NY State Senate Bill 2015-S7847C

Senate Bill S7847C

Signed By Governor

2015-2016 Legislative Session

Relates to an exemption of capital improvements to multiple dwelling buildings within certain cities

download bill text pdf

Archive: Last Bill Status Via A10214 - Signed by Governor

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Nov 04, 2016	signed chap.417
Oct 26, 2016	delivered to governor
Jun 16, 2016	returned to assembly passed senate 3rd reading cal.1361 substituted for s7847c
Jun 16, 2016	substituted by a10214d
Jun 07, 2016	advanced to third reading amended 7847c
Jun 06, 2016	2nd report cal. amended 7847b
Jun 02, 2016	1st report cal.1361
May 20, 2016	print number 7847a
May 20, 2016	amend (t) and recommit to housing, construction and community development
May 17, 2016	referred to housing, construction and community development

Votes

- Jun 16, 2016 - Floor Vote
  A10214
  
  61
  
  Aye
  
  1
  
  Nay
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 16, 2016
      
      aye (61)
      
      Addabbo Jr.
      
      Akshar
      
      Amedore
      
      Avella
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Carlucci
      
      Comrie
      
      Croci
      
      DeFrancisco
      
      Dilan
      
      Espaillat
      
      Farley
      
      Felder
      
      Flanagan
      
      Funke
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Griffo
      
      Hannon
      
      Hassell-Thompson
      
      Hoylman-Sigal
      
      Kaminsky
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Latimer
      
      Little
      
      Marcellino
      
      Marchione
      
      Martins
      
      Montgomery
      
      Murphy
      
      Nozzolio
      
      O'Mara
      
      Ortt
      
      Panepinto
      
      Parker
      
      Peralta
      
      Perkins
      
      Persaud
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Sanders Jr.
      
      Savino
      
      Serino
      
      Serrano
      
      Seward
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Valesky
      
      Venditto
      
      Young
      
      nay (1)
      
      Hamilton
      
      excused (1)
      
      Diaz
  Jun 2, 2016 - Housing, Construction And Community Development Committee Vote
  S7847C
  
  7
  
  Aye
  
  0
  
  Nay
  
  2
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Housing, Construction And Community Development Committee Vote: Jun 2, 2016
      
      aye (7)
      
      Bonacic
      
      Boyle
      
      Gallivan
      
      Krueger
      
      Little
      
      Panepinto
      
      Young
      
      aye wr (2)
      
      Avella
      
      Espaillat

Bill Amendments

Original

C (Active)

2015-S7847 - Details

See Assembly Version of this Bill:: A10214
Law Section:: Real Property Tax Law
Laws Affected:: Add §421-o, RPT L

2015-S7847 - Summary

Relates to an exemption of capital improvements to multiple dwelling buildings within certain cities.

2015-S7847 - Sponsor Memo

                                 BILL NUMBER:  S7847

 TITLE OF BILL :

An act to amend the real property tax law, in relation to an exemption
of capital improvements to certain residential buildings within
certain cities

 PURPOSE OR GENERAL IDEA OF BILL :

To provide cities with a population of more than ten-thousand
inhabitants and fewer than twelve thousand inhabitants the authority
to pass a local law authorizing a real property tax exemption program
that exempts from taxation the additional valuation for capital
improvements to certain residential single and multi-family
properties.

 SUMMARY OF SPECIFIC PROVISIONS :

Amends the real property tax law by adding a new section 421-o. This
legislation would authorize, at the city of Coming's option, to pass a
local resolution authorizing a 12-year real property tax exemption
program for single and multiple dwelling residences that are
renovated, reconstructed and given general improvements. The exemption
covers the increase in assessment value of such properties resulting
from reconstruction, alteration, and improvements. The dollar increase

in assessed value in the initial year shall be referred to as an
"exemption base." Qualifying residential units will be entitled to a
100% tax exemption for the value of such improvements one year after
the assessment increase, and the exemption shall decrease by 8.3% of
the original "exemption base" over the subsequent 11 years. The
criteria for eligibility pertaining to the nature of the
reconstruction, alteration, and improvements are contained within the
provisions of the bill.

 JUSTIFICATION :

This legislation will allow for the city of Corning, at their option,
to embark upon an organized effort to rehabilitate portions of the
city where certain single and multi-family residential dwellings have
fallen into disrepair. This program will provide property owners who
renovate, rehabilitate and make improvements to these properties a
12-year tax exemption from the increased assessed value of these
improvements, with such exemption tapering off for a period of 12
years subsequent to obtaining approval by the city. This will help
ease the financial burden on individuals who are interesting in
rehabilitating these residential units within the city, thus helping
contribute to a broader series of efforts the city has embarked upon
to revitalize the area. In particular, many multi-family residential
units end up with major wear and tear, and are therefore in need of
substantial rehabilitation.

 PRIOR LEGISLATIVE HISTORY :

This is a new bill.

 FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS :

None.

 EFFECTIVE DATE :
This act shall take effect on the first of January next succeeding the
date this bill shall have become law.

2015-S7847 - Bill Text download pdf

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

    S. 7847                                                 A. 10214

                      S E N A T E - A S S E M B L Y

                              May 17, 2016
                               ___________

IN  SENATE -- Introduced by Sen. O'MARA -- read twice and ordered print-
  ed, and when printed to be committed  to  the  Committee  on  Housing,
  Construction and Community Development

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

AN ACT to amend the real property tax law, in relation to  an  exemption
  of  capital  improvements  to  certain  residential  buildings  within
  certain cities

  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  CAPITAL  IMPROVEMENTS  TO  CERTAIN  RESIDENTIAL
BUILDINGS  WITHIN  CERTAIN CITIES. 1. RESIDENTIAL BUILDINGS DESIGNED AND
OCCUPIED EXCLUSIVELY FOR RESIDENTIAL PURPOSES  BY  NOT  MORE  THAN  FOUR
FAMILIES  LOCATED IN ANY CITY HAVING A POPULATION OF MORE THAN TEN THOU-
SAND INHABITANTS BUT FEWER THAN TWELVE THOUSAND INHABITANTS,  DETERMINED
IN  ACCORDANCE WITH THE LATEST FEDERAL DECENNIAL CENSUS, THAT ARE RECON-
STRUCTED, ALTERED OR IMPROVED SUBSEQUENT TO  THE  EFFECTIVE  DATE  OF  A
LOCAL  LAW  OR  RESOLUTION PURSUANT TO THIS SECTION SHALL BE EXEMPT FROM
TAXATION AND SPECIAL AD VALOREM LEVIES TO THE EXTENT PROVIDED HEREINAFT-
ER. AFTER A PUBLIC HEARING, THE GOVERNING BOARD OF SUCH CITY MAY ADOPT A
LOCAL LAW TO GRANT THE EXEMPTION AUTHORIZED PURSUANT TO THIS SECTION.  A
COPY  OF  SUCH  LOCAL  LAW  SHALL BE FILED WITH THE COMMISSIONER AND THE
ASSESSOR OF SUCH CITY WHO PREPARES THE  ASSESSMENT  ROLL  ON  WHICH  THE
TAXES OF SUCH CITY ARE LEVIED.
  2. (A) SUCH BUILDINGS WITHIN SUCH CITY SHALL BE EXEMPT FOR A PERIOD OF
ONE  YEAR  TO  THE  EXTENT  OF  ONE  HUNDRED  PERCENT OF THE INCREASE IN
ASSESSED  VALUE  ATTRIBUTABLE  TO  SUCH  RECONSTRUCTION,  ALTERATION  OR
IMPROVEMENT  AND  FOR AN ADDITIONAL PERIOD OF SEVEN YEARS SUBJECT TO THE
FOLLOWING:
  (I) THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY EIGHT AND  ONE-
THIRD  PERCENT  OF THE "EXEMPTION BASE" EACH YEAR DURING SUCH ADDITIONAL

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

                                                           LBD15431-01-6

S. 7847                             2                           A. 10214

PERIOD. THE "EXEMPTION BASE" SHALL BE THE INCREASE IN ASSESSED VALUE  AS
DETERMINED  IN  THE INITIAL YEAR OF THE TERM OF THE EXEMPTION, EXCEPT AS
PROVIDED IN SUBPARAGRAPH (II) OF THIS PARAGRAPH.
  (II)  IN  ANY YEAR IN WHICH A CHANGE IN LEVEL OF ASSESSMENT OF FIFTEEN
PERCENT OR MORE IS CERTIFIED FOR A FINAL ASSESSMENT ROLL PURSUANT TO THE
RULES OF THE COMMISSIONER, THE EXEMPTION BASE SHALL BE MULTIPLIED  BY  A
FRACTION,  THE  NUMERATOR  OF WHICH SHALL BE THE TOTAL ASSESSED VALUE OF
THE PARCEL ON SUCH FINAL ASSESSMENT ROLL (AFTER ACCOUNTING FOR ANY PHYS-
ICAL OR QUANTITY CHANGES TO THE PARCEL SINCE THE  IMMEDIATELY  PRECEDING
ASSESSMENT  ROLL),  AND  THE  DENOMINATOR  OF  WHICH  SHALL BE THE TOTAL
ASSESSED VALUE OF THE PARCEL ON THE IMMEDIATELY PRECEDING FINAL  ASSESS-
MENT  ROLL.  THE  RESULT  SHALL BE THE NEW EXEMPTION BASE. THE EXEMPTION
SHALL THEREUPON BE RECOMPUTED TO TAKE INTO  ACCOUNT  THE  NEW  EXEMPTION
BASE,  NOTWITHSTANDING THE FACT THAT THE ASSESSOR RECEIVES CERTIFICATION
OF THE CHANGE IN LEVEL OF ASSESSMENT AFTER THE COMPLETION,  VERIFICATION
AND  FILING OF THE FINAL ASSESSMENT ROLL. IN THE EVENT THE ASSESSOR DOES
NOT HAVE CUSTODY OF THE ROLL WHEN SUCH CERTIFICATION  IS  RECEIVED,  THE
ASSESSOR  SHALL  CERTIFY  THE RECOMPUTED EXEMPTION TO THE LOCAL OFFICERS
HAVING CUSTODY AND CONTROL OF THE ROLL,  AND  SUCH  LOCAL  OFFICERS  ARE
HEREBY  DIRECTED AND AUTHORIZED TO ENTER THE RECOMPUTED EXEMPTION CERTI-
FIED BY THE ASSESSOR ON THE ROLL. THE ASSESSOR SHALL GIVE WRITTEN NOTICE
OF SUCH RECOMPUTED EXEMPTION TO THE PROPERTY OWNER, WHO MAY,  IF  HE  OR
SHE  BELIEVES THAT THE EXEMPTION WAS RECOMPUTED INCORRECTLY, APPLY FOR A
CORRECTION IN THE MANNER PROVIDED BY TITLE THREE OF ARTICLE FIVE OF THIS
CHAPTER FOR THE CORRECTION OF CLERICAL ERRORS.
  (III) SUCH EXEMPTION SHALL BE LIMITED TO ONE HUNDRED THOUSAND  DOLLARS
IN INCREASED MARKET VALUE, OR SUCH OTHER SUM LESS THAN ONE HUNDRED THOU-
SAND  DOLLARS, BUT NOT LESS THAN TEN THOUSAND DOLLARS AS MAY BE PROVIDED
BY THE LOCAL LAW OR RESOLUTION, OF THE  PROPERTY  ATTRIBUTABLE  TO  SUCH
RECONSTRUCTION,  ALTERATION  OR  IMPROVEMENT  AND ANY INCREASE IN MARKET
VALUE GREATER THAN SUCH AMOUNT SHALL NOT BE ELIGIBLE FOR  THE  EXEMPTION
PURSUANT  TO  THIS SECTION. FOR THE PURPOSES OF THIS SECTION, THE MARKET
VALUE OF THE RECONSTRUCTION, ALTERATION OR IMPROVEMENT SHALL BE EQUAL TO
THE INCREASED ASSESSED VALUE ATTRIBUTABLE TO SUCH RECONSTRUCTION, ALTER-
ATION OR IMPROVEMENT DIVIDED BY  THE  MOST  RECENTLY  ESTABLISHED  STATE
EQUALIZATION  RATE  FOR  SUCH CITY. WHERE THE STATE EQUALIZATION RATE OR
SPECIAL EQUALIZATION RATE EQUALS OR  EXCEEDS  NINETY-FIVE  PERCENT,  THE
INCREASE  IN  ASSESSED VALUE ATTRIBUTABLE TO SUCH RECONSTRUCTION, ALTER-
ATION OR IMPROVEMENT SHALL BE DEEMED TO EQUAL THE MARKET VALUE  OF  SUCH
RECONSTRUCTION, ALTERATION OR IMPROVEMENT.
  (B) NO SUCH EXEMPTION SHALL BE GRANTED FOR RECONSTRUCTION, ALTERATIONS
OR IMPROVEMENTS UNLESS:
  (I)  SUCH  RECONSTRUCTION,  ALTERATION  OR  CONVERTED  IMPROVEMENT WAS
COMMENCED SUBSEQUENT TO THE EFFECTIVE DATE  OF  THE  LOCAL  LAW  ADOPTED
PURSUANT TO SUBDIVISION ONE OF THIS SECTION BY SUCH CITY;
  (II)  THE  VALUE  OF  SUCH  RECONSTRUCTION,  ALTERATION OR IMPROVEMENT
EXCEEDS FIVE THOUSAND DOLLARS; AND
  (III) THE GREATER PORTION, AS SO DETERMINED BY SQUARE FOOTAGE, OF  THE
BUILDING RECONSTRUCTED, ALTERED OR IMPROVED IS AT LEAST FIVE YEARS OLD.
  (C)  FOR PURPOSES OF THIS SECTION THE TERMS RECONSTRUCTION, ALTERATION
AND IMPROVEMENT SHALL NOT INCLUDE ORDINARY MAINTENANCE AND REPAIRS.
  3. SUCH EXEMPTION SHALL BE GRANTED ONLY UPON APPLICATION BY THE  OWNER
OF  SUCH BUILDING ON A FORM PRESCRIBED BY THE COMMISSIONER. THE APPLICA-
TION SHALL BE FILED WITH THE ASSESSOR OF SUCH  CITY  ON  OR  BEFORE  THE
APPROPRIATE TAXABLE STATUS DATE OF SUCH CITY.

S. 7847                             3                           A. 10214

  4.  IF SATISFIED THAT THE APPLICANT IS ENTITLED TO AN EXEMPTION PURSU-
ANT TO THIS SECTION, THE ASSESSOR SHALL APPROVE THE APPLICATION AND SUCH
BUILDING SHALL THEREAFTER BE EXEMPT FROM TAXATION AND SPECIAL AD VALOREM
LEVIES AS PROVIDED IN THIS SECTION COMMENCING WITH THE  ASSESSMENT  ROLL
PREPARED ON THE BASIS OF THE TAXABLE STATUS DATE REFERRED TO IN SUBDIVI-
SION  THREE OF THIS SECTION. THE ASSESSED VALUE OF ANY EXEMPTION GRANTED
PURSUANT TO THIS SECTION SHALL BE ENTERED BY THE ASSESSOR ON THE ASSESS-
MENT ROLL WITH THE TAXABLE PROPERTY, WITH THE AMOUNT  OF  THE  EXEMPTION
SHOWN IN A SEPARATE COLUMN.
  5.  IN THE EVENT THAT A BUILDING GRANTED AN EXEMPTION PURSUANT TO THIS
SECTION CEASES TO BE USED PRIMARILY FOR RESIDENTIAL  PURPOSES  OR  TITLE
THERETO  IS  TRANSFERRED  TO OTHER THAN THE HEIRS OR DISTRIBUTEES OF THE
OWNER, THE EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL CEASE.
  6. (A) THE ENACTMENT OF A LOCAL LAW IN SUCH CITY MAY:
  (I) REDUCE THE PERCENT OF EXEMPTION OTHERWISE ALLOWED PURSUANT TO THIS
SECTION;
  (II) LIMIT ELIGIBILITY FOR THE EXEMPTION  TO  THOSE  FORMS  OF  RECON-
STRUCTION,  ALTERATIONS  OR IMPROVEMENTS AS ARE PRESCRIBED IN SUCH LOCAL
LAW OR RESOLUTION;
  (III) PROVIDE THAT THE EXEMPTION SHALL BE  APPLICABLE  ONLY  TO  THOSE
IMPROVEMENTS WHICH WOULD OTHERWISE RESULT IN AN INCREASE IN THE ASSESSED
VALUATION  OF THE REAL PROPERTY BUT WHICH CONSIST OF AN ADDITION, REMOD-
ELING OR MODERNIZATION TO AN EXISTING RESIDENCE  BUILDING  STRUCTURE  TO
PREVENT PHYSICAL DETERIORATION OF THE STRUCTURE OR TO COMPLY WITH APPLI-
CABLE BUILDING, SANITARY, HEALTH AND/OR FIRE CODES.
  (B)  NO  SUCH  LOCAL  LAW  SHALL REDUCE OR REPEAL AN EXEMPTION GRANTED
PURSUANT TO THIS SECTION UNTIL THE EXPIRATION OF THE  PERIOD  FOR  WHICH
SUCH EXEMPTION WAS GRANTED.
  S  2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.

2015-S7847A - Details

See Assembly Version of this Bill:: A10214
Law Section:: Real Property Tax Law
Laws Affected:: Add §421-o, RPT L

2015-S7847A - Summary

Relates to an exemption of capital improvements to multiple dwelling buildings within certain cities.

2015-S7847A - Sponsor Memo

                                 BILL NUMBER:  S7847A

 TITLE OF BILL :

An act to amend the real property tax law, in relation to an exemption
of capital improvements to multiple dwelling buildings within certain
cities

 PURPOSE OR GENERAL IDEA OF BILL :

To provide cities with a population of more than ten-thousand
inhabitants and fewer than twelve thousand inhabitants the authority
to pass a local law authorizing a real property tax exemption program
that exempts from taxation the additional valuation for capital
improvements to certain residential single and multi-family
properties.

 SUMMARY OF SPECIFIC PROVISIONS :

Amends the real property tax law by adding a new section 421-o. This
legislation would authorize, at the city of Coming's option, to pass a
local resolution authorizing a 12-year real property tax exemption
program for single and multiple dwelling residences that are
renovated, reconstructed and given general improvements. The exemption
covers the increase in assessment value of such properties resulting
from reconstruction, alteration, and improvements. The dollar increase

in assessed value in the initial year shall be referred to as an
"exemption base." Qualifying residential units will be entitled to a
100% tax exemption for the value of such improvements one year after
the assessment increase, and the exemption shall decrease by 8.3% of
the original "exemption base" over the subsequent 11 years. The
criteria for eligibility pertaining to the nature of the
reconstruction, alteration, and improvements are contained within the
provisions of the bill.

 JUSTIFICATION :

This legislation will allow for the city of Corning, at their option,
to embark upon an organized effort to rehabilitate portions of the
city where certain single and multi-family residential dwellings have
fallen into disrepair. This program will provide property owners who
renovate, rehabilitate and make improvements to these properties a
12-year tax exemption from the increased assessed value of these
improvements, with such exemption tapering off for a period of 12
years subsequent to obtaining approval by the city. This will help
ease the financial burden on individuals who are interesting in
rehabilitating these residential units within the city, thus helping
contribute to a broader series of efforts the city has embarked upon
to revitalize the area. In particular, many multi-family residential
units end up with major wear and tear, and are therefore in need of
substantial rehabilitation.

 PRIOR LEGISLATIVE HISTORY :

This is a new bill.

 FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS :

None.

 EFFECTIVE DATE :
This act shall take effect on the first of January next succeeding the
date this bill shall have become law.

2015-S7847A - Bill Text download pdf

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

    S. 7847--A                                           A. 10214--A

                      S E N A T E - A S S E M B L Y

                              May 17, 2016
                               ___________

IN  SENATE -- Introduced by Sen. O'MARA -- read twice and ordered print-
  ed, and when printed to be committed  to  the  Committee  on  Housing,
  Construction  and  Community Development -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

IN  ASSEMBLY  --  Introduced  by  M.  of  A.  PALMESANO -- 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 real property tax law, in relation to an exemption
  of capital improvements to multiple dwelling buildings within  certain
  cities

  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 CAPITAL IMPROVEMENTS TO MULTIPLE DWELLING BUILD-
INGS  WITHIN  CERTAIN  CITIES.  1.  MULTIPLE  DWELLING BUILDINGS, RECON-
STRUCTED, ALTERED, CONVERTED BACK TO AN  OWNER  OCCUPIED  SINGLE  FAMILY
DWELLING  LOCATED IN ANY CITY HAVING A POPULATION OF MORE THAN TEN THOU-
SAND INHABITANTS BUT FEWER THAN TWELVE THOUSAND INHABITANTS,  DETERMINED
IN  ACCORDANCE WITH THE LATEST FEDERAL DECENNIAL CENSUS, THAT ARE RECON-
STRUCTED, ALTERED OR IMPROVED SUBSEQUENT TO  THE  EFFECTIVE  DATE  OF  A
LOCAL  LAW  OR  RESOLUTION PURSUANT TO THIS SECTION SHALL BE EXEMPT FROM
TAXATION AND SPECIAL AD VALOREM LEVIES TO THE EXTENT PROVIDED HEREINAFT-
ER. AFTER A PUBLIC HEARING, THE GOVERNING BOARD OF SUCH CITY MAY ADOPT A
LOCAL LAW TO GRANT THE EXEMPTION AUTHORIZED PURSUANT TO THIS SECTION.  A
COPY  OF  SUCH  LOCAL  LAW  SHALL BE FILED WITH THE COMMISSIONER AND THE
ASSESSOR OF SUCH CITY WHO PREPARES THE  ASSESSMENT  ROLL  ON  WHICH  THE
TAXES OF SUCH CITY ARE LEVIED.
  2. (A) SUCH BUILDINGS WITHIN SUCH CITY SHALL BE EXEMPT FOR A PERIOD OF
ONE  YEAR  TO  THE  EXTENT  OF  ONE  HUNDRED  PERCENT OF THE INCREASE IN
ASSESSED  VALUE  ATTRIBUTABLE  TO  SUCH  RECONSTRUCTION,  ALTERATION  OR

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

                                                           LBD15431-02-6

S. 7847--A                          2                        A. 10214--A

IMPROVEMENT  AND  FOR AN ADDITIONAL PERIOD OF SEVEN YEARS SUBJECT TO THE
FOLLOWING:
  (I)  THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY EIGHT AND ONE-
THIRD PERCENT OF THE "EXEMPTION BASE" EACH YEAR DURING  SUCH  ADDITIONAL
PERIOD.  THE "EXEMPTION BASE" SHALL BE THE INCREASE IN ASSESSED VALUE AS
DETERMINED IN THE INITIAL YEAR OF THE TERM OF THE EXEMPTION,  EXCEPT  AS
PROVIDED IN SUBPARAGRAPH (II) OF THIS PARAGRAPH.
  (II)  IN  ANY YEAR IN WHICH A CHANGE IN LEVEL OF ASSESSMENT OF FIFTEEN
PERCENT OR MORE IS CERTIFIED FOR A FINAL ASSESSMENT ROLL PURSUANT TO THE
RULES OF THE COMMISSIONER, THE EXEMPTION BASE SHALL BE MULTIPLIED  BY  A
FRACTION,  THE  NUMERATOR  OF WHICH SHALL BE THE TOTAL ASSESSED VALUE OF
THE PARCEL ON SUCH FINAL ASSESSMENT ROLL (AFTER ACCOUNTING FOR ANY PHYS-
ICAL OR QUANTITY CHANGES TO THE PARCEL SINCE THE  IMMEDIATELY  PRECEDING
ASSESSMENT  ROLL),  AND  THE  DENOMINATOR  OF  WHICH  SHALL BE THE TOTAL
ASSESSED VALUE OF THE PARCEL ON THE IMMEDIATELY PRECEDING FINAL  ASSESS-
MENT  ROLL.  THE  RESULT  SHALL BE THE NEW EXEMPTION BASE. THE EXEMPTION
SHALL THEREUPON BE RECOMPUTED TO TAKE INTO  ACCOUNT  THE  NEW  EXEMPTION
BASE,  NOTWITHSTANDING THE FACT THAT THE ASSESSOR RECEIVES CERTIFICATION
OF THE CHANGE IN LEVEL OF ASSESSMENT AFTER THE COMPLETION,  VERIFICATION
AND  FILING OF THE FINAL ASSESSMENT ROLL. IN THE EVENT THE ASSESSOR DOES
NOT HAVE CUSTODY OF THE ROLL WHEN SUCH CERTIFICATION  IS  RECEIVED,  THE
ASSESSOR  SHALL  CERTIFY  THE RECOMPUTED EXEMPTION TO THE LOCAL OFFICERS
HAVING CUSTODY AND CONTROL OF THE ROLL,  AND  SUCH  LOCAL  OFFICERS  ARE
HEREBY  DIRECTED AND AUTHORIZED TO ENTER THE RECOMPUTED EXEMPTION CERTI-
FIED BY THE ASSESSOR ON THE ROLL. THE ASSESSOR SHALL GIVE WRITTEN NOTICE
OF SUCH RECOMPUTED EXEMPTION TO THE PROPERTY OWNER, WHO MAY,  IF  HE  OR
SHE  BELIEVES THAT THE EXEMPTION WAS RECOMPUTED INCORRECTLY, APPLY FOR A
CORRECTION IN THE MANNER PROVIDED BY TITLE THREE OF ARTICLE FIVE OF THIS
CHAPTER FOR THE CORRECTION OF CLERICAL ERRORS.
  (III) SUCH EXEMPTION SHALL BE LIMITED TO ONE HUNDRED THOUSAND  DOLLARS
IN INCREASED MARKET VALUE, OR SUCH OTHER SUM LESS THAN ONE HUNDRED THOU-
SAND  DOLLARS, BUT NOT LESS THAN TEN THOUSAND DOLLARS AS MAY BE PROVIDED
BY THE LOCAL LAW OR RESOLUTION, OF THE  PROPERTY  ATTRIBUTABLE  TO  SUCH
RECONSTRUCTION,  ALTERATION  OR  IMPROVEMENT  AND ANY INCREASE IN MARKET
VALUE GREATER THAN SUCH AMOUNT SHALL NOT BE ELIGIBLE FOR  THE  EXEMPTION
PURSUANT  TO  THIS SECTION. FOR THE PURPOSES OF THIS SECTION, THE MARKET
VALUE OF THE RECONSTRUCTION, ALTERATION OR IMPROVEMENT SHALL BE EQUAL TO
THE INCREASED ASSESSED VALUE ATTRIBUTABLE TO SUCH RECONSTRUCTION, ALTER-
ATION OR IMPROVEMENT DIVIDED BY  THE  MOST  RECENTLY  ESTABLISHED  STATE
EQUALIZATION  RATE  FOR  SUCH CITY. WHERE THE STATE EQUALIZATION RATE OR
SPECIAL EQUALIZATION RATE EQUALS OR  EXCEEDS  NINETY-FIVE  PERCENT,  THE
INCREASE  IN  ASSESSED VALUE ATTRIBUTABLE TO SUCH RECONSTRUCTION, ALTER-
ATION OR IMPROVEMENT SHALL BE DEEMED TO EQUAL THE MARKET VALUE  OF  SUCH
RECONSTRUCTION, ALTERATION OR IMPROVEMENT.
  (B) NO SUCH EXEMPTION SHALL BE GRANTED FOR RECONSTRUCTION, ALTERATIONS
OR IMPROVEMENTS UNLESS:
  (I)  SUCH  RECONSTRUCTION,  ALTERATION  OR  CONVERTED  IMPROVEMENT WAS
COMMENCED SUBSEQUENT TO THE EFFECTIVE DATE  OF  THE  LOCAL  LAW  ADOPTED
PURSUANT TO SUBDIVISION ONE OF THIS SECTION BY SUCH CITY;
  (II)  THE  VALUE  OF  SUCH  RECONSTRUCTION,  ALTERATION OR IMPROVEMENT
EXCEEDS FIVE THOUSAND DOLLARS; AND
  (III) THE GREATER PORTION, AS SO DETERMINED BY SQUARE FOOTAGE, OF  THE
BUILDING RECONSTRUCTED, ALTERED OR IMPROVED IS AT LEAST FIVE YEARS OLD.
  (C)  FOR PURPOSES OF THIS SECTION THE TERMS RECONSTRUCTION, ALTERATION
AND IMPROVEMENT SHALL NOT INCLUDE ORDINARY MAINTENANCE AND REPAIRS.

S. 7847--A                          3                        A. 10214--A

  3. SUCH EXEMPTION SHALL BE GRANTED ONLY UPON APPLICATION BY THE  OWNER
OF  SUCH BUILDING ON A FORM PRESCRIBED BY THE COMMISSIONER. THE APPLICA-
TION SHALL BE FILED WITH THE ASSESSOR OF SUCH  CITY  ON  OR  BEFORE  THE
APPROPRIATE TAXABLE STATUS DATE OF SUCH CITY.
  4.  IF SATISFIED THAT THE APPLICANT IS ENTITLED TO AN EXEMPTION PURSU-
ANT TO THIS SECTION, THE ASSESSOR SHALL APPROVE THE APPLICATION AND SUCH
BUILDING SHALL THEREAFTER BE EXEMPT FROM TAXATION AND SPECIAL AD VALOREM
LEVIES AS PROVIDED IN THIS SECTION COMMENCING WITH THE  ASSESSMENT  ROLL
PREPARED ON THE BASIS OF THE TAXABLE STATUS DATE REFERRED TO IN SUBDIVI-
SION  THREE OF THIS SECTION. THE ASSESSED VALUE OF ANY EXEMPTION GRANTED
PURSUANT TO THIS SECTION SHALL BE ENTERED BY THE ASSESSOR ON THE ASSESS-
MENT ROLL WITH THE TAXABLE PROPERTY, WITH THE AMOUNT  OF  THE  EXEMPTION
SHOWN IN A SEPARATE COLUMN.
  5.  FOR  PURPOSES  OF  THIS  SECTION,  AN OWNER OCCUPIED SINGLE FAMILY
DWELLING SHALL MEAN ANY BUILDING OR STRUCTURE DESIGNED AND  OCCUPIED  AS
THE TEMPORARY OR PERMANENT RESIDENCE OR HOME OF ONE FAMILY.
  6.  IN THE EVENT THAT A BUILDING GRANTED AN EXEMPTION PURSUANT TO THIS
SECTION CEASES TO BE USED PRIMARILY FOR RESIDENTIAL  PURPOSES  OR  TITLE
THERETO  IS  TRANSFERRED  TO OTHER THAN THE HEIRS OR DISTRIBUTEES OF THE
OWNER, THE EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL CEASE.
  7. (A) THE ENACTMENT OF A LOCAL LAW IN SUCH CITY MAY:
  (I) REDUCE THE PERCENT OF EXEMPTION OTHERWISE ALLOWED PURSUANT TO THIS
SECTION;
  (II) LIMIT ELIGIBILITY FOR THE EXEMPTION  TO  THOSE  FORMS  OF  RECON-
STRUCTION,  ALTERATIONS  OR IMPROVEMENTS AS ARE PRESCRIBED IN SUCH LOCAL
LAW OR RESOLUTION;
  (III) PROVIDE THAT THE EXEMPTION SHALL BE  APPLICABLE  ONLY  TO  THOSE
IMPROVEMENTS WHICH WOULD OTHERWISE RESULT IN AN INCREASE IN THE ASSESSED
VALUATION  OF THE REAL PROPERTY BUT WHICH CONSIST OF AN ADDITION, REMOD-
ELING OR MODERNIZATION TO AN EXISTING RESIDENCE  BUILDING  STRUCTURE  TO
PREVENT PHYSICAL DETERIORATION OF THE STRUCTURE OR TO COMPLY WITH APPLI-
CABLE BUILDING, SANITARY, HEALTH AND/OR FIRE CODES.
  (B)  NO  SUCH  LOCAL  LAW  SHALL REDUCE OR REPEAL AN EXEMPTION GRANTED
PURSUANT TO THIS SECTION UNTIL THE EXPIRATION OF THE  PERIOD  FOR  WHICH
SUCH EXEMPTION WAS GRANTED.
  S  2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.

2015-S7847B - Details

See Assembly Version of this Bill:: A10214
Law Section:: Real Property Tax Law
Laws Affected:: Add §421-o, RPT L

2015-S7847B - Summary

Relates to an exemption of capital improvements to multiple dwelling buildings within certain cities.

2015-S7847B - Sponsor Memo

                                 BILL NUMBER:  S7847B

 TITLE OF BILL :  An act to amend the real property tax law, in
relation to an exemption of capital improvements to multiple dwelling
buildings within certain cities

 PURPOSE OR GENERAL IDEA OF BILL :

To provide cities with a population of more than ten-thousand
inhabitants and fewer than twelve thousand inhabitants the authority
to pass a local law authorizing a real property tax exemption program
that exempts from taxation the additional valuation for capital
improvements to certain residential single and multi-family properties
for conversion back to single family units.

 SUMMARY OF SPECIFIC PROVISIONS :

Amends the real property tax law by adding a new section 421-o. This
legislation would authorize, at the city of Coming's option, to pass a
local resolution authorizing a 12-year real property tax exemption
program for single and multiple dwelling residences that are
renovated, reconstructed and given general improvements and
subsequently converted back to single family units. The exemption
covers the increase in assessment value of such properties resulting
from reconstruction, alteration, and improvements. The dollar increase
in assessed value in the initial year shall be referred to as an

"exemption base." Qualifying residential units will be entitled to a
100% tax exemption for the value of such improvements one year after
the assessment increase, and the exemption shall decrease by 8.3% of
the original "exemption base" over the subsequent 11 years.  The
criteria for eligibility pertaining to the nature of the
reconstruction, alteration, and improvements are contained within the
provisions of the bill.

 JUSTIFICATION :

This legislation will allow for the city of Corning, at their option,
to embark upon an organized effort to rehabilitate portions of the
city where certain single and multi-family residential dwellings have
fallen into disrepair. This program will provide property owners who
renovate, rehabilitate and make improvements to these properties a
12-year tax exemption from the increased assessed value of these
improvements, with such exemption tapering off for a period of 12
years subsequent to obtaining approval by the city. This will help
ease the financial burden on individuals who are interesting in
rehabilitating these residential units within the city, thus helping
contribute to a broader series of efforts the city has embarked upon
to revitalize the area. In particular, many multi-family residential
units end up with major wear and tear, and are therefore in need of
substantial rehabilitation.

 PRIOR LEGISLATIVE HISTORY :

This is a new bill.

 FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS :

None.

 EFFECTIVE DATE :
This act shall take effect on the first of January next succeeding the
date this bill shall have become law.

2015-S7847B - Bill Text download pdf

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

                                 7847--B
    Cal. No. 1361

                            I N  S E N A T E

                              May 17, 2016
                               ___________

Introduced  by  Sen.  O'MARA -- read twice and ordered printed, and when
  printed to be committed to the Committee on Housing, Construction  and
  Community  Development  -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to  said  committee  --  reported
  favorably  from  said  committee,  ordered to first report, amended on
  first report, ordered  to  a  second  report  and  ordered  reprinted,
  retaining its place in the order of second report

AN  ACT  to amend the real property tax law, in relation to an exemption
  of capital improvements to multiple dwelling buildings within  certain
  cities

  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 CAPITAL IMPROVEMENTS TO MULTIPLE DWELLING BUILD-
INGS  WITHIN  CERTAIN  CITIES.  1.  MULTIPLE  DWELLING BUILDINGS, RECON-
STRUCTED, ALTERED, CONVERTED BACK TO AN  OWNER  OCCUPIED  SINGLE  FAMILY
DWELLING  LOCATED IN ANY CITY HAVING A POPULATION OF MORE THAN TEN THOU-
SAND INHABITANTS BUT FEWER THAN TWELVE  THOUSAND  INHABITANTS,  THAT  IS
LOCATED  IN A COUNTY HAVING A POPULATION OF MORE THAN NINETY-SEVEN THOU-
SAND INHABITANTS  BUT  FEWER  THAN  NINETY-EIGHT  THOUSAND  INHABITANTS,
DETERMINED  IN ACCORDANCE WITH THE LATEST FEDERAL DECENNIAL CENSUS, THAT
ARE RECONSTRUCTED, ALTERED OR IMPROVED SUBSEQUENT TO THE EFFECTIVE  DATE
OF  A  LOCAL  LAW OR RESOLUTION PURSUANT TO THIS SECTION SHALL BE EXEMPT
FROM TAXATION AND SPECIAL AD VALOREM LEVIES TO THE EXTENT PROVIDED HERE-
INAFTER. AFTER A PUBLIC HEARING, THE GOVERNING BOARD OF  SUCH  CITY  MAY
ADOPT  A  LOCAL  LAW  TO GRANT THE EXEMPTION AUTHORIZED PURSUANT TO THIS
SECTION. A COPY OF SUCH LOCAL LAW SHALL BE FILED WITH  THE  COMMISSIONER
AND  THE ASSESSOR OF SUCH CITY WHO PREPARES THE ASSESSMENT ROLL ON WHICH
THE TAXES OF SUCH CITY ARE LEVIED.
  2. (A) SUCH BUILDINGS WITHIN SUCH CITY SHALL BE EXEMPT FOR A PERIOD OF
ONE YEAR TO THE EXTENT  OF  ONE  HUNDRED  PERCENT  OF  THE  INCREASE  IN
ASSESSED  VALUE  ATTRIBUTABLE  TO  SUCH  RECONSTRUCTION,  ALTERATION  OR

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

                                                           LBD15431-03-6

S. 7847--B                          2

IMPROVEMENT AND FOR AN ADDITIONAL PERIOD OF SEVEN YEARS SUBJECT  TO  THE
FOLLOWING:
  (I)  THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY EIGHT AND ONE-
THIRD PERCENT OF THE "EXEMPTION BASE" EACH YEAR DURING  SUCH  ADDITIONAL
PERIOD.  THE "EXEMPTION BASE" SHALL BE THE INCREASE IN ASSESSED VALUE AS
DETERMINED IN THE INITIAL YEAR OF THE TERM OF THE EXEMPTION,  EXCEPT  AS
PROVIDED IN SUBPARAGRAPH (II) OF THIS PARAGRAPH.
  (II)  IN  ANY YEAR IN WHICH A CHANGE IN LEVEL OF ASSESSMENT OF FIFTEEN
PERCENT OR MORE IS CERTIFIED FOR A FINAL ASSESSMENT ROLL PURSUANT TO THE
RULES OF THE COMMISSIONER, THE EXEMPTION BASE SHALL BE MULTIPLIED  BY  A
FRACTION,  THE  NUMERATOR  OF WHICH SHALL BE THE TOTAL ASSESSED VALUE OF
THE PARCEL ON SUCH FINAL ASSESSMENT ROLL (AFTER ACCOUNTING FOR ANY PHYS-
ICAL OR QUANTITY CHANGES TO THE PARCEL SINCE THE  IMMEDIATELY  PRECEDING
ASSESSMENT  ROLL),  AND  THE  DENOMINATOR  OF  WHICH  SHALL BE THE TOTAL
ASSESSED VALUE OF THE PARCEL ON THE IMMEDIATELY PRECEDING FINAL  ASSESS-
MENT  ROLL.  THE  RESULT  SHALL BE THE NEW EXEMPTION BASE. THE EXEMPTION
SHALL THEREUPON BE RECOMPUTED TO TAKE INTO  ACCOUNT  THE  NEW  EXEMPTION
BASE,  NOTWITHSTANDING THE FACT THAT THE ASSESSOR RECEIVES CERTIFICATION
OF THE CHANGE IN LEVEL OF ASSESSMENT AFTER THE COMPLETION,  VERIFICATION
AND  FILING OF THE FINAL ASSESSMENT ROLL. IN THE EVENT THE ASSESSOR DOES
NOT HAVE CUSTODY OF THE ROLL WHEN SUCH CERTIFICATION  IS  RECEIVED,  THE
ASSESSOR  SHALL  CERTIFY  THE RECOMPUTED EXEMPTION TO THE LOCAL OFFICERS
HAVING CUSTODY AND CONTROL OF THE ROLL,  AND  SUCH  LOCAL  OFFICERS  ARE
HEREBY  DIRECTED AND AUTHORIZED TO ENTER THE RECOMPUTED EXEMPTION CERTI-
FIED BY THE ASSESSOR ON THE ROLL. THE ASSESSOR SHALL GIVE WRITTEN NOTICE
OF SUCH RECOMPUTED EXEMPTION TO THE PROPERTY OWNER, WHO MAY,  IF  HE  OR
SHE  BELIEVES THAT THE EXEMPTION WAS RECOMPUTED INCORRECTLY, APPLY FOR A
CORRECTION IN THE MANNER PROVIDED BY TITLE THREE OF ARTICLE FIVE OF THIS
CHAPTER FOR THE CORRECTION OF CLERICAL ERRORS.
  (III) SUCH EXEMPTION SHALL BE LIMITED TO ONE HUNDRED THOUSAND  DOLLARS
IN INCREASED MARKET VALUE, OR SUCH OTHER SUM LESS THAN ONE HUNDRED THOU-
SAND  DOLLARS, BUT NOT LESS THAN TEN THOUSAND DOLLARS AS MAY BE PROVIDED
BY THE LOCAL LAW OR RESOLUTION, OF THE  PROPERTY  ATTRIBUTABLE  TO  SUCH
RECONSTRUCTION,  ALTERATION  OR  IMPROVEMENT  AND ANY INCREASE IN MARKET
VALUE GREATER THAN SUCH AMOUNT SHALL NOT BE ELIGIBLE FOR  THE  EXEMPTION
PURSUANT  TO  THIS SECTION. FOR THE PURPOSES OF THIS SECTION, THE MARKET
VALUE OF THE RECONSTRUCTION, ALTERATION OR IMPROVEMENT SHALL BE EQUAL TO
THE INCREASED ASSESSED VALUE ATTRIBUTABLE TO SUCH RECONSTRUCTION, ALTER-
ATION OR IMPROVEMENT DIVIDED BY  THE  MOST  RECENTLY  ESTABLISHED  STATE
EQUALIZATION  RATE  FOR  SUCH CITY. WHERE THE STATE EQUALIZATION RATE OR
SPECIAL EQUALIZATION RATE EQUALS OR  EXCEEDS  NINETY-FIVE  PERCENT,  THE
INCREASE  IN  ASSESSED VALUE ATTRIBUTABLE TO SUCH RECONSTRUCTION, ALTER-
ATION OR IMPROVEMENT SHALL BE DEEMED TO EQUAL THE MARKET VALUE  OF  SUCH
RECONSTRUCTION, ALTERATION OR IMPROVEMENT.
  (B) NO SUCH EXEMPTION SHALL BE GRANTED FOR RECONSTRUCTION, ALTERATIONS
OR IMPROVEMENTS UNLESS:
  (I)  SUCH  RECONSTRUCTION,  ALTERATION  OR  CONVERTED  IMPROVEMENT WAS
COMMENCED SUBSEQUENT TO THE EFFECTIVE DATE  OF  THE  LOCAL  LAW  ADOPTED
PURSUANT TO SUBDIVISION ONE OF THIS SECTION BY SUCH CITY;
  (II)  THE  VALUE  OF  SUCH  RECONSTRUCTION,  ALTERATION OR IMPROVEMENT
EXCEEDS FIVE THOUSAND DOLLARS; AND
  (III) THE GREATER PORTION, AS SO DETERMINED BY SQUARE FOOTAGE, OF  THE
BUILDING RECONSTRUCTED, ALTERED OR IMPROVED IS AT LEAST FIVE YEARS OLD.
  (C)  FOR PURPOSES OF THIS SECTION THE TERMS RECONSTRUCTION, ALTERATION
AND IMPROVEMENT SHALL NOT INCLUDE ORDINARY MAINTENANCE AND REPAIRS.

S. 7847--B                          3

  3. SUCH EXEMPTION SHALL BE GRANTED ONLY UPON APPLICATION BY THE  OWNER
OF  SUCH BUILDING ON A FORM PRESCRIBED BY THE COMMISSIONER. THE APPLICA-
TION SHALL BE FILED WITH THE ASSESSOR OF SUCH  CITY  ON  OR  BEFORE  THE
APPROPRIATE TAXABLE STATUS DATE OF SUCH CITY.
  4.  IF SATISFIED THAT THE APPLICANT IS ENTITLED TO AN EXEMPTION PURSU-
ANT TO THIS SECTION, THE ASSESSOR SHALL APPROVE THE APPLICATION AND SUCH
BUILDING SHALL THEREAFTER BE EXEMPT FROM TAXATION AND SPECIAL AD VALOREM
LEVIES AS PROVIDED IN THIS SECTION COMMENCING WITH THE  ASSESSMENT  ROLL
PREPARED ON THE BASIS OF THE TAXABLE STATUS DATE REFERRED TO IN SUBDIVI-
SION  THREE OF THIS SECTION. THE ASSESSED VALUE OF ANY EXEMPTION GRANTED
PURSUANT TO THIS SECTION SHALL BE ENTERED BY THE ASSESSOR ON THE ASSESS-
MENT ROLL WITH THE TAXABLE PROPERTY, WITH THE AMOUNT  OF  THE  EXEMPTION
SHOWN IN A SEPARATE COLUMN.
  5.  FOR  PURPOSES  OF  THIS  SECTION,  AN OWNER OCCUPIED SINGLE FAMILY
DWELLING SHALL MEAN ANY BUILDING OR STRUCTURE DESIGNED AND  OCCUPIED  AS
THE TEMPORARY OR PERMANENT RESIDENCE OR HOME OF ONE FAMILY.
  6.  IN THE EVENT THAT A BUILDING GRANTED AN EXEMPTION PURSUANT TO THIS
SECTION CEASES TO BE USED PRIMARILY FOR RESIDENTIAL  PURPOSES  OR  TITLE
THERETO  IS  TRANSFERRED  TO OTHER THAN THE HEIRS OR DISTRIBUTEES OF THE
OWNER, THE EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL CEASE.
  7. (A) THE ENACTMENT OF A LOCAL LAW IN SUCH CITY MAY:
  (I) REDUCE THE PERCENT OF EXEMPTION OTHERWISE ALLOWED PURSUANT TO THIS
SECTION;
  (II) LIMIT ELIGIBILITY FOR THE EXEMPTION  TO  THOSE  FORMS  OF  RECON-
STRUCTION,  ALTERATIONS  OR IMPROVEMENTS AS ARE PRESCRIBED IN SUCH LOCAL
LAW OR RESOLUTION;
  (III) PROVIDE THAT THE EXEMPTION SHALL BE  APPLICABLE  ONLY  TO  THOSE
IMPROVEMENTS WHICH WOULD OTHERWISE RESULT IN AN INCREASE IN THE ASSESSED
VALUATION  OF THE REAL PROPERTY BUT WHICH CONSIST OF AN ADDITION, REMOD-
ELING OR MODERNIZATION TO AN EXISTING RESIDENCE  BUILDING  STRUCTURE  TO
PREVENT PHYSICAL DETERIORATION OF THE STRUCTURE OR TO COMPLY WITH APPLI-
CABLE BUILDING, SANITARY, HEALTH AND/OR FIRE CODES.
  (B)  NO  SUCH  LOCAL  LAW  SHALL REDUCE OR REPEAL AN EXEMPTION GRANTED
PURSUANT TO THIS SECTION UNTIL THE EXPIRATION OF THE  PERIOD  FOR  WHICH
SUCH EXEMPTION WAS GRANTED.
  S  2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.

2015-S7847C (ACTIVE) - Details

See Assembly Version of this Bill:: A10214
Law Section:: Real Property Tax Law
Laws Affected:: Add §421-o, RPT L

2015-S7847C (ACTIVE) - Summary

Relates to an exemption of capital improvements to multiple dwelling buildings within certain cities.

2015-S7847C (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S7847C

 TITLE OF BILL :  An act to amend the real property tax law, in
relation to an exemption of capital improvements to multiple dwelling
buildings within certain cities

 PURPOSE OR GENERAL IDEA OF BILL :

To provide cities with a population of more than ten-thousand
inhabitants and fewer than twelve thousand inhabitants the authority
to pass a local law authorizing a real property tax exemption program
that exempts from taxation the additional valuation for capital
improvements to certain residential single and multi-family properties
for conversion back to single family units.

 SUMMARY OF SPECIFIC PROVISIONS :

Amends the real property tax law by adding a new section 421-o. This
legislation would authorize, at the city of Coming's option, to pass a
local resolution authorizing a 12-year real property tax exemption
program for single and multiple dwelling residences that are
renovated, reconstructed and given general improvements and
subsequently converted back to single family units. The exemption
covers the increase in assessment value of such properties resulting
from reconstruction, alteration, and improvements. The dollar increase
in assessed value in the initial year shall be referred to as an

"exemption base." Qualifying residential units will be entitled to a
100% tax exemption for the value of such improvements one year after
the assessment increase, and the exemption shall decrease by 8.3% of
the original "exemption base" over the subsequent 11 years.  The
criteria for eligibility pertaining to the nature of the
reconstruction, alteration, and improvements are contained within the
provisions of the bill.

 JUSTIFICATION :

This legislation will allow for the city of Corning, at their option,
to embark upon an organized effort to rehabilitate portions of the
city where certain single and multi-family residential dwellings have
fallen into disrepair. This program will provide property owners who
renovate, rehabilitate and make improvements to these properties a
12-year tax exemption from the increased assessed value of these
improvements, with such exemption tapering off for a period of 12
years subsequent to obtaining approval by the city. This will help
ease the financial burden on individuals who are interesting in
rehabilitating these residential units within the city, thus helping
contribute to a broader series of efforts the city has embarked upon
to revitalize the area. In particular, many multi-family residential
units end up with major wear and tear, and are therefore in need of
substantial rehabilitation.

 PRIOR LEGISLATIVE HISTORY :

This is a new bill.

 FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS :

None.

 EFFECTIVE DATE :
This act shall take effect on the first of January next succeeding the
date this bill shall have become law.

2015-S7847C (ACTIVE) - Bill Text download pdf

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

                                 7847--C
    Cal. No. 1361

                            I N  S E N A T E

                              May 17, 2016
                               ___________

Introduced  by  Sen.  O'MARA -- read twice and ordered printed, and when
  printed to be committed to the Committee on Housing, Construction  and
  Community  Development  -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to  said  committee  --  reported
  favorably  from  said  committee,  ordered to first report, amended on
  first report, ordered  to  a  second  report  and  ordered  reprinted,
  retaining  its place in the order of second report -- reported favora-
  bly from said committee, ordered to first and second  report,  amended
  on  second  report, ordered to a third reading, and to be reprinted as
  amended, retaining its place in the order of third reading

AN ACT to amend the real property tax law, in relation to  an  exemption
  of  capital improvements to multiple dwelling buildings within certain
  cities

  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 CAPITAL IMPROVEMENTS TO MULTIPLE DWELLING BUILD-
INGS WITHIN CERTAIN  CITIES.  1.  MULTIPLE  DWELLING  BUILDINGS,  RECON-
STRUCTED,  ALTERED,  CONVERTED  BACK  TO AN OWNER OCCUPIED SINGLE FAMILY
DWELLING LOCATED IN ANY CITY HAVING A POPULATION OF MORE THAN TEN  THOU-
SAND  INHABITANTS  BUT  FEWER  THAN TWELVE THOUSAND INHABITANTS, THAT IS
LOCATED IN A COUNTY HAVING A POPULATION OF MORE THAN NINETY-SEVEN  THOU-
SAND INHABITANTS BUT FEWER THAN NINETY-NINE THOUSAND INHABITANTS, DETER-
MINED  IN  ACCORDANCE WITH THE LATEST FEDERAL DECENNIAL CENSUS, THAT ARE
RECONSTRUCTED, ALTERED OR IMPROVED SUBSEQUENT TO THE EFFECTIVE DATE OF A
LOCAL LAW OR RESOLUTION PURSUANT TO THIS SECTION SHALL  BE  EXEMPT  FROM
TAXATION AND SPECIAL AD VALOREM LEVIES TO THE EXTENT PROVIDED HEREINAFT-
ER. AFTER A PUBLIC HEARING, THE GOVERNING BOARD OF SUCH CITY MAY ADOPT A
LOCAL  LAW TO GRANT THE EXEMPTION AUTHORIZED PURSUANT TO THIS SECTION. A
COPY OF SUCH LOCAL LAW SHALL BE FILED  WITH  THE  COMMISSIONER  AND  THE
ASSESSOR  OF  SUCH  CITY  WHO  PREPARES THE ASSESSMENT ROLL ON WHICH THE
TAXES OF SUCH CITY ARE LEVIED.

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

                                                           LBD15431-07-6

S. 7847--C                          2

  2. (A) SUCH BUILDINGS WITHIN SUCH CITY SHALL BE EXEMPT FOR A PERIOD OF
ONE YEAR TO THE EXTENT  OF  ONE  HUNDRED  PERCENT  OF  THE  INCREASE  IN
ASSESSED  VALUE  ATTRIBUTABLE  TO  SUCH  RECONSTRUCTION,  ALTERATION  OR
IMPROVEMENT AND FOR AN ADDITIONAL PERIOD OF ELEVEN YEARS SUBJECT TO  THE
FOLLOWING:
  (I)  THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY EIGHT AND ONE-
THIRD PERCENT OF THE "EXEMPTION BASE" EACH YEAR DURING  SUCH  ADDITIONAL
PERIOD.  THE "EXEMPTION BASE" SHALL BE THE INCREASE IN ASSESSED VALUE AS
DETERMINED IN THE INITIAL YEAR OF THE TERM OF THE EXEMPTION,  EXCEPT  AS
PROVIDED IN SUBPARAGRAPH (II) OF THIS PARAGRAPH.
  (II)  IN  ANY YEAR IN WHICH A CHANGE IN LEVEL OF ASSESSMENT OF FIFTEEN
PERCENT OR MORE IS CERTIFIED FOR A FINAL ASSESSMENT ROLL PURSUANT TO THE
RULES OF THE COMMISSIONER, THE EXEMPTION BASE SHALL BE MULTIPLIED  BY  A
FRACTION,  THE  NUMERATOR  OF WHICH SHALL BE THE TOTAL ASSESSED VALUE OF
THE PARCEL ON SUCH FINAL ASSESSMENT ROLL (AFTER ACCOUNTING FOR ANY PHYS-
ICAL OR QUANTITY CHANGES TO THE PARCEL SINCE THE  IMMEDIATELY  PRECEDING
ASSESSMENT  ROLL),  AND  THE  DENOMINATOR  OF  WHICH  SHALL BE THE TOTAL
ASSESSED VALUE OF THE PARCEL ON THE IMMEDIATELY PRECEDING FINAL  ASSESS-
MENT  ROLL.  THE  RESULT  SHALL BE THE NEW EXEMPTION BASE. THE EXEMPTION
SHALL THEREUPON BE RECOMPUTED TO TAKE INTO  ACCOUNT  THE  NEW  EXEMPTION
BASE,  NOTWITHSTANDING THE FACT THAT THE ASSESSOR RECEIVES CERTIFICATION
OF THE CHANGE IN LEVEL OF ASSESSMENT AFTER THE COMPLETION,  VERIFICATION
AND  FILING OF THE FINAL ASSESSMENT ROLL. IN THE EVENT THE ASSESSOR DOES
NOT HAVE CUSTODY OF THE ROLL WHEN SUCH CERTIFICATION  IS  RECEIVED,  THE
ASSESSOR  SHALL  CERTIFY  THE RECOMPUTED EXEMPTION TO THE LOCAL OFFICERS
HAVING CUSTODY AND CONTROL OF THE ROLL,  AND  SUCH  LOCAL  OFFICERS  ARE
HEREBY  DIRECTED AND AUTHORIZED TO ENTER THE RECOMPUTED EXEMPTION CERTI-
FIED BY THE ASSESSOR ON THE ROLL. THE ASSESSOR SHALL GIVE WRITTEN NOTICE
OF SUCH RECOMPUTED EXEMPTION TO THE PROPERTY OWNER, WHO MAY,  IF  HE  OR
SHE  BELIEVES THAT THE EXEMPTION WAS RECOMPUTED INCORRECTLY, APPLY FOR A
CORRECTION IN THE MANNER PROVIDED BY TITLE THREE OF ARTICLE FIVE OF THIS
CHAPTER FOR THE CORRECTION OF CLERICAL ERRORS.
  (III) SUCH EXEMPTION SHALL BE LIMITED TO ONE HUNDRED THOUSAND  DOLLARS
IN INCREASED MARKET VALUE, OR SUCH OTHER SUM LESS THAN ONE HUNDRED THOU-
SAND  DOLLARS, BUT NOT LESS THAN TEN THOUSAND DOLLARS AS MAY BE PROVIDED
BY THE LOCAL LAW OR RESOLUTION, OF THE  PROPERTY  ATTRIBUTABLE  TO  SUCH
RECONSTRUCTION,  ALTERATION  OR  IMPROVEMENT  AND ANY INCREASE IN MARKET
VALUE GREATER THAN SUCH AMOUNT SHALL NOT BE ELIGIBLE FOR  THE  EXEMPTION
PURSUANT  TO  THIS SECTION. FOR THE PURPOSES OF THIS SECTION, THE MARKET
VALUE OF THE RECONSTRUCTION, ALTERATION OR IMPROVEMENT SHALL BE EQUAL TO
THE INCREASED ASSESSED VALUE ATTRIBUTABLE TO SUCH RECONSTRUCTION, ALTER-
ATION OR IMPROVEMENT DIVIDED BY  THE  MOST  RECENTLY  ESTABLISHED  STATE
EQUALIZATION  RATE  FOR  SUCH CITY. WHERE THE STATE EQUALIZATION RATE OR
SPECIAL EQUALIZATION RATE EQUALS OR  EXCEEDS  NINETY-FIVE  PERCENT,  THE
INCREASE  IN  ASSESSED VALUE ATTRIBUTABLE TO SUCH RECONSTRUCTION, ALTER-
ATION OR IMPROVEMENT SHALL BE DEEMED TO EQUAL THE MARKET VALUE  OF  SUCH
RECONSTRUCTION, ALTERATION OR IMPROVEMENT.
  (B) NO SUCH EXEMPTION SHALL BE GRANTED FOR RECONSTRUCTION, ALTERATIONS
OR IMPROVEMENTS UNLESS:
  (I)  SUCH  RECONSTRUCTION,  ALTERATION  OR  CONVERTED  IMPROVEMENT WAS
COMMENCED SUBSEQUENT TO THE EFFECTIVE DATE  OF  THE  LOCAL  LAW  ADOPTED
PURSUANT TO SUBDIVISION ONE OF THIS SECTION BY SUCH CITY;
  (II)  THE  VALUE  OF  SUCH  RECONSTRUCTION,  ALTERATION OR IMPROVEMENT
EXCEEDS FIVE THOUSAND DOLLARS; AND
  (III) THE GREATER PORTION, AS SO DETERMINED BY SQUARE FOOTAGE, OF  THE
BUILDING RECONSTRUCTED, ALTERED OR IMPROVED IS AT LEAST FIVE YEARS OLD.

S. 7847--C                          3

  (C)  FOR PURPOSES OF THIS SECTION THE TERMS RECONSTRUCTION, ALTERATION
AND IMPROVEMENT SHALL NOT INCLUDE ORDINARY MAINTENANCE AND REPAIRS.
  3.  SUCH EXEMPTION SHALL BE GRANTED ONLY UPON APPLICATION BY THE OWNER
OF SUCH BUILDING ON A FORM PRESCRIBED BY THE COMMISSIONER. THE  APPLICA-
TION  SHALL  BE  FILED  WITH  THE ASSESSOR OF SUCH CITY ON OR BEFORE THE
APPROPRIATE TAXABLE STATUS DATE OF SUCH CITY.
  4. IF SATISFIED THAT THE APPLICANT IS ENTITLED TO AN EXEMPTION  PURSU-
ANT TO THIS SECTION, THE ASSESSOR SHALL APPROVE THE APPLICATION AND SUCH
BUILDING SHALL THEREAFTER BE EXEMPT FROM TAXATION AND SPECIAL AD VALOREM
LEVIES  AS  PROVIDED IN THIS SECTION COMMENCING WITH THE ASSESSMENT ROLL
PREPARED ON THE BASIS OF THE TAXABLE STATUS DATE REFERRED TO IN SUBDIVI-
SION THREE OF THIS SECTION. THE ASSESSED VALUE OF ANY EXEMPTION  GRANTED
PURSUANT TO THIS SECTION SHALL BE ENTERED BY THE ASSESSOR ON THE ASSESS-
MENT  ROLL  WITH  THE TAXABLE PROPERTY, WITH THE AMOUNT OF THE EXEMPTION
SHOWN IN A SEPARATE COLUMN.
  5. FOR PURPOSES OF THIS  SECTION,  AN  OWNER  OCCUPIED  SINGLE  FAMILY
DWELLING  SHALL  MEAN ANY BUILDING OR STRUCTURE DESIGNED AND OCCUPIED AS
THE TEMPORARY OR PERMANENT RESIDENCE OR HOME OF ONE FAMILY.
  6. IN THE EVENT THAT A BUILDING GRANTED AN EXEMPTION PURSUANT TO  THIS
SECTION  CEASES  TO  BE USED PRIMARILY FOR RESIDENTIAL PURPOSES OR TITLE
THERETO IS TRANSFERRED TO OTHER THAN THE HEIRS OR  DISTRIBUTEES  OF  THE
OWNER, THE EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL CEASE.
  7. (A) THE ENACTMENT OF A LOCAL LAW IN SUCH CITY MAY:
  (I) REDUCE THE PERCENT OF EXEMPTION OTHERWISE ALLOWED PURSUANT TO THIS
SECTION;
  (II)  LIMIT  ELIGIBILITY  FOR  THE  EXEMPTION TO THOSE FORMS OF RECON-
STRUCTION, ALTERATIONS OR IMPROVEMENTS AS ARE PRESCRIBED IN  SUCH  LOCAL
LAW OR RESOLUTION;
  (III)  PROVIDE  THAT  THE  EXEMPTION SHALL BE APPLICABLE ONLY TO THOSE
IMPROVEMENTS WHICH WOULD OTHERWISE RESULT IN AN INCREASE IN THE ASSESSED
VALUATION OF THE REAL PROPERTY BUT WHICH CONSIST OF AN ADDITION,  REMOD-
ELING  OR  MODERNIZATION  TO AN EXISTING RESIDENCE BUILDING STRUCTURE TO
PREVENT PHYSICAL DETERIORATION OF THE STRUCTURE OR TO COMPLY WITH APPLI-
CABLE BUILDING, SANITARY, HEALTH AND/OR FIRE CODES.
  (B) NO SUCH LOCAL LAW SHALL REDUCE  OR  REPEAL  AN  EXEMPTION  GRANTED
PURSUANT  TO  THIS  SECTION UNTIL THE EXPIRATION OF THE PERIOD FOR WHICH
SUCH EXEMPTION WAS GRANTED.
  S 2. This act shall take effect on the first of January next  succeed-
ing the date on which it shall have become a law.

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Senate Bill S7847C

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Sponsored By

Thomas F. O'Mara

Archive: Last Bill Status Via A10214 - Signed by Governor

Bill Amendments

2015-S7847 - Details

2015-S7847 - Summary

2015-S7847 - Sponsor Memo

2015-S7847 - Bill Text download pdf

2015-S7847A - Details

2015-S7847A - Summary

2015-S7847A - Sponsor Memo

2015-S7847A - Bill Text download pdf

2015-S7847B - Details

2015-S7847B - Summary

2015-S7847B - Sponsor Memo

2015-S7847B - Bill Text download pdf

2015-S7847C (ACTIVE) - Details

2015-S7847C (ACTIVE) - Summary

2015-S7847C (ACTIVE) - Sponsor Memo

2015-S7847C (ACTIVE) - Bill Text download pdf

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