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