NY State Senate Bill 2013-S7257

Senate Bill S7257

Signed By Governor

2013-2014 Legislative Session

Authorizes cities having a population of one million or more to grant a partial real property tax abatement during the 2014 - 2015 fiscal year for residential property repaired after a severe storm

download bill text pdf

Archive: Last Bill Status Via A9578 - Signed by Governor

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 29, 2014	signed chap.25
May 28, 2014	delivered to governor
May 20, 2014	returned to assembly passed senate 3rd reading cal.707 substituted for s7257
May 20, 2014	substituted by a9578
May 19, 2014	advanced to third reading
May 14, 2014	2nd report cal.
May 13, 2014	1st report cal.707
May 08, 2014	referred to cities

Votes

- May 20, 2014 - Floor Vote
  A9578
  
  60
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: May 20, 2014
      
      aye (60)
      
      Addabbo Jr.
      
      Avella
      
      Ball
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Carlucci
      
      DeFrancisco
      
      Diaz
      
      Dilan
      
      Farley
      
      Felder
      
      Flanagan
      
      Gallivan
      
      Gianaris
      
      Gipson
      
      Golden
      
      Griffo
      
      Grisanti
      
      Hannon
      
      Hassell-Thompson
      
      Hoylman-Sigal
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Latimer
      
      Libous
      
      Little
      
      Marcellino
      
      Marchione
      
      Martins
      
      Maziarz
      
      Montgomery
      
      Nozzolio
      
      O'Brien
      
      O'Mara
      
      Parker
      
      Peralta
      
      Perkins
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Sampson
      
      Sanders Jr.
      
      Savino
      
      Serrano
      
      Seward
      
      Skelos
      
      Smith
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Tkaczyk
      
      Valesky
      
      Young
      
      Zeldin
      
      excused (1)
      
      Espaillat
  May 13, 2014 - Committee Vote
  S7257
  
  6
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Committee Vote: May 13, 2014
      
      aye (6)
      
      Ball
      
      Breslin
      
      DeFrancisco
      
      Grisanti
      
      Lanza
      
      Squadron

co-Sponsors

2013-S7257 (ACTIVE) - Details

See Assembly Version of this Bill:: A9578
Law Section:: Real Property Tax Law
Laws Affected:: Add §467-h, RPT L

2013-S7257 (ACTIVE) - Summary

Authorizes cities having a population of one million or more to grant a partial real property tax abatement, during the 2014 - 2015 fiscal year, for certain residential property damaged in a severe storm on October 29 - 30, 2012 and subsequently repaired.

2013-S7257 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S7257

TITLE OF BILL:  An act to amend the real property tax law, in relation
to establishing a partial abatement of real property taxes on real
property that was rebuilt after being seriously damaged by the severe
storm that occurred on the twenty-ninth and thirtieth of October, two
thousand twelve in a city having a population of one million or more

SUMMARY OF PROVISIONS:

Section one of this bill adds a new section 467-h to the Real Property
Tax Law to authorize New York City to grant a partial abatement of
real property taxes for certain class one, class two and class four
properties. The properties that will be eligible for this abatement
must satisfy the following conditions as of the applicable taxable
status date:

1. The Department of Finance reduced the assessed valuation of the
building on the property for fiscal year 2014 from the assessed
valuation for fiscal year 2013 as a result of damage caused by
Hurricane Sandy.

2. The Department of Finance increased the assessed valuation of the
building for fiscal year 2015 from its assessed valuation for fiscal
year 2014.

3. The assessed valuation of the building for fiscal year 2015 exceeds
that for fiscal year 2013.

For class one and smaller class two properties that satisfy these
conditions, the amount of the abatement will be the amount by which
the tax on the property for fiscal year 2015 exceeds the tax for
fiscal year 2013. For class four and larger class two properties that
satisfy these conditions, the amount of the abatement will be the
difference between the physical add-back in fiscal year 2015 and the
physical decrease in fiscal year 2014. To the extent the square
footage used to determine the assessed valuation of the building on
the property for fiscal year 2015 exceeds that for fiscal year 2013,
the bill provides that the Department of Finance will recalculate the
abatement to reduce it by the portion of the tax for fiscal year 2015
that is attributable to the excess square footage of the building.

The bill also includes provisions for the correction of erroneous
abatements and the collection of the amount of abatements granted in
error, and for the adjustment of abatements granted to properties for
which the assessed valuation and the corresponding real property tax
have been reduced.

Section two provides that the bill shall take effect immediately.

REASONS FOR SUPPORT:  In its recent report, "One City, Rebuilding
Together: A Report on the City of New York's Response to Hurricane
Sandy and the Path Forward," the City set forth a number of policies
to streamline the recovery process and prioritize rebuilding. The
policies outlined in the report include, but are not limited to,
improving the experience of homeowners navigating the preconstruction
process, enhancing coordination amongst city, state and federal


partners, and engaging local communities in the rebuilding process.
Notably, the report also recommends providing additional financial
relief to homeowners. This legislation does just that.

This bill would provide real property tax relief to New York City
residents who repaired or rebuilt properties that were severely
damaged by Hurricane Sandy. Even if the repair or rebuilding merely
restored a building to its condition prior to the storm, the assessed
valuation and therefore, the real property taxes, of some of these
properties will be higher in fiscal year 2015 than in fiscal year
2013. In order to assist these property owners, this bill authorizes
New York City to enact a local law granting a partial abatement of
real property taxes so that the owners of these properties will not
incur such an increase in real property taxes for fiscal year 2015.

The amount of the real property tax abatement will reflect the
increase in the real property tax attributable to improvements on the
eligible property which, for purposes of this legislation, includes
certain class one, class two and class four properties. In the event
that the repair or rebuilding resulted in an increase in the square
footage of the affected property, the bill provides that the
Department of Finance will recalculate the abatement to reduce it by
the portion of the tax for fiscal year 2015 that is attributable to
the excess square footage of the property.

The worst natural disaster ever to hit the City of New York, Hurricane
Sandy, cost forty-four New Yorkers their lives. Many more residents
lost homes or businesses, and entire communities were sent reeling by
the storm's devastating impact. There is a great deal more work to do
to help the hardest-hit communities get back on their feet and we must
continue to be vigilant in marshaling City resources to provide relief
to those who need it most.

Unfortunately, the statutory real property tax assessment structure
does not contemplate the unique circumstance that many property owners
find themselves in as a result of Hurricane Sandy: that these property
owners would, in effect, suffer a tax penalty for rebuilding their
storm-torn properties.

This real property tax abatement provides an absolutely necessary
measure of relief to owners of class one, class two and class four
properties who began the rebuilding process to return to normalcy.

Accordingly, the Mayor urges the earliest possible favorable
consideration of this proposal by the Legislature.

EFFECTIVE DATE:

Immediately.

2013-S7257 (ACTIVE) - Bill Text download pdf

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

                                  7257

                            I N  S E N A T E

                               May 8, 2014
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Cities

AN ACT to amend the real property tax law, in relation to establishing a
  partial abatement of real property taxes on  real  property  that  was
  rebuilt  after  being  seriously  damaged  by  the  severe  storm that
  occurred on the twenty-ninth and thirtieth of  October,  two  thousand
  twelve in a city having 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 467-h to read as follows:
  S 467-H. PARTIAL ABATEMENT FOR CERTAIN REBUILT REAL PROPERTY SERIOUSLY
DAMAGED  BY THE SEVERE STORM THAT OCCURRED ON THE TWENTY-NINTH AND THIR-
TIETH OF OCTOBER, TWO THOUSAND TWELVE IN A CITY HAVING A  POPULATION  OF
ONE MILLION OR MORE. 1. GENERALLY.  NOTWITHSTANDING ANY PROVISION OF ANY
GENERAL,  SPECIAL  OR LOCAL LAW TO THE CONTRARY, ANY CITY HAVING A POPU-
LATION OF ONE MILLION OR MORE IS  HEREBY  AUTHORIZED  AND  EMPOWERED  TO
ADOPT  AND  AMEND  LOCAL LAWS IN ACCORDANCE WITH THIS SECTION TO GRANT A
PARTIAL ABATEMENT OF REAL PROPERTY TAXES FOR THE FISCAL  YEAR  BEGINNING
ON  THE  FIRST OF JULY, TWO THOUSAND FOURTEEN, IN THE AMOUNT PROVIDED IN
THIS SECTION TO ELIGIBLE REAL PROPERTY AS DEFINED IN  SUBDIVISION  THREE
OF  THIS  SECTION  ON THE FIRST OF JULY, TWO THOUSAND FOURTEEN. IF LEGAL
TITLE TO ELIGIBLE REAL PROPERTY IS HELD BY ONE  OR  MORE  TRUSTEES,  THE
BENEFICIAL  OWNER  OR  OWNERS  SHALL  BE  DEEMED TO OWN THE PROPERTY FOR
PURPOSES OF THIS SECTION.  NOTWITHSTANDING ANY PROVISION OF THIS ARTICLE
TO THE CONTRARY, A PROPERTY THAT IS RECEIVING BENEFITS PURSUANT  TO  ANY
OTHER  SECTION  OF THIS ARTICLE SHALL NOT BE PROHIBITED FROM RECEIVING A
PARTIAL ABATEMENT PURSUANT TO THIS SECTION IF SUCH PROPERTY IS OTHERWISE
ELIGIBLE TO RECEIVE SUCH ABATEMENT.
  2. DEFINITIONS. AS USED IN THIS SECTION:
  A. "ACTUAL ASSESSED VALUATION" MEANS THE ASSESSED  VALUATION  OF  REAL
PROPERTY PRIOR TO THE CALCULATION OF ANY TRANSITIONAL ASSESSED VALUATION
PURSUANT  TO  SUBDIVISION THREE OF SECTION EIGHTEEN HUNDRED FIVE OF THIS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14840-02-4

S. 7257                             2

CHAPTER, AND WHICH IS NOT REDUCED BY ANY EXEMPTION  FROM  REAL  PROPERTY
TAXES.
  B.  "ANNUAL TAX" MEANS THE AMOUNT OF REAL PROPERTY TAX THAT IS IMPOSED
ON A PROPERTY FOR A FISCAL YEAR,  DETERMINED  AFTER  REDUCTION  FOR  ANY
AMOUNT  FROM  WHICH THE PROPERTY IS EXEMPT, OR WHICH IS ABATED, PURSUANT
TO APPLICABLE LAW.
  C. "ANNUAL TAX ATTRIBUTABLE TO IMPROVEMENTS" MEANS THE AMOUNT OF  REAL
PROPERTY TAX THAT IS IMPOSED ON A PROPERTY FOR A FISCAL YEAR, DETERMINED
AFTER  REDUCTION  FOR  ANY  AMOUNT FROM WHICH THE PROPERTY IS EXEMPT, OR
WHICH IS ABATED, PURSUANT TO APPLICABLE LAW, MULTIPLIED BY  A  FRACTION,
THE NUMERATOR OF WHICH IS EQUAL TO THE ASSESSED VALUATION OF THE PROPER-
TY  FOR SUCH FISCAL YEAR THAT IS ATTRIBUTABLE TO THE IMPROVEMENTS ON THE
PROPERTY, AND THE DENOMINATOR OF WHICH IS THE TOTAL  ASSESSED  VALUATION
OF THE PROPERTY FOR SUCH FISCAL YEAR.
  D.  "ASSESSED VALUATION" MEANS THE ASSESSED VALUATION OF REAL PROPERTY
THAT WAS USED TO DETERMINE THE ANNUAL TAX AS DEFINED IN PARAGRAPH  B  OF
THIS  SUBDIVISION,  AND  WHICH IS NOT REDUCED BY ANY EXEMPTION FROM REAL
PROPERTY TAXES. FOR REAL PROPERTY CLASSIFIED AS CLASS TWO OR CLASS  FOUR
REAL  PROPERTY AS DEFINED IN SUBDIVISION ONE OF SECTION EIGHTEEN HUNDRED
TWO OF THIS CHAPTER TO  WHICH  SUBDIVISION  THREE  OF  SECTION  EIGHTEEN
HUNDRED  FIVE  OF  THIS  CHAPTER APPLIES, UNLESS OTHERWISE PROVIDED, THE
ASSESSED VALUATION IS THE LOWER OF  THE  ACTUAL  ASSESSED  VALUATION  AS
DEFINED  IN  PARAGRAPH  A  OF THIS SUBDIVISION AND TRANSITIONAL ASSESSED
VALUATION AS DEFINED IN PARAGRAPH J OF THIS SUBDIVISION.
  E.  "ASSESSED  VALUATION  ATTRIBUTABLE  TO  IMPROVEMENTS"  MEANS  THAT
PORTION  OF  THE  ASSESSED  VALUATION  OF REAL PROPERTY THAT WAS USED TO
DETERMINE THE ANNUAL TAX ATTRIBUTABLE  TO  IMPROVEMENTS  AS  DEFINED  IN
PARAGRAPH  C  OF  THIS  SUBDIVISION,  AND  WHICH  IS  NOT REDUCED BY ANY
EXEMPTION FROM REAL PROPERTY TAXES.
  F. "COMMISSIONER OF FINANCE" MEANS THE COMMISSIONER OF  FINANCE  OF  A
CITY HAVING A POPULATION OF ONE MILLION OR MORE, OR HIS OR HER DESIGNEE.
  G.  "DEPARTMENT  OF FINANCE" MEANS THE DEPARTMENT OF FINANCE OF A CITY
HAVING A POPULATION OF ONE MILLION OR MORE.
  H. "IMPROVEMENTS" MEANS BUILDINGS AND OTHER ARTICLES  AND  STRUCTURES,
SUBSTRUCTURES AND SUPERSTRUCTURES ERECTED UPON, UNDER OR ABOVE THE LAND,
OR  AFFIXED  THERETO,  INCLUDING  BRIDGES  AND WHARVES AND PIERS AND THE
VALUE OF THE RIGHT TO COLLECT WHARFAGE, CRANAGE OR DOCKAGE THEREON.
  I. "TOTAL SQUARE FOOTAGE OF THE IMPROVEMENTS ON THE  PROPERTY"  MEANS,
WITH RESPECT TO A FISCAL YEAR, THE SQUARE FOOTAGE USED BY THE DEPARTMENT
OF  FINANCE  IN  DETERMINING  THE  ASSESSED  VALUATION  ATTRIBUTABLE  TO
IMPROVEMENTS ON THE PROPERTY FOR SUCH FISCAL YEAR.
  J. "TRANSITIONAL ASSESSED VALUATION" IS THE ASSESSED VALUATION  CALCU-
LATED  PURSUANT TO SUBDIVISION THREE OF SECTION EIGHTEEN HUNDRED FIVE OF
THIS CHAPTER, AND WHICH IS NOT REDUCED BY ANY EXEMPTION FROM REAL  PROP-
ERTY TAXES.
  3.  ELIGIBLE  REAL  PROPERTY.  FOR PURPOSES OF THIS SECTION, "ELIGIBLE
REAL PROPERTY" MEANS ANY TAX LOT THAT CONTAINED, ON THE APPLICABLE TAXA-
BLE STATUS DATE, CLASS ONE, CLASS TWO OR CLASS  FOUR  REAL  PROPERTY  AS
SUCH  CLASS  OF  REAL  PROPERTY IS DEFINED IN SUBDIVISION ONE OF SECTION
EIGHTEEN HUNDRED TWO OF THIS CHAPTER, AS TO WHICH:
  A. THE DEPARTMENT OF FINANCE REDUCED THE ASSESSED VALUATION  ATTRIBUT-
ABLE  TO  IMPROVEMENTS  ON THE PROPERTY FOR THE FISCAL YEAR BEGINNING ON
THE FIRST OF JULY, TWO THOUSAND THIRTEEN  FROM  THE  ASSESSED  VALUATION
ATTRIBUTABLE  TO IMPROVEMENTS ON THE PROPERTY FOR THE FISCAL YEAR BEGIN-
NING ON THE FIRST OF JULY, TWO THOUSAND TWELVE AS  A  RESULT  OF  DAMAGE

S. 7257                             3

CAUSED BY THE SEVERE STORM THAT OCCURRED ON THE TWENTY-NINTH AND THIRTI-
ETH OF OCTOBER, TWO THOUSAND TWELVE;
  B.  THE DEPARTMENT OF FINANCE INCREASED THE ASSESSED VALUATION ATTRIB-
UTABLE TO IMPROVEMENTS ON THE PROPERTY FOR THE FISCAL YEAR BEGINNING  ON
THE  FIRST  OF  JULY,  TWO THOUSAND FOURTEEN FROM THE ASSESSED VALUATION
ATTRIBUTABLE TO IMPROVEMENTS ON THE PROPERTY FOR THE FISCAL YEAR  BEGIN-
NING ON THE FIRST OF JULY, TWO THOUSAND THIRTEEN; AND
  C. THE ASSESSED VALUATION ATTRIBUTABLE TO IMPROVEMENTS ON THE PROPERTY
FOR  THE  FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO THOUSAND FOUR-
TEEN EXCEEDS THE ASSESSED VALUATION ATTRIBUTABLE TO IMPROVEMENTS ON  THE
PROPERTY  FOR  THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO THOU-
SAND TWELVE.
  4. AMOUNT OF PARTIAL ABATEMENT. A. EXCEPT AS PROVIDED IN  PARAGRAPH  C
OF  THIS  SUBDIVISION,  ELIGIBLE  REAL  PROPERTY SHALL RECEIVE A PARTIAL
ABATEMENT OF THE REAL PROPERTY TAXES DUE ON SUCH PROPERTY EQUAL  TO  THE
AMOUNT  BY  WHICH (1) THE ANNUAL TAX ON THE PROPERTY FOR THE FISCAL YEAR
BEGINNING ON THE FIRST OF JULY, TWO THOUSAND FOURTEEN  EXCEEDS  (2)  THE
ANNUAL TAX ON THE PROPERTY FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF
JULY, TWO THOUSAND TWELVE.
  B.  NOTWITHSTANDING  PARAGRAPH  A  OF  THIS  SUBDIVISION AND EXCEPT AS
PROVIDED IN PARAGRAPH C OF THIS SUBDIVISION, THE AMOUNT OF  THE  PARTIAL
ABATEMENT OF THE REAL PROPERTY TAXES DUE ON ELIGIBLE REAL PROPERTY CLAS-
SIFIED  AS  CLASS TWO OR CLASS FOUR REAL PROPERTY AS DEFINED IN SUBDIVI-
SION ONE OF SECTION EIGHTEEN HUNDRED TWO OF THIS CHAPTER TO WHICH SUBDI-
VISION THREE OF SECTION EIGHTEEN HUNDRED FIVE OF  THIS  CHAPTER  APPLIES
SHALL  BE EQUAL TO THE AMOUNT OF (1) THE INCREASE IN THE ACTUAL ASSESSED
VALUATION ATTRIBUTABLE TO AN ADDITION TO OR IMPROVEMENT OF THE  PROPERTY
AS PROVIDED IN SUBDIVISION FIVE OF SECTION EIGHTEEN HUNDRED FIVE OF THIS
CHAPTER FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO THOUSAND
FOURTEEN,  (2)  REDUCED BY THE INCREASE IN THE ACTUAL ASSESSED VALUATION
ATTRIBUTABLE TO AN  ADDITION  TO  OR  IMPROVEMENT  OF  THE  PROPERTY  AS
PROVIDED  IN  SUBDIVISION  FIVE OF SECTION EIGHTEEN HUNDRED FIVE OF THIS
CHAPTER FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO THOUSAND
FOURTEEN, MULTIPLIED BY A FRACTION, THE NUMERATOR OF WHICH IS THE  TRAN-
SITIONAL  ASSESSED  VALUATION FOR THE FISCAL YEAR BEGINNING ON THE FIRST
OF JULY, TWO THOUSAND THIRTEEN, AND THE  DENOMINATOR  OF  WHICH  IS  THE
ACTUAL  ASSESSED VALUATION FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF
JULY, TWO THOUSAND THIRTEEN, (3) MULTIPLIED BY  THE  REAL  PROPERTY  TAX
RATE THAT IS APPLICABLE TO THE PROPERTY FOR THE FISCAL YEAR BEGINNING ON
THE  FIRST  OF JULY, TWO THOUSAND FOURTEEN. ELIGIBLE REAL PROPERTY SHALL
NOT BE ELIGIBLE FOR AN ABATEMENT UNDER  THIS  SECTION  IF  THE  FRACTION
CALCULATED  IN SUBPARAGRAPH TWO OF THIS PARAGRAPH IS EQUAL TO OR GREATER
THAN ONE.
  C. IN THE EVENT THAT THE TOTAL SQUARE FOOTAGE OF THE  IMPROVEMENTS  ON
THE  PROPERTY  FOR  THE  FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO
THOUSAND FOURTEEN EXCEEDS THE TOTAL SQUARE FOOTAGE OF  THE  IMPROVEMENTS
ON  THE PROPERTY FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO
THOUSAND TWELVE, THE AMOUNT OF THE PARTIAL ABATEMENT SHALL BE THE AMOUNT
COMPUTED BY MULTIPLYING THE AMOUNT CALCULATED UNDER PARAGRAPH A OR B  OF
THIS  SUBDIVISION  BY A FRACTION, THE NUMERATOR OF WHICH IS EQUAL TO THE
AMOUNT OF THE TOTAL SQUARE FOOTAGE OF THE IMPROVEMENTS ON  THE  PROPERTY
FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO THOUSAND TWELVE,
AND  THE DENOMINATOR OF WHICH IS EQUAL TO THE AMOUNT OF THE TOTAL SQUARE
FOOTAGE OF THE IMPROVEMENTS ON THE PROPERTY FOR THE FISCAL  YEAR  BEGIN-
NING ON THE FIRST OF JULY, TWO THOUSAND FOURTEEN.

S. 7257                             4

  D.  FOR PROPERTY HELD IN THE COOPERATIVE FORM OF OWNERSHIP, THE ABATE-
MENT SHALL BE CREDITED TO EACH UNIT THEREIN IN AN AMOUNT EQUAL  TO  THAT
PROPORTION  OF  THE  AMOUNT  CALCULATED  UNDER  THIS SUBDIVISION THAT IS
ATTRIBUTABLE TO SUCH UNIT, AS DETERMINED BY THE  PROPORTIONAL  RELATION-
SHIP  OF  THE OWNER'S SHARE OR SHARES OF STOCK IN THE COOPERATIVE CORPO-
RATION THAT OWNS SUCH REAL PROPERTY TO THE TOTAL  OUTSTANDING  STOCK  OF
THE COOPERATIVE CORPORATION.
  E. ELIGIBLE REAL PROPERTY SHALL NOT BE ELIGIBLE FOR AN ABATEMENT UNDER
THIS  SECTION IF THE AMOUNT OF THE ABATEMENT CALCULATED PURSUANT TO THIS
SUBDIVISION EXCEEDS THE ANNUAL TAX ON THE PROPERTY FOR THE  FISCAL  YEAR
BEGINNING ON THE FIRST OF JULY, TWO THOUSAND FOURTEEN.
  5. RECOVERY OF ERRONEOUS ABATEMENT.
  A. FOR PURPOSES OF THIS SECTION, AN "ERRONEOUS ABATEMENT" MEANS THAT:
  (1) AN ABATEMENT WAS GRANTED TO A PROPERTY THAT WAS NOT ENTITLED TO AN
ABATEMENT UNDER THIS SECTION, OR
  (2)  AN  ABATEMENT  WAS  APPLIED  OR  CALCULATED  IN  ERROR UNDER THIS
SECTION. IN SUCH EVENT, THE AMOUNT OF THE ERRONEOUS ABATEMENT  SHALL  BE
EQUAL  TO  THE DIFFERENCE BETWEEN THE AMOUNT OF THE ABATEMENT ORIGINALLY
RECEIVED AND THE AMOUNT TO WHICH THE PROPERTY WAS ENTITLED.
  B. IF THE COMMISSIONER OF FINANCE DETERMINES THAT A PROPERTY  RECEIVED
AN ERRONEOUS ABATEMENT, HE OR SHE SHALL RECOVER SUCH ERRONEOUS ABATEMENT
BY  DEDUCTING  THE  AMOUNT OF THE ERRONEOUS ABATEMENT FROM ANY REFUND OR
REBATE OTHERWISE PAYABLE TO THE OWNER, AND ANY BALANCE OF THE AMOUNT  OF
THE  ERRONEOUS ABATEMENT REMAINING UNPAID SHALL CONSTITUTE A TAX LIEN ON
THE REAL PROPERTY, AS OF THE DUE AND PAYABLE DATE PROVIDED ON  THE  NEXT
TAX  BILL  MAILED BY THE COMMISSIONER OF FINANCE CONTAINING SUCH AMOUNT.
IF SUCH AMOUNT IS NOT PAID BY SUCH DUE AND PAYABLE DATE, INTEREST AT THE
RATE APPLICABLE TO DELINQUENT REAL PROPERTY TAXES ON SUCH PROPERTY SHALL
BE CHARGED AND COLLECTED ON SUCH AMOUNT FROM THE DUE  AND  PAYABLE  DATE
PROVIDED  ON  SUCH NOTICE TO THE DATE OF PAYMENT. SUCH TAX LIEN SHALL BE
ENFORCEABLE IN ACCORDANCE WITH THE PROVISIONS OF  LAW  RELATING  TO  THE
ENFORCEMENT OF TAX LIENS IN ANY SUCH CITY.
  6.  REDUCTION  OF  ASSESSED  VALUE. IF THE TAXABLE ASSESSED VALUE OF A
PROPERTY FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY,  TWO  THOU-
SAND  FOURTEEN  IS  REDUCED AFTER THE ASSESSMENT ROLL APPLICABLE TO SUCH
FISCAL YEAR BECOMES FINAL, ANY ABATEMENT  ALREADY  GRANTED  PURSUANT  TO
THIS  SECTION  SHALL BE ADJUSTED ACCORDINGLY. THE DIFFERENCE BETWEEN THE
ORIGINAL ABATEMENT AND THE ADJUSTED ABATEMENT SHALL BE DEDUCTED FROM ANY
CREDIT OTHERWISE DUE.
  7. RULEMAKING. THE COMMISSIONER OF  FINANCE  SHALL  BE  AUTHORIZED  TO
PROMULGATE RULES NECESSARY TO EFFECTUATE THE PURPOSES OF THIS SECTION.
  S 2. This act shall take effect immediately.

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Senate Bill S7257

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Sponsored By

Andrew J. Lanza