senate Bill S538

2013-2014 Legislative Session

Provides certain real property a 15% tax exemption

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate 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 (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to housing, construction and community development
Jan 09, 2013 referred to housing, construction and community development

Co-Sponsors

S538 - Details

Law Section:
Real Property Tax Law
Laws Affected:
Add ยง421-n, RPT L
Versions Introduced in 2011-2012 Legislative Session:
S7832

S538 - Summary

Provides certain real property a 15% tax exemption.

S538 - Sponsor Memo

S538 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   538

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sen. KENNEDY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Housing, Construction  and
  Community Development

AN  ACT  to  amend  the  real property tax law, in relation to providing
  certain real property a 15% tax exemption

  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 421-n to read as follows:
  S 421-N. EXEMPTION OF CERTAIN RESIDENTIAL PROPERTY  FROM  LOCAL  TAXA-
TION. 1. NOTWITHSTANDING THE PROVISIONS OF ANY GENERAL, SPECIAL OR LOCAL
LAW  TO  THE  CONTRARY,  THE LOCAL LEGISLATIVE BODY OF ANY CITY, TOWN OR
VILLAGE IS HEREBY AUTHORIZED AND EMPOWERED TO ADOPT AND  AMEND  A  LOCAL
LAW TO PROVIDE THAT REAL PROPERTY:
  (A) HELD IN CONDOMINIUM FORM OF OWNERSHIP;
  (B) THAT OTHERWISE SATISFIES THE PROVISIONS AND COMMON ELEMENTS ESTAB-
LISHED  BY  ARTICLE NINE-B OF THE REAL PROPERTY LAW FOR CLASSIFYING REAL
PROPERTY AS A CONDOMINIUM; AND
  (C) BUT FOR THE FAILURE OF THE DEVELOPER OR OWNER OF SUCH REAL PROPER-
TY TO FILE THE NECESSARY APPLICATION REQUIRED  TO  OBTAIN  THE  SEPARATE
ASSESSMENT  AND TAXATION PROVIDED IN SECTION THREE HUNDRED THIRTY-NINE-Y
OF THE REAL PROPERTY LAW, MAY HAVE BEEN ELIGIBLE FOR SUCH ASSESSMENT AND
TAXATION, SHALL BE EXEMPT FROM TAXATION TO THE EXTENT OF FIFTEEN PERCENT
OF THE ASSESSED VALUE OF SUCH PROPERTY.
  2. THE EXEMPTION FROM TAXATION  PROVIDED  BY  THIS  SECTION  SHALL  BE
APPLICABLE TO COUNTY, CITY, SCHOOL, TOWN AND VILLAGE TAXATION.
  3.  APPLICATION FOR EXEMPTION MUST BE MADE BY THE OWNER, OR ALL OF THE
OWNERS, OF SUCH PROPERTY ON A FORM PRESCRIBED  BY  THE  COMMISSIONER  OF
TAXATION  AND FINANCE. THE OWNER OR OWNERS SHALL FILE THE COMPLETED FORM
IN THE ASSESSOR'S OFFICE ON OR BEFORE THE APPROPRIATE  TAXABLE    STATUS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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