|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Apr 24, 2014||referred to local government|
senate Bill S7082
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S7082 - Details
S7082 - Summary
Exempts cost associated with revaluations or reassessments from the tax levy limit on real property.
S7082 - Sponsor Memo
BILL NUMBER:S7082 TITLE OF BILL: An act to amend the general municipal law, in relation to exempting the costs associated with real property revaluation or reassessment for the tax levy limit PURPOSE OR GENERAL IDEA OF BILL: This bill exempts from the tax levy limit imposed on local governments all costs associated with real property revaluations or reassessments. SUMMARY OF SPECIFIC PROVISIONS: This bill amends Section 3-c(2)(g)(iv) of the general municipal law, as added by section 1 of part A of chapter 97 of the laws of 2011, by adding a new subparagraph (v) which provides that the tax levy limit shall not include the costs associated with real property revaluations or reassessments. JUSTIFICATION: This bill is designed to encourage and assist local governments to update their real property assessments. Because properties have appreciated/depreciated differently over time, real property assessments in numerous municipalities have become outdated and unfair. Reassessment ensures that property owners pay their fair share of the tax burden. It does not raise more tax dollars. Municipalities have been reluctant to reassess - especially because of
S7082 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7082 I N S E N A T E April 24, 2014 ___________ Introduced by Sen. LATIMER -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the general municipal law, in relation to exempting the costs associated with real property revaluation or reassessment for the tax levy limit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (iv) of paragraph (g) of subdivision 2 of section 3-c of the general municipal law, as added by section 1 of part A of chapter 97 of the laws of 2011, is amended and a new subparagraph (v) is added to read as follows: (iv) in years in which the normal contribution rate of the New York state teachers' retirement system, as defined by paragraph a of subdivi- sion two of section five hundred seventeen of the education law, increases by more than two percentage points from the previous year, a tax levy necessary for expenditures for the coming fiscal year for local government employer contributions to the New York state teachers' retirement system caused by growth in the normal contribution rate minus two percentage points[.]; (V) ALL COSTS ASSOCIATED WITH REAL PROPERTY REVALUATIONS OR REASSESS- MENTS. S 2. Paragraph (a) of subdivision 3 of section 3-c of the general municipal law, as added by section 1 of part A of chapter 97 of the laws of 2011, is amended to read as follows: (a) Subject to the provisions of subdivision five of this section, beginning with the fiscal year that begins in two thousand twelve, no local government shall adopt a budget that requires a tax levy that is greater than the tax levy limit for the coming fiscal year. Provided however the tax levy limit shall not prohibit a levy necessary to support the expenditures pursuant to subparagraphs (i) through [(iv)] (V) of paragraph (g) of subdivision two of this section. S 3. Subdivision 5 of section 3-c of the general municipal law, as added by section 1 of part A of chapter 97 of the laws of 2011, is amended to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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