Senate Bill S652

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

                                   652

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by  Sen. KENNEDY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the real property tax  law,  in  relation  to  providing
  certain real property a 15% tax exemption

  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 421-o to read as follows:
  S  421-O.  EXEMPTION  OF CERTAIN RESIDENTIAL PROPERTY FROM LOCAL TAXA-
TION. 1. NOTWITHSTANDING THE PROVISIONS OF ANY GENERAL, SPECIAL OR LOCAL
LAW TO THE CONTRARY, THE LOCAL LEGISLATIVE BODY OF  ANY  CITY,  TOWN  OR
VILLAGE  IS  HEREBY  AUTHORIZED AND EMPOWERED TO ADOPT AND AMEND A LOCAL
LAW TO PROVIDE THAT REAL PROPERTY:
  (A) HELD IN CONDOMINIUM FORM OF OWNERSHIP;
  (B) THAT OTHERWISE SATISFIES THE PROVISIONS AND COMMON ELEMENTS ESTAB-
LISHED BY ARTICLE NINE-B OF THE REAL PROPERTY LAW FOR  CLASSIFYING  REAL
PROPERTY AS A CONDOMINIUM; AND
  (C) BUT FOR THE FAILURE OF THE DEVELOPER OR OWNER OF SUCH REAL PROPER-
TY  TO  FILE  THE  NECESSARY APPLICATION REQUIRED TO OBTAIN THE SEPARATE
ASSESSMENT AND TAXATION PROVIDED IN SECTION THREE HUNDRED  THIRTY-NINE-Y
OF THE REAL PROPERTY LAW, MAY HAVE BEEN ELIGIBLE FOR SUCH ASSESSMENT AND
TAXATION, SHALL BE EXEMPT FROM TAXATION TO THE EXTENT OF FIFTEEN PERCENT
OF THE ASSESSED VALUE OF SUCH PROPERTY.
  2.  THE  EXEMPTION  FROM  TAXATION  PROVIDED  BY THIS SECTION SHALL BE
APPLICABLE TO COUNTY, CITY, SCHOOL, TOWN AND VILLAGE TAXATION.
  3. APPLICATION FOR EXEMPTION MUST BE MADE BY THE OWNER, OR ALL OF  THE
OWNERS,  OF  SUCH  PROPERTY  ON A FORM PRESCRIBED BY THE COMMISSIONER OF
TAXATION AND FINANCE. THE OWNER OR OWNERS SHALL FILE THE COMPLETED  FORM
IN  THE  ASSESSOR'S  OFFICE ON OR BEFORE THE APPROPRIATE TAXABLE  STATUS
DATE. PROVIDED THAT ALL ELIGIBILITY CRITERIA OF THIS  SECTION  ARE  MET,

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

                                                           LBD03219-01-5

S. 652                              2

THE  EXEMPTION SHALL CONTINUE IN FULL FORCE AND EFFECT FOR ALL APPROPRI-
ATE SUBSEQUENT TAX YEARS AND THE OWNER OR OWNERS OF THE  PROPERTY  SHALL
NOT BE REQUIRED TO RE-FILE EACH YEAR.
  4. A LOCAL LAW ADOPTED PURSUANT TO THIS SUBDIVISION MAY BE REPEALED BY
THE  GOVERNING  BOARD  OF  THE APPLICABLE COUNTY, CITY, TOWN OR VILLAGE.
SUCH REPEAL SHALL OCCUR AT LEAST NINETY DAYS PRIOR TO THE TAXABLE STATUS
DATE OF SUCH COUNTY, CITY, TOWN OR VILLAGE.
  5. NOTWITHSTANDING THE FOREGOING PROVISIONS OF THIS SECTION, NO  LATER
THAN  NINETY  DAYS  BEFORE  THE  TAXABLE STATUS DATE NEXT OCCURRING, THE
GOVERNING BOARD OF ANY COUNTY, CITY, TOWN OR VILLAGE MAY ADOPT  A  LOCAL
LAW  TO  PROVIDE  THAT  NO  EXEMPTION  SHALL BE GRANTED PURSUANT TO THIS
SECTION FOR THE PURPOSE OF TAXES LEVIED FOR SUCH COUNTY, CITY,  TOWN  OR
VILLAGE.
  S 2. This act shall take effect immediately.