S T A T E   O F   N E W   Y O R K
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                                  4373

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 3, 2009
                               ___________

Introduced  by  M.  of A. HYER-SPENCER, TITONE, COOK, TOWNSEND -- Multi-
  Sponsored by -- M. of A.  CUSICK, GORDON -- read once and referred  to
  the Committee on Real Property Taxation

AN ACT to amend the real property tax law, in relation to establishing a
  real  property  tax  exemption  for  homeowners of homes fifty or more
  years old in the county of Richmond

  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 453 to read as follows:
  S 453. EXEMPTION FOR HOMEOWNERS OF HOMES FIFTY OR MORE YEARS  OLD.  1.
FOR  PURPOSES  OF  THIS SECTION, THE TERM "ELIGIBLE PROPERTY" SHALL MEAN
PRIMARY SINGLE-FAMILY RESIDENTIAL REAL PROPERTY FIFTY OR MORE YEARS  OLD
AND LOCATED IN THE COUNTY OF RICHMOND.
  2. ELIGIBLE PROPERTY SHALL BE EXEMPT FROM TAXATION LEVIED BY THE COUN-
TY OF RICHMOND.  SUCH EXEMPTION SHALL BE COMPUTED IN ACCORDANCE WITH THE
FOLLOWING TABLE:
     YEARS OF OWNERSHIP       PERCENTAGE ASSESSED
                              VALUATION EXEMPT FROM TAX
     1 THROUGH 5                     10
     6 THROUGH 10                    15
     11 THROUGH 20                   20
  3.  ANY  ELIGIBLE PROPERTY SHALL BE ELIGIBLE FOR THE EXEMPTION ALLOWED
PURSUANT TO THIS SECTION.
  4. NO PORTION OF ELIGIBLE PROPERTY SHALL BE LEASED DURING  THE  PERIOD
OF  TIME WHEN SUCH EXEMPTION SHALL APPLY TO THE PROPERTY. IF ANY PORTION
OF SUCH ELIGIBLE PROPERTY IS DETERMINED TO BE THE  SUBJECT  OF  A  LEASE
AGREEMENT, THE ASSESSOR SHALL DISCONTINUE ANY EXEMPTION GRANTED PURSUANT
TO THIS SECTION.
  5.  IN THE EVENT THAT AN ELIGIBLE PROPERTY GRANTED AN EXEMPTION PURSU-
ANT TO THIS SECTION CEASES TO BE USED PRIMARILY FOR SINGLE-FAMILY  RESI-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07506-01-9
              

A. 4373                             2

DENTIAL PURPOSES OR TITLE THERETO IS TRANSFERRED TO OTHER THAN THE HEIRS
OR  DISTRIBUTEES  OF  THE  OWNER, THE EXEMPTION GRANTED PURSUANT TO THIS
SECTION SHALL BE DISCONTINUED.
  6. UPON DETERMINING THAT AN EXEMPTION GRANTED PURSUANT TO THIS SECTION
SHOULD  BE  DISCONTINUED, THE ASSESSOR SHALL MAIL A NOTICE SO STATING TO
THE OWNER OR OWNERS THEREOF AT THE TIME AND IN THE  MANNER  PROVIDED  BY
SECTION  FIVE HUNDRED TEN OF THIS CHAPTER. SUCH OWNER OR OWNERS SHALL BE
ENTITLED TO SEEK ADMINISTRATIVE AND JUDICIAL REVIEW OF  SUCH  ACTION  IN
THE  MANNER  PROVIDED  BY LAW, PROVIDED THAT THE BURDEN SHALL BE ON SUCH
OWNER OR OWNERS TO ESTABLISH ELIGIBILITY FOR THE EXEMPTION.
  7. SUCH EXEMPTION SHALL BE GRANTED ONLY UPON APPLICATION BY THE  OWNER
OF  SUCH  PROPERTY ON A FORM PRESCRIBED BY THE STATE BOARD. THE APPLICA-
TION SHALL BE FILED WITH THE ASSESSOR OF THE COUNTY OF  RICHMOND  ON  OR
BEFORE THE APPROPRIATE TAXABLE STATUS DATE OF SUCH COUNTY.
  8.  IF SATISFIED THAT THE APPLICANT IS ENTITLED TO AN EXEMPTION PURSU-
ANT TO THIS SECTION, THE ASSESSOR SHALL APPROVE THE APPLICATION AND SUCH
ELIGIBLE PROPERTY SHALL THEREAFTER BE EXEMPT FROM TAXATION  AND  SPECIAL
AD  VALOREM  LEVIES  AS  PROVIDED  IN  THIS  SECTION COMMENCING WITH THE
ASSESSMENT ROLL PREPARED  ON  THE  BASIS  OF  THE  TAXABLE  STATUS  DATE
REFERRED  TO IN SUBDIVISION SEVEN OF THIS SECTION. THE ASSESSED VALUE OF
ANY EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL BE ENTERED  BY  THE
ASSESSOR  ON  THE  ASSESSMENT  ROLL  WITH THE TAXABLE PROPERTY, WITH THE
AMOUNT OF THE EXEMPTION SHOWN IN A SEPARATE COLUMN.
  9. A. ANY PERSON WHO OWNS REAL PROPERTY ELIGIBLE FOR THE EXEMPTION SET
FORTH IN THIS SECTION AND HAS RECEIVED SUCH EXEMPTION PURSUANT  TO  THIS
SECTION  SHALL BE REQUIRED TO REPAY TO THE COUNTY OF RICHMOND, THE ACCU-
MULATED AMOUNT OF EACH SUCH EXEMPTION RECEIVED BY SUCH PERSON, FOR  EACH
YEAR SUCH EXEMPTION WAS GRANTED, IF:
  I. SUCH PERSON HAS OWNED SUCH PROPERTY FOR LESS THAN TEN YEARS; AND
  II.  SUCH  PERSON  HAS  DEMOLISHED SUCH PROPERTY. FOR PURPOSES OF THIS
SUBDIVISION, THE TERM "DEMOLISHED" SHALL MEAN THE DESTRUCTION, DISMANTL-
ING OR LEVELING OF PROPERTY FOR THE PURPOSE OF BUILDING TWO OR MORE  NEW
HOMES ON SUCH PROPERTY.
  B.  ANY  EXEMPT  REAL  PROPERTY TAXES REPAID TO THE COUNTY OF RICHMOND
PURSUANT TO THIS SUBDIVISION SHALL BE REPAID WITH INTEREST CALCULATED AT
A RATE OF THREE PERCENT FROM THE DATE THE REAL PROPERTY TAXES, LESS  THE
EXEMPTION AMOUNT, WERE PAID.
  S 2. This act shall take effect immediately and:
  1.  shall  apply  to assessment rolls prepared on the basis of taxable
status dates occurring on or after such date; and
  2. shall apply to purchases of eligible property occurring on or after
such date.