senate Bill S538

2013-2014 Legislative Session

Provides certain real property a 15% tax exemption

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Archive: Last Bill Status - In Committee


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

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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

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S538 - Bill Details

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

S538 - Bill Texts

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Provides certain real property a 15% tax exemption.

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BILL NUMBER:S538

TITLE OF BILL:
An act
to amend the real property tax law, in relation to providing certain
real property a 15% tax exemption

PURPOSE:
To provide a 15% real property tax exemption for certain real
property where the tax classification resulted in a 25-40% higher tax
assessment.

SUMMARY OF SPECIFIC PROVISIONS:
Section 1 amends the real property tax
law to add a new section 421-n to create an exemption certain
residential property from local taxation for real property held in
condominium form of ownership that satisfies the elements of article
nine-b, but for the failure of the developer or owner to file a
separate assessment application.
The exemption from local taxation shall apply to county, city, school,
town and village taxation.

The application for exemption must be filed by all owners of the real
property and provided all criteria are met, the exemption shall
continue in full force for all subsequent, tax years with no need to
re-file.

The local legislative body has the authority to adopt a law allowing
for the exemption and to repeal up to 90 days prior to the taxable
status date of the municipality.

Section 2 is the effective date.

JUSTIFICATION:
New York State patio home communities are classified as
either single family homes or condominiums. In accordance with the
real
property tax law 339Y, the developer requests the tax classification
from the state prior to the start of construction. Property taxes for
the two different classifications are significantly different. The
single family home property assessment value is based on a
percentage of the fair market value of the home. The condo property
assessment is based on a percentage of rental income the home could
generate. This classification difference results in a 25-40% tax
discrepancy-between the two identical homes. To create taxation
equity between these identical homes, this legislation allows the
local body the authority to offer a 15% tax exemption to these homes
that did not receive the discounted tax classification. The
legislation also allows the locality to terminate the 15% exemption
if necessary.

LEGISLATIVE HISTORY:
2012: S.7832/A.9851 Referred to Rules

FISCAL IMPLICATION:
To be determined.


EFFECTIVE DATE:
This act shall take effect immediately.

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                    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.
                                                           LBD03971-01-3

S. 538                              2

DATE.  PROVIDED  THAT  ALL ELIGIBILITY CRITERIA OF THIS SECTION ARE MET,
THE EXEMPTION SHALL CONTINUE IN FULL FORCE AND EFFECT FOR ALL  APPROPRI-
ATE  SUBSEQUENT  TAX YEARS AND THE OWNER OR OWNERS OF THE PROPERTY SHALL
NOT BE REQUIRED TO RE-FILE EACH YEAR.
  4. A LOCAL LAW ADOPTED PURSUANT TO THIS SUBDIVISION MAY BE REPEALED BY
THE  GOVERNING  BOARD  OF  THE APPLICABLE COUNTY, CITY, TOWN OR VILLAGE.
SUCH REPEAL SHALL OCCUR AT LEAST NINETY DAYS PRIOR TO THE TAXABLE STATUS
DATE OF SUCH COUNTY, CITY, TOWN OR VILLAGE.
  5. NOTWITHSTANDING THE FOREGOING PROVISIONS OF THIS SECTION, NO  LATER
THAN  NINETY  DAYS  BEFORE  THE  TAXABLE STATUS DATE NEXT OCCURRING, THE
GOVERNING BOARD OF ANY COUNTY, CITY, TOWN OR VILLAGE MAY ADOPT  A  LOCAL
LAW  TO  PROVIDE  THAT  NO  EXEMPTION  SHALL BE GRANTED PURSUANT TO THIS
SECTION FOR THE PURPOSE OF TAXES LEVIED FOR SUCH COUNTY, CITY,  TOWN  OR
VILLAGE.
  S 2. This act shall take effect immediately.

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