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Assembly Bill A321A

2015-2016 Legislative Session

Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2015-A321 - Details

See Senate Version of this Bill:
S1048
Current Committee:
Assembly Real Property Taxation
Law Section:
New York City Administrative Code
Laws Affected:
Add §11-239-1, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2013-2014: A9144, S5913
2017-2018: A1324, S1288
2019-2020: A3788, S2819
2021-2022: A401, S3432
2023-2024: A1379, S1088
2025-2026: A876, S2160

2015-A321 - Summary

Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year; applies only to class one and class two properties.

2015-A321 - Bill Text download pdf 

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

                                   321

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2015
                               ___________

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

AN ACT to amend the administrative code of the  city  of  New  York,  in
  relation  to prohibiting the city of New York from increasing property
  taxes where a property's assessed value has decreased in the  previous
  year

  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 11-239-a to read as follows:
  S  11-239-A  ASSESSMENTS  FOLLOWING  DECREASED VALUATION. THE ASSESSED
VALUE OF REAL PROPERTY SHALL NOT BE INCREASED FOR THE PERIOD OF  A  YEAR
AFTER SUCH PROPERTY'S ASSESSED VALUE HAS DECREASED.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01728-01-5

2015-A321A (ACTIVE) - Details

See Senate Version of this Bill:
S1048
Current Committee:
Assembly Real Property Taxation
Law Section:
New York City Administrative Code
Laws Affected:
Add §11-239-1, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2013-2014: A9144, S5913
2017-2018: A1324, S1288
2019-2020: A3788, S2819
2021-2022: A401, S3432
2023-2024: A1379, S1088
2025-2026: A876, S2160

2015-A321A (ACTIVE) - Summary

Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year; applies only to class one and class two properties.

2015-A321A (ACTIVE) - Bill Text download pdf 

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

                                 321--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by M. of A. ROZIC -- read once and referred to the Committee
  on Real Property  Taxation  --  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 prohibiting the city of New York from increasing  property
  taxes  where a property's assessed value has decreased in the previous
  year

  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 11-239.1 to read as follows:
  S 11-239.1 ASSESSMENTS FOLLOWING DECREASED VALUATION.  FOR A PERIOD OF
A YEAR AFTER A REAL PROPERTY'S MARKET VALUE HAS DECREASED, THE  ASSESSED
VALUE  OF SUCH PROPERTY SHALL BE THE LESSER OF THE ASSESSED VALUE IN THE
PRIOR YEAR OR THE PRODUCT OF  THE  ASSESSMENT  RATIO  TIMES  THE  MARKET
VALUE.  THIS SECTION SHALL APPLY ONLY TO CLASS ONE AND CLASS TWO PROPER-
TIES AS SUCH CLASSES ARE DEFINED IN SUBDIVISION ONE OF SECTION  EIGHTEEN
HUNDRED TWO OF THE REAL PROPERTY TAX LAW.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01728-03-5

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