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Assembly Bill A2053

2015-2016 Legislative Session

Requires real property in New York City to be assessed using a fair comparative

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Archive: Last Bill Status - In Assembly Committee

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2015-A2053 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง581, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7326
2017-2018: A4270
2019-2020: A1711
2021-2022: A1268

2015-A2053 (ACTIVE) - Summary

Requires real property in New York City to be assessed using a fair comparative.

2015-A2053 (ACTIVE) - Bill Text download pdf 

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

                                  2053

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 15, 2015
                               ___________

Introduced  by M. of A. QUART -- read once and referred to the Committee
  on Real Property Taxation

AN ACT to amend the real property tax law, in relation to requiring real
  property to be assessed using a fair comparative

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Paragraph (a) of subdivision 1 of section 581 of the real
property tax law, as amended by chapter 223 of  the  laws  of  1989,  is
amended to read as follows:
  (a) Notwithstanding any other provision of law, real property owned or
leased  by  a cooperative corporation or on a condominium basis shall be
assessed for purposes of this chapter at a sum not exceeding the assess-
ment which would be placed upon such parcel were the parcel not owned or
leased by a cooperative corporation or on  a  condominium  basis.  IN  A
SPECIAL  ASSESSING UNIT THAT IS A CITY, NOTHING IN THIS SECTION SHALL BE
CONSTRUED TO REQUIRE THE USE OF RENT-REGULATED PROPERTIES AS  COMPARISON
PROPERTIES  FOR  ASSESSMENT  PURPOSES. FOR THE PURPOSE OF THIS PARAGRAPH
ONLY, THE TERM "RENT-REGULATED PROPERTIES" SHALL MEAN  HOUSING  ACCOMMO-
DATIONS  WHICH ARE SUBJECT TO THE REGULATIONS AND CONTROL OF RESIDENTIAL
RENTS AND EVICTIONS PURSUANT TO THE EMERGENCY HOUSING RENT CONTROL  LAW,
THE  LOCAL  EMERGENCY  HOUSING  RENT  CONTROL  ACT, THE EMERGENCY TENANT
PROTECTION ACT OF NINETEEN SEVENTY-FOUR, THE  NEW  YORK  CITY  RENT  AND
REHABILITATION  LAW OR THE NEW YORK CITY RENT STABILIZATION LAW OF NINE-
TEEN HUNDRED SIXTY-NINE. FOR THE PURPOSE OF  THIS  PARAGRAPH  ONLY,  THE
TERM  "COMPARISON PROPERTIES" SHALL MEAN ANY REAL PROPERTY CONSIDERED BY
AN ASSESSOR TO BE SUFFICIENTLY SIMILAR  TO  A  SUBJECT  PROPERTY  TO  BE
COMPARED TO IT TO DETERMINE THE SUBJECT PROPERTY'S ASSESSMENT.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04500-01-5

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