senate Bill S548

2011-2012 Legislative Session

Authorizes reassessment of real property based upon substantial change in valuation based on physical, statutory or economic conditions without affecting state aid

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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 04, 2012 referred to local government
Jan 05, 2011 referred to local government

S548 - Details

Current Committee:
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง1573, RPT L
Versions Introduced in 2009-2010 Legislative Session:
S259

S548 - Summary

Authorizes the reassessment of real property based upon the substantial change in valuation of real property based upon physical, statutory or economic conditions, without affecting the state aid for reassessment; increases state assistance payable from $5 to $15 per parcel.

S548 - Sponsor Memo

S548 - Bill Text download pdf

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

                                   548

                       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, in relation to state  assist-
  ance for local real property tax reassessment

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

  Section 1. Paragraph (a) of subdivision 2 of section 1573 of the  real
property tax law, as amended by section 1 of part Y of chapter 56 of the
laws of 2010, is amended to read as follows:
  (a) State assistance pursuant to subdivision one of this section shall
be  payable in an amount not to exceed [five] FIFTEEN dollars per parcel
for an assessment roll  upon  which  a  revaluation  is  implemented  in
accordance  with  an  approved  plan,  and not to exceed two dollars per
parcel for any assessment roll upon which a revaluation  is  not  imple-
mented  in accordance with an approved plan. The amount payable on a per
parcel basis shall exclude parcels which are wholly exempt  or  assessed
by  the  state  board.   PROVIDED, THAT NO PROVISION OF THIS SUBDIVISION
SHALL PROHIBIT ANY ASSESSOR FROM ADJUSTING, AT ANY TIME, THE  ASSESSMENT
OF  ANY  PARCEL  THE VALUE OF WHICH HAS BEEN SUBSTANTIALLY AFFECTED BY A
CHANGE IN PHYSICAL, STATUTORY OR ECONOMIC CONDITIONS, AND SUCH  ADJUSTED
ASSESSMENT  SHALL BE DEEMED TO HAVE BEEN IN EFFECT AND SHALL BE COMPUTED
AS OF THE DATE OF VALUATION BY THE ASSESSING UNIT.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00152-01-1

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