Assembly Actions -
Senate Actions - UPPERCASE
|Jan 04, 2012||
referred to local government
|Mar 28, 2011||
referred to local government
Senate Bill S4283
2011-2012 Legislative Session
Archive: Last Bill Status - In Senate Committee Local Government Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2011-S4283 (ACTIVE) - Details
2011-S4283 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4283 TITLE OF BILL: An act to amend the real property tax law, in relation to classifying properties held in cooperative form for assessment purposes as class one properties PURPOSE OR GENERAL IDEA OF BILL: To reclassify cooperative and condominium units from class two property which is assessed as income producing property to class one property which is assessed as single family homes. SUMMARY OF SPECIFIC PROVISIONS: Paragraph class one of subdivision 1 of section 1802 of the real property tax law, as amended by chapter 332 of the laws of 2008 is amended to include cooperative or condominium form of ownership in class one. JUSTIFICATION: In cooperative housing, the owners own shares in the corporation that owns the housing. For example, a housing complex with 100 units is similar to 100 single family homes. In condominia housing, people own individual units. It is a collection
2011-S4283 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4283 2011-2012 Regular Sessions I N S E N A T E March 28, 2011 ___________ Introduced by Sen. STAVISKY -- 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 classifying properties held in cooperative form for assessment purposes as class one properties THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph class one of subdivision 1 of section 1802 of the real property tax law, as amended by chapter 332 of the laws of 2008, is amended to read as follows: Class one: (a) all one, two and three family residential real proper- ty, including such dwellings used in part for nonresidential purposes but which are used primarily for residential purposes, [except such property held in cooperative or condominium forms of ownership other than (i) property defined in subparagraphs (b) and (c) of this paragraph and (ii) property which contains no more than three dwelling units held in condominium form of ownership and which was classified within this class on a previous assessment roll; and] provided that, notwithstanding the provisions of paragraph (g) of subdivision twelve of section one hundred two of this chapter, a mobile home or a trailer shall not be classified within this class unless it is owner-occupied and separately assessed; and (b) residential real property [not more than three stories in height] held in COOPERATIVE OR condominium form of ownership[, provided that no dwelling unit therein previously was on an assessment roll as a dwelling unit in other than condominium form of ownership]; and (c) residential real property consisting of one family house struc- tures owned by the occupant, situated on land held in cooperative owner- ship by owner occupiers, provided that; (i) such house structures and land constituted bungalow colonies in existence prior to nineteen hundred forty; and (ii) the land is held in cooperative ownership for the sole purpose of maintaining one family residences for members own EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10152-03-1
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