Assembly Bill A1492

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

                                  1492

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2009
                               ___________

Introduced by M. of A. WRIGHT, V. LOPEZ -- read once and referred to the
  Committee on Real Property Taxation

AN  ACT to amend the real property tax law, in relation to requiring the
  disclosure to the petitioner of the assessing  method,  capitalization
  rate, and certain other information used to determine valuation by the
  respondent in a judicial proceeding brought to review an assessment of
  real property in a city having a population of one million or more

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

  Section 1. Subdivision 2 of section 714 of the real property  tax  law
is amended to read as follows:
  2.  If the respondent has not served an answer or moved to dismiss the
petition prior to the service of a note of issue, except as hereinbefore
provided, in order to raise an objection to the sufficiency of the peti-
tion  or  assert an affirmative defense upon the hearing, he OR SHE must
serve upon the petitioner within forty days after the service of a  note
of  issue,  a  notice  containing  a  statement  of  the  nature of such
objection or such defense, unless for good cause the time to serve  such
notice  is  extended  by  the court or a justice thereof, on an order to
show cause.  Unless the petitioner and respondent stipulate  in  writing
for  a  hearing  at  an earlier date, no hearing shall be held less than
thirty days after service of such  notice  upon  the  petitioner.    THE
ANSWER  OR  NOTICE SERVED PURSUANT TO THE PROVISIONS OF THIS SUBDIVISION
SHALL DISCLOSE THE ASSESSING METHOD USED, ANY CAPITALIZATION RATE  USED,
AND  ANY  OTHER  DATA  OR FORMULA USED TO DETERMINE THE VALUATION OF THE
REAL PROPERTY.
  S 2. This act shall take effect on the thirtieth day  after  it  shall
have become a law and shall apply to proceedings commenced or pending on
or  after  its  effective  date, and, in addition, the disclosure of the
information required to be disclosed by the amendment made  to  subdivi-

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

                                                           LBD00242-01-9

A. 1492                             2

sion  2  of  section  714 of the real property tax law by section one of
this act shall,  if  the  time  for  such  disclosure  pursuant  to  the
provisions  of  such subdivision 2 has passed in a proceeding pending on
the effective date of this act, be made within thirty days of the effec-
tive  date  of  this act, and the petitioner shall have a continuance of
thirty days from receipt thereof to review such disclosures  and  submit
or  modify  such  documents  or other evidence, or make such motions, as
such disclosures may prompt.