Senate Bill S1408

2017-2018 Legislative Session

Relates to classifying properties held in condominium and cooperative form for assessment purposes as class one-a properties; repealer

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Local Government 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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2017-S1408 (ACTIVE) - Details

See Assembly Version of this Bill:
A7475
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Rpld §581, amd RPT L, generally; amd §§11-208.1, 11-238, 11-319, 11-320, 11-354, 11-401, 11-401.1, 11-404 & 11-405, NYC Ad Cd; amd §339-y, RP L
Versions Introduced in Other Legislative Sessions:
2011-2012: S5118, A8118
2013-2014: S726, A3947
2015-2016: S893, A4224
2019-2020: A5241
2021-2022: A8939
2023-2024: A4107

2017-S1408 (ACTIVE) - Summary

Classifies properties held in condominium and cooperative form for assessment purposes as class one-a properties; requires that the annual tax rate percentage change for class one-a properties does not exceed the annual tax rate percentage change for class one properties.

2017-S1408 (ACTIVE) - Sponsor Memo

2017-S1408 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1408
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              January 9, 2017
                                ___________
 
 Introduced  by  Sens.  AVELLA, KLEIN, STAVISKY -- 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, the administrative code of
   the city of New York and the real property law, in relation to classi-
   fying properties held in condominium and cooperative form for  assess-
   ment  purposes  as  class  one-a  properties;  and  to  repeal certain
   provisions of the real property tax law relating thereto
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 1802 of the real property tax law,
 as separately amended by chapters 123 and 529 of the laws of 1990, para-
 graph  class  one  as  amended  by  chapter  332 of the laws of 2008, is
 amended to read as follows:
   1. All real property, for the purposes of this article, in  a  special
 assessing unit shall be classified as follows:
   Class  one: (a) all one, two and three family residential real proper-
         ty, including such dwellings used  in  part  for  nonresidential
         purposes  but which are used primarily for residential purposes,
         except such property held in cooperative or condominium forms of
         ownership other than (i) property defined in  subparagraphs  (b)
         and  (c)  of  this paragraph and (ii) property which contains no
         more than three dwelling  units  held  in  condominium  form  of
         ownership and which was classified within this class on a previ-
         ous  assessment  roll;  and  provided  that, notwithstanding the
         provisions of paragraph (g) of subdivision twelve of section one
         hundred two of this chapter, a mobile home or  a  trailer  shall
         not  be classified within this class unless it is owner-occupied
         and separately assessed; and (b) residential real  property  not
         more  than  three  stories in height held in condominium form of
         ownership, provided that no dwelling unit therein previously was
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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