S T A T E O F N E W Y O R K
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5919
2015-2016 Regular Sessions
I N S E N A T E
June 11, 2015
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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