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Senate Bill S5919

2015-2016 Legislative Session

Relates to the limitation on increases of assessed value of certain individual class two properties

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Archive: Last Bill Status - In Senate Committee Local Government Committee

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2015-S5919 (ACTIVE) - Details

See Assembly Version of this Bill:
A10221
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง1805, RPT L
Versions Introduced in 2017-2018 Legislative Session:
S1871, A1358

2015-S5919 (ACTIVE) - Summary

Relates to the limitation on increases of assessed value of certain individual class two properties.

2015-S5919 (ACTIVE) - Sponsor Memo

2015-S5919 (ACTIVE) - Bill Text download pdf 

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

                                  5919

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              June 11, 2015
                               ___________

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

AN ACT to amend the real property tax law, in relation to the real prop-
  erty tax cap and certain class two properties

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

  Section  1.  The opening paragraph of subdivision 2 of section 1805 of
the real property tax law, as amended by chapter 586 of laws of 1992, is
amended to read as follows:
  The assessment roll of a special assessing unit wholly contained with-
in a city shall identify those parcels classified  in  class  two  which
have  fewer  than  eleven  residential units OR PARCELS WITH AN ASSESSED
VALUATION OF LESS THAN SEVENTY-FIVE THOUSAND DOLLARS.   The assessor  of
any such special assessing unit shall not increase the assessment of any
parcel  so  identified  in  any  one  year,  as measured from the actual
assessment on the previous year's assessment roll, by  more  than  eight
percent  and  shall  not  increase  such  assessment by more than thirty
percent in any five-year period. The first such five-year  period  shall
be  measured  from the individual assessment appearing on the assessment
roll completed in nineteen hundred eighty-one  provided  that,  if  such
parcel would not have been subject to the provisions of this subdivision
in nineteen hundred eighty-one had this subdivision then been in effect,
the  first  such  five-year period shall be measured from the first year
after nineteen hundred eighty-one in which this subdivision  applied  to
such  parcel  or  would have applied to such parcel had this subdivision
been in effect in such year.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11593-01-5

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