Assembly Actions -
Senate Actions - UPPERCASE
|Oct 15, 2014||
referred to real property taxation
Assembly Bill A10192
2013-2014 Legislative Session
Archive: Last Bill Status - In Assembly Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
Herman D. Farrell
2013-A10192 (ACTIVE) - Details
2013-A10192 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10192 I N A S S E M B L Y October 15, 2014 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Glick, O'Donnell, Gottfried) -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to imposing an additional tax on certain non-primary residence class one and class two properties in a city with a population of one million or more 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 307-b to read as follows: S 307-B. ADDITIONAL TAX ON CERTAIN NON-PRIMARY RESIDENCE PROPERTIES IN A CITY WITH A POPULATION OF ONE MILLION OR MORE. 1. GENERALLY. NOTWITH- STANDING ANY PROVISION OF ANY GENERAL, SPECIFIC OR LOCAL LAW TO THE CONTRARY, ANY CITY WITH A POPULATION OF ONE MILLION OR MORE IS HEREBY AUTHORIZED AND EMPOWERED TO ADOPT AND AMEND LOCAL LAWS IN ACCORDANCE WITH THIS SECTION IMPOSING AN ADDITIONAL TAX ON CERTAIN RESIDENTIAL PROPERTIES. 2. DEFINITIONS. AS USED IN THIS SECTION: (A) "COMMISSIONER OF FINANCE" MEANS THE COMMISSIONER OF FINANCE OF A CITY HAVING A POPULATION OF ONE MILLION OR MORE, OR HIS OR HER DESIGNEE. (B) "DEPARTMENT OF FINANCE" MEANS THE DEPARTMENT OF FINANCE OF A CITY HAVING A POPULATION OF ONE MILLION OR MORE. (C) "MARKET VALUE" SHALL MEAN THE CURRENT MONETARY VALUE OF THE PROP- ERTY, USING A COMPARABLE SALE-BASED VALUATION METHOD, AS DETERMINED BY THE DEPARTMENT OF FINANCE. 3. ADDITIONAL TAX. A LOCAL LAW ENACTED PURSUANT TO THIS SECTION MAY PROVIDE FOR A REAL PROPERTY TAX IN ACCORDANCE WITH THE FOLLOWING TABLE FOR FISCAL YEARS BEGINNING ON OR AFTER JULY FIRST, TWO THOUSAND FIFTEEN: IF THE MARKET VALUE OF THE THE TAX IS: PROPERTY IS: OVER $5,000,000 BUT NOT $0 PLUS .5% OF EXCESS OVER $6,000,000 OVER $5,000,000 OVER $6,000,000 $5,000 PLUS 1% OF EXCESS BUT NOT OVER $10,000,000 OVER $6,000,000 OVER $10,000,000 BUT NOT $45,000 PLUS 1.5% OF EXCESS OVER $15,000,000 OVER $10,000,000
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