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Assembly Bill A10071

2011-2012 Legislative Session

Relates to partial abatement of real property taxes

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Archive: Last Bill Status - On Floor Calendar

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2011-A10071 (ACTIVE) - Details

Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง467-a, RPT L

2011-A10071 (ACTIVE) - Summary

Extends for four years a real property tax abatement program for cooperative and condominium units in cities of one million or more, to address the inequitable tax treatment of co-op and condo owners.

2011-A10071 (ACTIVE) - Bill Text download pdf 

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

                                  10071

                          I N  A S S E M B L Y

                               May 2, 2012
                               ___________

Introduced  by M. of A. SILVER, GOTTFRIED, FARRELL, DINOWITZ, O'DONNELL,
  PERRY, MARKEY -- Multi-Sponsored by -- M. of A.  BRAUNSTEIN,  BRENNAN,
  CLARK,  COLTON, CYMBROWITZ, GLICK, HEASTIE, HIKIND, V. LOPEZ, MILLMAN,
  NOLAN, ORTIZ, SCARBOROUGH, WEINSTEIN -- read once and referred to  the
  Committee on Real Property Taxation

AN ACT to amend the real property tax law, in relation to partial abate-
  ment of real property taxes

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

  Section 1. Subparagraph (xvi) of paragraph (c)  of  subdivision  2  of
section  467-a  of the real property tax law, as added by chapter 109 of
he laws of 2008, is amended and four new subparagraphs (xvii),  (xviii),
(xix) and (xx) are added to read as follows:
  (xvi)  twenty-five  percent  in the fiscal year commencing in calendar
year two thousand eleven[.];
  (XVII) TWENTY-FIVE PERCENT IN THE FISCAL YEAR COMMENCING  IN  CALENDAR
YEAR TWO THOUSAND TWELVE;
  (XVIII)  TWENTY-FIVE PERCENT IN THE FISCAL YEAR COMMENCING IN CALENDAR
YEAR TWO THOUSAND THIRTEEN;
  (XIX) TWENTY-FIVE PERCENT IN THE FISCAL YEAR  COMMENCING  IN  CALENDAR
YEAR TWO THOUSAND FOURTEEN;
  (XX)  TWENTY-FIVE  PERCENT  IN  THE FISCAL YEAR COMMENCING IN CALENDAR
YEAR TWO THOUSAND FIFTEEN.
  S 2. Subparagraph (xvi) of paragraph (d) of subdivision 2  of  section
467-a  of the real property tax law, as added by chapter 109 of the laws
of 2008, is amended and four new subparagraphs  (xvii),  (xviii),  (xix)
and (xx) are added to read as follows:
  (xvi)  seventeen and one-half percent in the fiscal year commencing in
calendar year two thousand eleven[.];
  (XVII) SEVENTEEN AND ONE-HALF PERCENT IN THE FISCAL YEAR COMMENCING IN
CALENDAR YEAR TWO THOUSAND TWELVE;
  (XVIII) SEVENTEEN AND ONE-HALF PERCENT IN THE FISCAL  YEAR  COMMENCING
IN CALENDAR YEAR TWO THOUSAND THIRTEEN;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15543-01-2

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