Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to real property taxation |
Jan 27, 2017 |
referred to real property taxation |
Assembly Bill A3416
2017-2018 Legislative Session
Sponsored By
CYMBROWITZ
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
Actions
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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