senate Bill S5772

Requires assessment disclosure notices in New York city to include a description of the method of assessment

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 13 / Jun / 2013
    • REFERRED TO CITIES
  • 20 / Jun / 2013
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 20 / Jun / 2013
    • ORDERED TO THIRD READING CAL.1510
  • 20 / Jun / 2013
    • SUBSTITUTED BY A7314A

Summary

Requires assessment disclosure notices in New York City to include a description of the method of assessment.

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Bill Details

See Assembly Version of this Bill:
A7314A
Versions:
S5772
Legislative Cycle:
2013-2014
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง511, RPT L

Sponsor Memo

BILL NUMBER:S5772

TITLE OF BILL: An act to amend the real property tax law, in relation
to requiring assessment disclosure notices in New York city to include
a description of the method of assessment

PURPOSE OR GENERAL IDEA OF BILL: To ensure that all New York City
residents are notified of the method used to assess their property.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1 amends subdivision 2 of section 511 of the real property tax
law by adding new paragraph (c) which will require a description of
how a property assessment was performed, including the details of any
Properties used as comparatives.

Section 2 amends subdivision 9 of 511 of the real property tax law by
amending by part x of chapter 56 of the laws of 2010 to determine that
any special assessing unit that is not a city shall be in compliance
with the Provisions.

Section 3 contains the effective date.

JUSTIFICATION: Assessment procedures for real property are both
complicated and opaque. Providing a more detailed Notice of Property
Value from the Department of Finance to New York City homeowners will
give them access to the information they need .to determine whether
their property has been assessed fairly.

PRIOR LEGISLATIVE HISTORY: New legislation.

FISCAL IMPLICATIONS: None.

EFFECTIVE DATE: This act shall take effect July 1, 2014.

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

                                  5772

                       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 real property tax  law,  in  relation  to  requiring
  assessment   disclosure   notices  in  New  York  city  to  include  a
  description of the method of assessment

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

  Section  1.  Subdivision 2 of section 511 of the real property tax law
is amended by adding a new paragraph (c) to read as follows:
  (C) ASSESSMENT DISCLOSURE NOTIFICATION REQUIREMENTS; CERTAIN ASSESSING
UNITS. IN A SPECIAL ASSESSING UNIT THAT IS A CITY, AN ASSESSMENT DISCLO-
SURE NOTICE SHALL CONTAIN THE FOLLOWING:
  (I) PROPERTY IDENTIFICATION INFORMATION, INCLUDING ADDRESS, BLOCK, LOT
AND TAX CLASS;
  (II) FOR CLASS TWO PROPERTIES, A LIST  OF  THE  COMPARABLE  PROPERTIES
USED TO VALUE THE PROPERTIES;
  (III) THE MARKET VALUE OF THE PROPERTY;
  (IV) THE APPLICABLE ASSESSMENT RATIO;
  (V)  THE ACTUAL ASSESSED VALUE AS DETERMINED BY MULTIPLYING THE MARKET
VALUE BY THE ASSESSMENT RATIO;
  (VI) IF AN ASSESSMENT CAP OR A TRANSITIONAL ASSESSMENT PROCESS  IS  IN
USE, THE CAPPED OR TRANSITIONAL ASSESSMENT AND A DESCRIPTION OF SUCH CAP
OR  TRANSITIONAL ASSESSMENT INCLUDING THE PERCENTAGES AND LENGTH OF TIME
USED IN THEIR CALCULATION;
  (VII) A LIST OF APPLICABLE EXEMPTIONS, A DESCRIPTION OF EACH EXEMPTION
AND THE AMOUNT OF EACH EXEMPTION.
  S 2. Subdivision 9 of section 511 of the real  property  tax  law,  as
added  by  section  2  of  part  X of chapter 56 of the laws of 2010, is
amended to read as follows:
  9. A special assessing unit THAT IS NOT A CITY shall be deemed  to  be
in compliance with the provisions of this section if it provides assess-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10331-05-3

S. 5772                             2

ment  disclosure  notices  to  property  owners in an alternative manner
which includes, at a minimum, their tentative  assessments,  the  market
values  upon  which they were based, and the applicable level of assess-
ment.
  S 3. This act shall take effect July 1, 2014.

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