Senate Bill S7942A

2015-2016 Legislative Session

Relates to a residential revaluation exemption

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Local Government Committee


  • 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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Bill Amendments

co-Sponsors

2015-S7942 - Details

See Assembly Version of this Bill:
A10416
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §485-s, RPT L

2015-S7942 - Summary

Provides a residential revaluation exemption in a county with a population of not less than 930,000 and not more than 1,200,000; establishes eligibility for such exemption and provides the exemption calculation; makes related provisions.

2015-S7942 - Sponsor Memo

2015-S7942 - Bill Text download pdf

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

                                  7942

                            I N  S E N A T E

                              May 26, 2016
                               ___________

Introduced  by  Sen.  STEWART-COUSINS -- 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 a  residential
  reassessment 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 485-s to read as follows:
  S  485-S.  RESIDENTIAL REASSESSMENT EXEMPTION. 1.  APPLICABILITY.  THE
GOVERNING BODY OF AN ASSESSING UNIT LOCATED WITHIN A COUNTY WITH A POPU-
LATION OF NOT LESS THAN NINE HUNDRED THIRTY THOUSAND AND NOT  MORE  THAN
ONE MILLION TWO HUNDRED THOUSAND BASED UPON THE LATEST DECENNIAL CENSUS,
MAY,  AFTER  A  PUBLIC  HEARING, ADOPT THE PROVISIONS OF THIS SECTION BY
LOCAL LAW IN THE FIRST YEAR OF A REVALUATION TO  PROVIDE  A  RESIDENTIAL
REASSESSMENT EXEMPTION. IF THE GOVERNING BODY OF AN ASSESSING UNIT PASS-
ES  A  LOCAL LAW PURSUANT TO THIS SUBDIVISION, SUCH EXEMPTION SHALL ALSO
APPLY IN THE SAME MANNER AND TO THE SAME EXTENT TO EACH VILLAGE, COUNTY,
SPECIAL DISTRICT OR SCHOOL DISTRICT THAT LEVIES TAXES ON THE  ASSESSMENT
ROLL  PREPARED BY SUCH ASSESSING UNIT. AN INDEPENDENT ASSESSING VILLAGE,
WITHIN AN ASSESSING UNIT THAT  HAS  CONDUCTED  A  REVALUATION  AND  THAT
CHOOSES  TO  ADOPT  THAT  ASSESSING UNIT'S LATEST FIXED FINAL ASSESSMENT
ROLL IS PERMITTED TO ADOPT THE PROVISIONS OF  THIS  SECTION  WITHIN  TWO
YEARS OF ITS IMPLEMENTATION.
  2.  ELIGIBILITY.  (A)  THE  ASSESSORS IN EACH ASSESSING UNIT THAT HAVE
ADOPTED THE PROVISIONS OF THIS SECTION SHALL, IN THE FIRST YEAR IN WHICH
REVALUATION ASSESSMENTS ARE TO BE ENTERED ON THE ASSESSMENT ROLL AND FOR
THE NEXT SUCCEEDING YEAR, APPLY TO EACH ELIGIBLE RESIDENTIAL PROPERTY AN
EXEMPTION AS PROVIDED IN SUBDIVISION THREE  OF  THIS  SECTION.  FOR  THE
PURPOSE  OF  THIS  SECTION, TO BE AN "ELIGIBLE RESIDENTIAL PROPERTY" THE
FOLLOWING CRITERIA MUST BE MET:
  (I) THE PROPERTY MUST BE A ONE-,  TWO-,  OR  THREE-FAMILY  RESIDENTIAL
PROPERTY,  PROVIDED  THAT  IN  AN APPROVED ASSESSING UNIT DWELLING UNITS
HELD IN CONDOMINIUM FORM OF OWNERSHIP THAT ARE CLASSIFIED IN  THE  HOME-
STEAD TAX CLASS SHALL ALSO BE ELIGIBLE;

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

co-Sponsors

2015-S7942A (ACTIVE) - Details

See Assembly Version of this Bill:
A10416
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §485-s, RPT L

2015-S7942A (ACTIVE) - Summary

Provides a residential revaluation exemption in a county with a population of not less than 930,000 and not more than 1,200,000; establishes eligibility for such exemption and provides the exemption calculation; makes related provisions.

2015-S7942A (ACTIVE) - Sponsor Memo

2015-S7942A (ACTIVE) - Bill Text download pdf

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

                                 7942--A

                            I N  S E N A T E

                              May 26, 2016
                               ___________

Introduced  by Sens. STEWART-COUSINS, CARLUCCI -- read twice and ordered
  printed, and when printed to be committed to the  Committee  on  Local
  Government -- 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 a residential
  revaluation 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 485-s to read as follows:
  S 485-S. RESIDENTIAL REVALUATION EXEMPTION. 1.   APPLICABILITY.    THE
GOVERNING BODY OF AN ASSESSING UNIT LOCATED WITHIN A COUNTY WITH A POPU-
LATION  OF  NOT LESS THAN NINE HUNDRED THIRTY THOUSAND AND NOT MORE THAN
ONE MILLION TWO HUNDRED THOUSAND BASED UPON THE LATEST DECENNIAL CENSUS,
MAY, AFTER A PUBLIC HEARING, ADOPT THE PROVISIONS  OF  THIS  SECTION  BY
LOCAL  LAW  IN  THE  FIRST YEAR OF A FULL VALUE REVALUATION TO PROVIDE A
RESIDENTIAL REVALUATION EXEMPTION. IF THE GOVERNING BODY OF AN ASSESSING
UNIT PASSES A LOCAL LAW PURSUANT TO  THIS  SUBDIVISION,  SUCH  EXEMPTION
SHALL  ALSO  APPLY  IN  THE  SAME  MANNER AND TO THE SAME EXTENT TO EACH
VILLAGE, COUNTY, SPECIAL DISTRICT OR SCHOOL DISTRICT THAT  LEVIES  TAXES
ON  THE  ASSESSMENT  ROLL  PREPARED  BY SUCH ASSESSING UNIT.   A VILLAGE
ASSESSING UNIT, WITHIN AN ASSESSING UNIT THAT HAS  CONDUCTED  A  REVALU-
ATION  AND  THAT  CHOOSES  TO  ADOPT  THAT ASSESSING UNIT'S LATEST FINAL
ASSESSMENT ROLL IS PERMITTED TO ADOPT THE  PROVISIONS  OF  THIS  SECTION
WITHIN TWO YEARS OF ITS IMPLEMENTATION.
  2.  ELIGIBILITY.  (A)  THE  ASSESSORS IN EACH ASSESSING UNIT THAT HAVE
ADOPTED THE PROVISIONS OF THIS SECTION SHALL, IN THE FIRST YEAR IN WHICH
REVALUATION ASSESSMENTS ARE TO BE ENTERED ON THE ASSESSMENT ROLL AND FOR
THE NEXT SUCCEEDING YEAR, APPLY TO EACH ELIGIBLE RESIDENTIAL PROPERTY AN
EXEMPTION AS PROVIDED IN SUBDIVISION THREE  OF  THIS  SECTION.  FOR  THE
PURPOSE  OF  THIS  SECTION, TO BE AN "ELIGIBLE RESIDENTIAL PROPERTY" THE
FOLLOWING CRITERIA MUST BE MET:
  (I) THE PROPERTY MUST BE A ONE-,  TWO-,  OR  THREE-FAMILY  RESIDENTIAL
PROPERTY,  PROVIDED  THAT  IN  AN APPROVED ASSESSING UNIT DWELLING UNITS

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

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