-
sion two of  section  five  hundred  seventeen  of  the  education  law,
increases  by  more than two percentage points from the previous year, a
tax levy necessary for expenditures for the coming fiscal year for local
government employer  contributions  to  the  New  York  state  teachers'
retirement system caused by growth in the normal contribution rate minus
two percentage points[.];
  (V)  ALL COSTS ASSOCIATED WITH REAL PROPERTY REVALUATIONS OR REASSESS-
MENTS.
  S 2. Paragraph (a) of subdivision 3 of  section  3-c  of  the  general
municipal law, as added by section 1 of part A of chapter 97 of the laws
of 2011, is amended to read as follows:
  (a)  Subject  to  the  provisions of subdivision five of this section,
beginning with the fiscal year that begins in two  thousand  twelve,  no
local  government  shall adopt a budget that requires a tax levy that is
greater than the tax levy limit for the  coming  fiscal  year.  Provided
however  the  tax  levy  limit  shall  not  prohibit a levy necessary to
support the expenditures pursuant to subparagraphs  (i)  through  [(iv)]
(V) of paragraph (g) of subdivision two of this section.
  S  3.  Subdivision  5  of section 3-c of the general municipal law, as
added by section 1 of part A of chapter 97  of  the  laws  of  2011,  is
amended to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

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