S T A T E   O F   N E W   Y O R K
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                                  5771

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              June 13, 2013
                               ___________

Introduced  by  Sen.  KLEIN  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Cities

AN ACT to amend the administrative code of the  city  of  New  York,  in
  relation  to requiring assessment-rolls to be published on the depart-
  ment of finance website

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

  Section  1. The administrative code of the city of New York is amended
by adding a new section 11-218.1 to read as follows:
  S 11-218.1 ASSESSMENT-ROLLS;  PUBLICATION.  A.  THE  COMMISSIONER   OF
FINANCE  SHALL PUBLISH THE ASSESSMENT-ROLLS ON THE DEPARTMENT OF FINANCE
WEBSITE IN SUCH A MANNER AS TO ALLOW VISITORS TO THE WEBSITE  TO  SEARCH
FOR INFORMATION CONTAINED WITHIN SUCH ASSESSMENT-ROLLS.
  B. THE COMMISSIONER OF FINANCE SHALL PUBLISH INFORMATION REGARDING HOW
A PROPERTY ASSESSMENT IS DERIVED ON THE DEPARTMENT OF FINANCE WEBSITE IN
A SEARCHABLE DATABASE.
  C.  THE  ASSESSMENT-ROLLS  AND ONLINE SEARCHABLE DATABASE PUBLISHED IN
ACCORDANCE WITH THIS SECTION SHALL, AT A MINIMUM, CONTAIN THE  FOLLOWING
INFORMATION:
  (1)  PROPERTY  INFORMATION,  INCLUDING  ADDRESS,  BLOCK,  LOT, AND TAX
CLASS;
  (2) A LIST OF THE COMPARABLE PROPERTIES THAT THE ASSESSORS  HAVE  USED
FOR ASSESSMENT FOR CLASS ONE AND TWO PROPERTIES;
  (3)  THE  BASE AND OVERALL CAPITALIZATION RATES FOR CLASS FOUR PROPER-
TIES;
  (4) THE FAIR MARKET VALUE;
  (5) THE TARGET ASSESSMENT RATIO;
  (6) THE ACTUAL ASSESSED VALUE, AS DETERMINED BY MULTIPLYING  THE  FAIR
MARKET VALUE BY THE TARGET ASSESSMENT RATIO;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10199-03-3

S. 5771                             2
              

  (7) WHETHER AN ASSESSMENT CAP OR TRANSITIONAL ASSESSMENT PROCESS IS IN
USE,  AND  THE PERCENTAGE OF SUCH CAP OR THE LENGTH OF TIME USED FOR THE
TRANSITION;
  (I) THE ASSESSED VALUE WITH THE CAP OR TRANSITION;
  (II) A LIST OF APPLICABLE EXEMPTIONS AND THE AMOUNT OF EACH EXEMPTION.
EACH EXEMPTION SHOULD BE LINKED TO A FULL DESCRIPTION OF THE EXEMPTION;
  (III) THE TAXABLE ASSESSED VALUE;
  (IV) THE NOMINAL TAX RATE;
  (V)  THE  BASE TAX LIABILITY, AS DETERMINED BY MULTIPLYING THE TAXABLE
ASSESSED VALUE BY THE NOMINAL TAX RATE;
  (VI) A LIST OF ABATEMENTS APPLIED AND THE AMOUNT  OF  EACH  ABATEMENT.
EACH ABATEMENT SHOULD BE LINKED TO A FULL DESCRIPTION OF THE ABATEMENT;
  (VII) THE FINAL TAX BILL; AND
  (VIII) THE EFFECTIVE TAX RATE, AS DETERMINED BY DIVIDING THE FINAL TAX
BILL BY THE FAIR MARKET VALUE.
  S  2.  This  act  shall  take effect on the two hundred seventieth day
after it shall have become a law.