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Senate Bill S593

2009-2010 Legislative Session

Limits increases in real property taxes due to a revaluation, reassessment or update to five percent

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Sponsored By

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

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2009-S593 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add ยง306, RPT L
Versions Introduced in 2011-2012 Legislative Session:
S933

2009-S593 (ACTIVE) - Summary

Limits increases in real property taxes due to a revaluation, reassessment or update to five percent of the real property tax liability for such property prior to such revaluation, reassessment or update.

2009-S593 (ACTIVE) - Sponsor Memo

2009-S593 (ACTIVE) - Bill Text download pdf 

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

                                   593

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             January 9, 2009
                               ___________

Introduced  by  Sen.  MARCELLINO  -- 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, in relation to  limiting  the
  increase in real property taxes resulting from a reassessment

  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 306 to read as follows:
  S  306.  REASSESSMENT  TAX INCREASES; LIMITS. ANY INCREASE IN THE REAL
PROPERTY TAX LIABILITY OF ANY PARCEL OF REAL PROPERTY RESULTING  FROM  A
REVALUATION,  REASSESSMENT OR UPDATE, AS DEFINED PURSUANT TO SUBDIVISION
TWELVE-A OF SECTION ONE HUNDRED TWO OF THIS CHAPTER, SHALL BE LIMITED TO
FIVE PERCENT OF THE REAL PROPERTY TAX LIABILITY OF  SUCH  PARCEL  ESTAB-
LISHED  BY  THE  ASSESSMENT  ROLL  PREPARED  ON THE BASIS OF THE TAXABLE
STATUS DATE OCCURRING IMMEDIATELY PRIOR TO SUCH  REVALUATION,  REASSESS-
MENT OR UPDATE. NO PROVISION OF THIS SECTION SHALL BE CONSTRUED TO LIMIT
OR  PROHIBIT  ANY MUNICIPAL CORPORATION, AS DEFINED PURSUANT TO SUBDIVI-
SION TEN OF SECTION ONE HUNDRED TWO OF THIS CHAPTER, FROM INCREASING THE
RATE OF REAL PROPERTY TAXES ASSESSED ON REAL PROPERTY LOCATED WITHIN ITS
JURISDICTION AS IS OTHERWISE AUTHORIZED AND PROVIDED BY LAW.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02920-01-9

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