senate Bill S933

2011-2012 Legislative Session

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

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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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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to local government
Jan 05, 2011 referred to local government

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S933 - Bill Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add ยง306, RPT L
Versions Introduced in 2009-2010 Legislative Session:
S593

S933 - Bill Texts

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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.

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BILL NUMBER:S933

TITLE OF BILL:
An act
to amend the real property tax law, in relation to limiting the increase
in real property taxes resulting from a reassessment

PURPOSE:
This bill limits increases in real property taxes due to a revaluation,
reassessment or update to five percent.

SUMMARY OF PROVISIONS:
The real property tax law is amended by adding a new section 306 to
limit increases in real property taxes due to a revaluation,
reassessment or update to five percent.

In no way does this section limit or prohibit any municipal corporation
from choosing to increase their real property tax if they so choose.

JUSTIFICATION:
Across the State, homeowners are consistently facing increased property
taxes. These increases are making it difficult for homeowners, both new
and old, to keep pace with large jumps on their tax bill.

Increases in real property taxes due to a revaluation, reassessment or
update need to be capped at 5% from year to year to help homeowners
financially prepare for tax increases.

This bill does not limit a locality from choosing to increase their real
property tax should it decide to do so. The bill simply says that real
property tax increases due to a revaluation, reassessment or update will
be capped at 5%.

LEGISLATIVE HISTORY:
S.6406 of 2006; S.609 of 2007/2008; S.593 of 2009/10

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
This act shall take effect immediately.

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

                                   933

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

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.
                                                           LBD04403-01-1

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