Senate Bill S7719

2013-2014 Legislative Session

Requires real property in New York City to be assessed using a fair comparative

download bill text pdf

Sponsored By

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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2013-S7719 (ACTIVE) - Details

See Assembly Version of this Bill:
A7326
Current Committee:
Assembly Ways And Means
Law Section:
Real Property Tax Law
Laws Affected:
Amd §581, RPT L
Versions Introduced in Other Legislative Sessions:
2015-2016: A2053
2017-2018: A4270
2019-2020: A1711
2021-2022: A1268

2013-S7719 (ACTIVE) - Summary

Requires real property in New York City to be assessed using a fair comparative.

2013-S7719 (ACTIVE) - Sponsor Memo

2013-S7719 (ACTIVE) - Bill Text download pdf 

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

                                  7719

                            I N  S E N A T E

                              June 2, 2014
                               ___________

Introduced  by  Sen.  KLEIN  -- 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 requiring real
  property to be assessed using a fair comparative

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

  Section  1.  Paragraph (a) of subdivision 1 of section 581 of the real
property tax law, as amended by chapter 223 of  the  laws  of  1989,  is
amended to read as follows:
  (a) Notwithstanding any other provision of law, real property owned or
leased  by  a cooperative corporation or on a condominium basis shall be
assessed for purposes of this chapter at a sum not exceeding the assess-
ment which would be placed upon such parcel were the parcel not owned or
leased by a cooperative corporation or on  a  condominium  basis.  IN  A
SPECIAL  ASSESSING UNIT THAT IS A CITY, NOTHING IN THIS SECTION SHALL BE
CONSTRUED TO REQUIRE THE USE OF RENT-REGULATED PROPERTIES AS  COMPARISON
PROPERTIES  FOR  ASSESSMENT  PURPOSES. FOR THE PURPOSE OF THIS PARAGRAPH
ONLY, THE TERM "RENT-REGULATED PROPERTIES" SHALL MEAN  HOUSING  ACCOMMO-
DATIONS  WHICH ARE SUBJECT TO THE REGULATIONS AND CONTROL OF RESIDENTIAL
RENTS AND EVICTIONS PURSUANT TO THE EMERGENCY HOUSING RENT CONTROL  LAW,
THE  LOCAL  EMERGENCY  HOUSING  RENT  CONTROL  ACT, THE EMERGENCY TENANT
PROTECTION ACT OF NINETEEN SEVENTY-FOUR, THE  NEW  YORK  CITY  RENT  AND
REHABILITATION  LAW OR THE NEW YORK CITY RENT STABILIZATION LAW OF NINE-
TEEN HUNDRED SIXTY-NINE. FOR THE PURPOSE OF  THIS  PARAGRAPH  ONLY,  THE
TERM  "COMPARISON PROPERTIES" SHALL MEAN ANY REAL PROPERTY CONSIDERED BY
AN ASSESSOR TO BE SUFFICIENTLY SIMILAR  TO  A  SUBJECT  PROPERTY  TO  BE
COMPARED TO IT TO DETERMINE THE SUBJECT PROPERTY'S ASSESSMENT.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10198-06-4

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