Assembly Bill A3416

2017-2018 Legislative Session

Relates to assessment exemptions for living quarters for certain senior relatives

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2017-A3416 (ACTIVE) - Details

See Senate Version of this Bill:
S1665
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §469, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: S2746
2011-2012: S638
2013-2014: S2169
2015-2016: A9333, S1458
2019-2020: A3253
2021-2022: A2394

2017-A3416 (ACTIVE) - Summary

Extends eligibility for tax exemption to the extent of any increase in assessed value of residential property resulting from the construction or reconstruction of such property for the purpose of providing living quarters for certain related senior or disabled relatives.

2017-A3416 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3416
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 27, 2017
                                ___________
 
 Introduced  by  M.  of  A.  CYMBROWITZ  -- read once and referred to the
   Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law,  in  relation  to  assessment
   exemptions for living quarters for a parent or grandparent
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivisions 1 and 3 of section 469 of  the  real  property
 tax  law,  as added by chapter 377 of the laws of 2000, subdivision 1 as
 further amended by subdivision (b) of section 1 of part W of chapter  56
 of the laws of 2010, are amended to read as follows:
   1. A county, city, town, village or school district acting through its
 local  legislative  body is hereby authorized and empowered to adopt and
 amend local laws, or resolutions in the case  of  school  districts,  to
 provide  for an exemption from taxation to the extent of any increase in
 assessed value of residential property resulting from  the  construction
 or  reconstruction  of such property for the purpose of providing living
 quarters for a parent or grandparent, who is sixty-two years of  age  or
 older,  OR  ANOTHER ELIGIBLE PERSON, AS DEFINED IN SUBDIVISION FIVE-A OF
 THIS SECTION. Such exemption  shall  not  exceed  (a)  the  increase  in
 assessed  value  resulting  from  construction or reconstruction of such
 property, or (b) twenty percent of the  total  assessed  value  of  such
 property  as improved, or (c) twenty percent of the median sale price of
 residential property as reported in the most  recent  sales  statistical
 summary  published by the commissioner for the county in which the prop-
 erty is located, whichever is less.
   3. Such exemption shall be applicable only to construction  or  recon-
 struction  which  occurred  subsequent  to  the  effective  date of this
 section and shall only apply during taxable years during which at  least
 one such parent [or], grandparent OR ELIGIBLE PERSON maintains a primary
 place of residence in such living quarters.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05062-01-7
              

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