assembly Bill A10192

2013-2014 Legislative Session

Imposes an additional tax surcharge on certain non-primary residence class one and class two properties in N.Y. city

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Oct 15, 2014 referred to real property taxation

Co-Sponsors

A10192 (ACTIVE) - Details

See Senate Version of this Bill:
S7941
Law Section:
Real Property Tax Law
Laws Affected:
Add ยง307-b, RPT L
Versions Introduced in Other Legislative Sessions:
2015-2016: A1641, S1053
2017-2018: A3837, S69
2019-2020: A4540, S44

A10192 (ACTIVE) - Summary

Imposes an additional tax surcharge on certain non-primary residence class one and class two properties in a city with a population of one million or more.

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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