senate Bill S7269

Relates to computation of adjusted base proportions for tax assessment rolls

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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

  • 08 / May / 2014
    • REFERRED TO LOCAL GOVERNMENT
  • 03 / Jun / 2014
    • 1ST REPORT CAL.1167
  • 09 / Jun / 2014
    • 2ND REPORT CAL.
  • 10 / Jun / 2014
    • ADVANCED TO THIRD READING
  • 12 / Jun / 2014
    • SUBSTITUTED BY A9751

Summary

Relates to computation of adjusted base proportions for tax assessment rolls.

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Bill Details

See Assembly Version of this Bill:
A9751
Versions:
S7269
Legislative Cycle:
2013-2014
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง1903, RPT L

Votes

9
0
9
Aye
0
Nay
0
aye with reservations
0
absent
0
excused
0
abstained
show Local Government committee vote details

Sponsor Memo

BILL NUMBER:S7269

TITLE OF BILL: An act to amend the real property tax law, in relation
to adjusted base proportions for assessment rolls

PURPOSE: To enact legislation which limits the amount of a property
tax shift from one class of property to another for 2014-2015, due to
large fluctuations in property values between property classes for the
Town of Islip, which is the only approved assessing unit in the county
of Suffolk.

SUMMARY OF PROVISIONS: This bill amends subparagraph (iv) of paragraph
(a) of subdivision 3 of section 103 of the real property tax law by
extending for one year legislation which limits the amount of a
property tax shift between classes of properties caused by large
fluctuations in property values within classes.

JUSTIFICATION: In Suffolk County, there is a large differential in
property tax value increases between classes of property. This in turn
causes a large property tax increase in one class of property.
Presently, the amount of taxes which can be shifted from one class to
another is generally capped at five percent, but for the 2005-2006,
2006-2007, 2007-2008, 2008-2009, 2012-2013 and the 2013-2014 tax rolls
it was capped at 1 percent to protect against large property tax
shifts. This legislation will extend the authority to cap the property
tax shift at one percent for the 2014-2015 assessment roll. This will
create real property tax stability for another year for approved
assessing units within the County of Suffolk.

LEGISLATIVE HISTORY: New Legislation

FISCAL IMPLICATIONS: There are no costs to the state or localities.
This bill will allow for a more equitable distribution of real
property taxes between classes of property.

EFFECTIVE DATE: This act shall take effect immediately.

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

                                  7269

                            I N  S E N A T E

                               May 8, 2014
                               ___________

Introduced  by  Sen.  ZELDIN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the real property tax law, in relation to adjusted  base
  proportions for assessment rolls

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

  Section 1. Subparagraph (iv) of paragraph  (a)  of  subdivision  3  of
section  1903 of the real property tax law, as amended by chapter 281 of
the laws of 2013, is amended to read as follows:
  (iv) Notwithstanding any  other  provision  of  law,  in  an  approved
assessing unit in the county of Suffolk and for current base proportions
to  be  determined  by taxes based on such approved assessing unit's two
thousand three - two thousand four, two thousand  four  -  two  thousand
five  and  two  thousand  five  - two thousand six assessment rolls, the
current base proportion of any class shall not exceed the adjusted  base
proportion  or  adjusted  proportion,  whichever  is appropriate, of the
immediately preceding year by more than two percent, or in the  case  of
the  two thousand five--two thousand six, two thousand six--two thousand
seven, two thousand seven--two thousand eight, two  thousand  eight--two
thousand  nine,  two  thousand  twelve--two thousand thirteen, [and] two
thousand thirteen--two thousand fourteen, AND TWO THOUSAND FOURTEEN--TWO
THOUSAND FIFTEEN assessment rolls, one percent.   Where the  computation
of  current  base  proportions  would otherwise produce such result, the
current base proportion of such class or classes  shall  be  limited  to
such  two  percent  or one percent increase whichever is applicable, and
the legislative body of such approved assessing  unit  shall  alter  the
current  base  proportion of either class so that the sum of the current
base proportions equals one.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14894-01-4

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