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Assembly Bill A1074A

2015-2016 Legislative Session

Provides that assessed values of cooperative units and condominiums shall not increase by more than 3% in the two years following resolution of tax certiorari proceedings

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

co-Sponsors

multi-Sponsors

2015-A1074 - Details

See Senate Version of this Bill:
S3181
Current Committee:
Assembly Housing
Law Section:
New York City Administrative Code
Laws Affected:
Add §11-240.2, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2011-2012: A9466, S6572
2013-2014: A915, S1866
2017-2018: A338, S5229
2019-2020: A250, S2946
2021-2022: A686, S4147
2023-2024: S1893

2015-A1074 - Summary

Provides that assessed values of cooperative units and condominiums shall not increase by more than 3% in the two years following resolution of tax certiorari proceedings.

2015-A1074 - Bill Text download pdf 

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

                                  1074

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             January 8, 2015
                               ___________

Introduced  by  M.  of  A.  BRAUNSTEIN,  WEPRIN,  DINOWITZ, GOLDFEDER --
  Multi-Sponsored by -- M. of  A.  MARKEY,  SIMOTAS  --  read  once  and
  referred to the Committee on Housing

AN  ACT  to  amend  the  administrative code of the city of New York, in
  relation to rates of increase of assessed values of cooperative  units
  and condominiums

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

  Section 1. The administrative code of the city of New York is  amended
by adding a new section 11-240.1 to read as follows:
  S  11-240.1  ASSESSMENTS  FOLLOWING  TAX  CERTIORARI  SETTLEMENT.  THE
ASSESSED VALUE OF REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE  CORPO-
RATION  OR  ON  A CONDOMINIUM BASIS SHALL INCREASE BY NO MORE THAN THREE
PERCENT IN THE TWO YEARS FOLLOWING  THE  RESOLUTION  OF  TAX  CERTIORARI
PROCEEDINGS ON SUCH PROPERTY.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02319-01-5

co-Sponsors

multi-Sponsors

2015-A1074A (ACTIVE) - Details

See Senate Version of this Bill:
S3181
Current Committee:
Assembly Housing
Law Section:
New York City Administrative Code
Laws Affected:
Add §11-240.2, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2011-2012: A9466, S6572
2013-2014: A915, S1866
2017-2018: A338, S5229
2019-2020: A250, S2946
2021-2022: A686, S4147
2023-2024: S1893

2015-A1074A (ACTIVE) - Summary

Provides that assessed values of cooperative units and condominiums shall not increase by more than 3% in the two years following resolution of tax certiorari proceedings.

2015-A1074A (ACTIVE) - Bill Text download pdf 

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

                                 1074--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             January 8, 2015
                               ___________

Introduced  by  M.  of  A.  BRAUNSTEIN,  WEPRIN,  DINOWITZ, GOLDFEDER --
  Multi-Sponsored by -- M. of  A.  MARKEY,  SIMOTAS  --  read  once  and
  referred  to  the Committee on Housing -- recommitted to the Committee
  on Housing in accordance with Assembly Rule 3,  sec.  2  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT  to  amend  the  administrative code of the city of New York, in
  relation to rates of increase of assessed values of cooperative  units
  and condominiums

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

  Section 1. The administrative code of the city of New York is  amended
by adding a new section 11-240.2 to read as follows:
  S  11-240.2  ASSESSMENTS  FOLLOWING  TAX  CERTIORARI  SETTLEMENT.  THE
ASSESSED VALUE OF REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE  CORPO-
RATION  OR  ON  A CONDOMINIUM BASIS SHALL INCREASE BY NO MORE THAN THREE
PERCENT IN THE TWO YEARS FOLLOWING  THE  RESOLUTION  OF  TAX  CERTIORARI
PROCEEDINGS ON SUCH PROPERTY.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02319-03-6

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