NY State Senate Bill 2009-S255

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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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2010	referred to local government
Jan 07, 2009	referred to local government

2009-S255 (ACTIVE) - Details

See Assembly Version of this Bill:: A5724
Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Amd §581, RPT L; amd §339-y, RP L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S546, A4981
2013-2014: S1000, A682
2015-2016: S618, A5484
2017-2018: S1191, A2874
2019-2020: S7057, A5221
2021-2022: S5946, A3491
2023-2024: S4065, A1292
2025-2026: S5460, A3812

2009-S255 (ACTIVE) - Summary

Relates to the taxation of property owned by a cooperative corporation.

2009-S255 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S255                REVISED 02/18/09

 TITLE OF BILL :

An act to amend the real property tax law and the real property law,
in relation to the taxation of property owned by a cooperative
corporation


 PURPOSE OR GENERAL IDEA OF BILL :

To allow a municipal corporations to pass a local law or resolution
that would make the provisions of paragraph (a) of subdivision 581 of
the real property tax law not apply to real property, owned or leased
by a cooperative corporation or on a condominium basis, that is
converted or constructed on and after January 1, 2011.

 SUMMARY OF SPECIFIC PROVISIONS :

Section 1 adds paragraph (d) to section 581.1 of the real property tax
law, allowing municipal corporations to remove the limitations in that
section on assessments on condominiums and cooperatives converted or
constructed on and after January 1, 2011 in any municipal corporation,
other than New York City and Nassau County.

Section 2 adds paragraph (g) to section 399-y of the real property law

allowing municipal corporations to remove the limitations ill that
section on assessments on condominiums and cooperatives converted or
constructed on and after January 1, 2011 in any municipal corporation,
other than New York City and Nassau County.

 JUSTIFICATION :

As currently written, the real property tax law and real property law
does not allow the sum of the assessments of individual cooperative or
condominium units to exceed the value of the entire complex if it was
valued as a single entity. The restriction tends to reduce condominium
and cooperative assessments by preventing the use of sales of units in
the assessment process.  The Office of Real Property Services,
assessors and other local officials generally consider the
restrictions an unreasonable state mandate which unfairly limits the
revenue-raising abilities of local governments. Assessors and
appraisers also Cite the difficulties they encounter when they are
forced to ignore market information--usually the best indicator of
value--in developing estimates of taxable value. This bill would allow
municipal corporations to value newly constructed and converted
cooperative and condominium units as they would other real property to
alleviate any negative impacts placed on the locality by the current
statute.

 PRIOR LEGISLATIVE HISTORY :

2008: S.7727 3rd Reading: A.10730 Ways & Means

 FISCAL IMPLICATIONS :

None.

 EFFECTIVE DATE :
Immediately and apply to assessment rolls prepared on the basis of
taxable status dates occurring on or after January 1, 2011.

2009-S255 (ACTIVE) - Bill Text download pdf

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

                                   255

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2009
                               ___________

Introduced  by  Sen.  LITTLE -- 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 and the real property law,  in
  relation  to  the  taxation  of property owned by a cooperative corpo-
  ration

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

  Section  1.  Subdivision 1 of section 581 of the real property tax law
is amended by adding a new paragraph (d) to read as follows:
  (D) THE PROVISIONS OF PARAGRAPH (A)  OF  THIS  SUBDIVISION  SHALL  NOT
APPLY  TO  REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR
ON A CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION, OTHER THAN A  SPECIAL
ASSESSING  UNIT,  WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS DATE OF
THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
FOR A SCHOOL DISTRICT, A RESOLUTION PROVIDING  THAT  THE  PROVISIONS  OF
PARAGRAPH  (A) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL PROPERTY
WITHIN THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS  OF
THIS  PARAGRAPH  SHALL  NOT  APPLY TO REAL PROPERTY OWNED OR LEASED BY A
COOPERATIVE CORPORATION OR ON A CONDOMINIUM BASIS THAT HAD  BEEN  PREVI-
OUSLY  SUBJECT  TO  THE  PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVISION
PRIOR TO JANUARY FIRST, TWO THOUSAND ELEVEN.
  S 2.   Subdivision 1 of section 339-y of  the  real  property  law  is
amended by adding a new paragraph (g) to read as follows:
  (G)  THE  PROVISIONS  OF  PARAGRAPH  (B) OF THIS SUBDIVISION SHALL NOT
APPLY TO REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE  CORPORATION  OR
ON  A  CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION OTHER THAN A SPECIAL
ASSESSING UNIT, WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS  DATE  OF
THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
FOR  A  SCHOOL  DISTRICT,  A RESOLUTION PROVIDING THAT THE PROVISIONS OF
PARAGRAPH (B) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL  PROPERTY

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

                                                           LBD00970-01-9

S. 255                              2

WITHIN  THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS OF
THIS PARAGRAPH SHALL NOT APPLY TO REAL PROPERTY OWNED  OR  LEASED  BY  A
COOPERATIVE  CORPORATION  OR ON A CONDOMINIUM BASIS THAT HAD BEEN PREVI-
OUSLY  SUBJECT  TO  THE  PROVISIONS OF PARAGRAPH (B) OF THIS SUBDIVISION
PRIOR TO JANUARY FIRST, TWO THOUSAND ELEVEN.
  S 3.   This act shall take  effect  immediately  and  shall  apply  to
assessment rolls prepared on the basis of taxable status dates occurring
on or after January 1, 2011.

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Senate Bill S255

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Archive: Last Bill Status - In Senate Committee Local Government Committee

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2009-S255 (ACTIVE) - Details

2009-S255 (ACTIVE) - Summary

2009-S255 (ACTIVE) - Sponsor Memo

2009-S255 (ACTIVE) - Bill Text download pdf

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Sponsored By

Betty Little

Archive: Last Bill Status - In Senate Committee Local Government Committee

Actions

2009-S255 (ACTIVE) - Details

2009-S255 (ACTIVE) - Summary

2009-S255 (ACTIVE) - Sponsor Memo

2009-S255 (ACTIVE) - Bill Text download pdf

Comments