Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 20, 2010 |
referred to real property taxation |
Assembly Bill A10757
2009-2010 Legislative Session
Sponsored By
DINOWITZ
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
Actions
co-Sponsors
Robert Castelli
2009-A10757 (ACTIVE) - Details
2009-A10757 (ACTIVE) - Summary
Provides that the real property tax assessment on property owned by a person 70 years of age or older may be capped at last year's assessment; such assessment shall not be increased as long as ownership remains the same; takes effect sixty days after enactment; requires that it must be adopted by entity selecting assessor.
2009-A10757 (ACTIVE) - Sponsor Memo
BILL NUMBER:A10757 TITLE OF BILL: An act to amend the real property tax law, in relation to capping real property assessments for persons seventy years of age or more PURPOSE OR GENERAL IDEA OF BILL: To provide an option to municipalities to cap the assessed valuation of a property owned by a senior citizen 70 years of age or older for the purposes of property tax assessments for the years following the enactment of this bill. SUMMARY OF SPECIFIC PROVISIONS: Section 1 adds a new section 467-g to the real property tax law by creating a local option to allow munici- palities to permit homeowners seventy years of age or older with an annual income of less than S 100,000 to hold their real property tax assessment at the same level as the valuation of the previous year from the enactment of this bill. Section 2 provides for an effective date. JUSTIFICATION: On of the most pressing issues facing homeowners in New York State is the issue of property taxes. The property tax burden in New York State is among the highest in the nation. In many cases, senior citizens have the most equity in their houses because they have been in them for long periods of time and often own them outright. Furthermore, the dramatic increases in assessed property values coupled with the
2009-A10757 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10757 I N A S S E M B L Y April 20, 2010 ___________ Introduced by M. of A. DINOWITZ, CASTELLI -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to capping real property assessments for persons seventy years of age or more THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property tax law is amended by adding a new section 467-g to read as follows: S 467-G. EXEMPTION FOR HOMEOWNERS SEVENTY YEARS OF AGE AND OLDER. 1. REAL PROPERTY OWNED IN WHOLE OR IN PART BY A PERSON SEVENTY YEARS OF AGE OR OLDER MAY, UPON APPLICATION THEREFOR, HAVE THE ASSESSMENT CAPPED AT THE FIGURE USED IN THE YEAR PRIOR TO THE YEAR IN WHICH THIS SECTION TAKES EFFECT OR IN THE YEAR PRIOR TO THE YEAR IN WHICH SUCH OWNERSHIP INTEREST IS ACQUIRED, WHICHEVER YEAR IS LATER IN TIME. APPLICATION SHALL BE MADE TO THE APPROPRIATE LOCAL ASSESSOR'S OFFICE UPON FORMS PROVIDED BY SUCH ASSESSOR. AS USED IN THIS SECTION, THE PHRASE "IN WHOLE OR IN PART" SHALL BE LIMITED TO AT LEAST AN UNDIVIDED FIFTY PERCENT INTEREST. THE PROVISIONS OF THIS SECTION ARE LIMITED TO PERSONS SEVENTY YEARS OF AGE OR OLDER WITH AN ANNUAL INCOME OF ONE HUNDRED THOUSAND DOLLARS OR LESS. THIS SECTION SHALL ONLY APPLY IF THE INDIVIDUAL OR BODY THAT SELECTS THE ASSESSOR SHALL ADOPT ITS APPLICATION. 2. A. IF THIS EXEMPTION IS ADOPTED, THE LOCAL ASSESSOR SHALL NOTIFY, OR CAUSE TO BE NOTIFIED, EACH PERSON OWNING RESIDENTIAL REAL PROPERTY IN THE JURISDICTION OF THE PROVISIONS OF THIS SECTION. THE PROVISIONS OF THIS SUBDIVISION MAY BE MET BY A NOTICE SENT TO SUCH PERSONS IN SUBSTAN- TIALLY THE FOLLOWING FORM: "RESIDENTIAL REAL PROPERTY MAY QUALIFY FOR A PARTIAL EXEMPTION FROM TAXES. TO RECEIVE SUCH EXEMPTION, QUALIFYING OWNERS MUST FILE AN APPLICATION WITH THEIR LOCAL ASSESSOR ON OR BEFORE THE APPLICABLE TAXABLE STATUS DATE. FOR FURTHER INFORMATION, PLEASE CONTACT YOUR LOCAL ASSESSOR." B. IN THE CASE OF A PARCEL WHICH WAS GRANTED THIS EXEMPTION ON THE PRECEDING ASSESSMENT ROLL, THE ASSESSOR SHALL CAUSE A NOTICE, PREFERABLY ON A POSTCARD, TO BE MAILED TO THE OWNER OR OWNERS ANNUALLY, AT LEAST SIXTY DAYS BEFORE THE APPROPRIATE TAXABLE STATUS DATE. EACH SUCH NOTICE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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