senate Bill S133A

2011-2012 Legislative Session

Requires market-based assessments on real property owned or leased by a cooperative corporation or on a condominium basis

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 11, 2012 print number 133a
amend and recommit to local government
Jan 04, 2012 referred to local government
Jan 05, 2011 referred to local government

Bill Amendments

Original
A (Active)
Original
A (Active)

S133 - Bill Details

See Assembly Version of this Bill:
A5339A
Current Committee:
Law Section:
Real Property Tax Law
Laws Affected:
Amd §581, RPT L; amd §339-y, RP L
Versions Introduced in 2009-2010 Legislative Session:
S256, A1574, A9790

S133 - Bill Texts

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Requires market-based assessments of real property owned or leased by a cooperative corporation or on a condominium basis which is converted or constructed on or after January 1, 2014.

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BILL NUMBER:S133

TITLE OF BILL:
An act
to amend the real property tax law and the real property law, in
relation to the assessment of condominiums and cooperatives

PURPOSE:
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, 2013.

SUMMARY OF PROVISIONS:
Section 1 adds paragraph (d)
to section 581 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 1,2013 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, 2013 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.

LEGISLATIVE HISTORY:
2009/10: S.255 Referred to Local Government; A.5124 Held for
consideration in Ways & Means
2008: S.7727 3rd Reading: A.10730 Ways & Means

FISCAL IMPLICATIONS:
None.


EFFECTIVE DATE:
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, 2013.

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

                                   133

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

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 assessment of condominiums and cooperatives

  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 IN A MUNICIPAL CORPORATION, OTHER THAN A SPECIAL  ASSESSING  UNIT,
TO  A  CONDOMINIUM  OR  COOPERATIVE  UNIT  UNLESS  IT WAS SUBJECT TO THE
PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVISION ON  JANUARY  FIRST,  TWO
THOUSAND THIRTEEN.
  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  IN  A MUNICIPAL CORPORATION, OTHER THAN A SPECIAL ASSESSING UNIT,
TO A CONDOMINIUM UNIT UNLESS IT WAS SUBJECT TO THE PROVISIONS  OF  PARA-
GRAPH (B) OF THIS SUBDIVISION ON JANUARY FIRST, TWO THOUSAND THIRTEEN.
  S 3. This act shall take effect immediately and shall apply to assess-
ment rolls prepared on the basis of taxable status dates occurring on or
after January 1, 2013.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00146-01-1

S133A (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A5339A
Current Committee:
Law Section:
Real Property Tax Law
Laws Affected:
Amd §581, RPT L; amd §339-y, RP L
Versions Introduced in 2009-2010 Legislative Session:
S256, A1574, A9790

S133A (ACTIVE) - Bill Texts

view summary

Requires market-based assessments of real property owned or leased by a cooperative corporation or on a condominium basis which is converted or constructed on or after January 1, 2014.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 133--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sen.  LITTLE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government -- recom-
  mitted to the Committee on Local Government in accordance with  Senate
  Rule  6,  sec.  8  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the real property tax law and the real property law,  in
  relation to the assessment of condominiums and cooperatives

  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 IN A MUNICIPAL CORPORATION, OTHER THAN A SPECIAL  ASSESSING  UNIT,
TO  A  CONDOMINIUM  OR  COOPERATIVE  UNIT  UNLESS  IT WAS SUBJECT TO THE
PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVISION ON  JANUARY  FIRST,  TWO
THOUSAND FOURTEEN.
  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  IN  A MUNICIPAL CORPORATION, OTHER THAN A SPECIAL ASSESSING UNIT,
TO A CONDOMINIUM UNIT UNLESS IT WAS SUBJECT TO THE PROVISIONS  OF  PARA-
GRAPH (B) OF THIS SUBDIVISION ON JANUARY FIRST, TWO THOUSAND FOURTEEN.
  S 3. This act shall take effect immediately and shall apply to assess-
ment rolls prepared on the basis of taxable status dates occurring on or
after January 1, 2014.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00146-02-2

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