Assembly Bill A1268

2021-2022 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2021-A1268 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §581, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7326
2015-2016: A2053
2017-2018: A4270
2019-2020: A1711

2021-A1268 (ACTIVE) - Summary

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

2021-A1268 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1268
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 8, 2021
                                ___________
 
 Introduced  by M. of A. QUART -- read once and referred to the Committee
   on Real Property Taxation
 
 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.
   § 2. This act shall take effect immediately.
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01638-01-1

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.