S T A T E   O F   N E W   Y O R K
________________________________________________________________________
                                  9144
                          I N  A S S E M B L Y
                             March 20, 2014
                               ___________
Introduced  by M. of A. ROZIC -- read once and referred to the Committee
  on Real Property Taxation
AN ACT to amend the administrative code of the  city  of  New  York,  in
  relation  to prohibiting the city of New York from increasing property
  taxes where a property's assessed value has decreased in the  previous
  year
  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
  Section 1. The administrative code of the city of New York is  amended
by adding a new section 11-239-a to read as follows:
  S  11-239-A  ASSESSMENTS  FOLLOWING  DECREASED VALUATION. THE ASSESSED
VALUE OF REAL PROPERTY SHALL NOT BE INCREASED FOR THE PERIOD OF  A  YEAR
AFTER SUCH PROPERTY'S ASSESSED VALUE HAS DECREASED.
  S 2. This act shall take effect immediately.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11616-04-4