Assembly Bill A9714

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9714
 
                           I N  A S S E M B L Y
 
                             February 2, 2018
                                ___________
 
 Introduced  by  M. of A. RYAN -- read once and referred to the Committee
   on Real Property Taxation
 
 AN ACT to amend the real property tax law, in  relation  to  authorizing
   the city of Buffalo to exempt from taxation certain rapid increases in
   the assessment of certain owner-occupied residential properties
 
   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 469-a to read as follows:
   § 469-A. EXEMPTION FROM TAXATION ON CERTAIN INCREASES IN ASSESSMENT IN
 THE  CITY  OF BUFFALO. 1. THE CITY OF BUFFALO IS AUTHORIZED TO ENACT AND
 AMEND LOCAL LAWS TO PROVIDE FOR AN EXEMPTION FROM REAL ESTATE TAXES (BUT
 NOT USER CHARGES OR SPECIAL BENEFIT ASSESSMENTS) TO THE  EXTENT  OF  ANY
 QUALIFIED  INCREASE IN THE EQUALIZED ASSESSED VALUE OF AN OWNER-OCCUPIED
 ONE, TWO OR THREE FAMILY RESIDENTIAL PROPERTY, SUBJECT TO THE  FOLLOWING
 CONDITIONS:
   A.  TO  QUALIFY  FOR  SUCH  EXEMPTION, THE INCREASE MUST EXCEED THIRTY
 PERCENT IN ANY ONE YEAR OR FIFTY  PERCENT  OVER  ANY  THREE  CONSECUTIVE
 YEARS.
   B.  TO  QUALIFY  FOR SUCH EXEMPTION, THE HOUSEHOLD INCOME OF THE OWNER
 MUST NOT EXCEED SUCH LIMIT, IF ANY, AS MAY BE SET BY THE LOCAL LAW.
   C. THE INCREASE IS NOT THE RESULT OF (I) ANY  CAPITAL  IMPROVEMENT  TO
 THE  PROPERTY OR (II) THE REMOVAL OR REDUCTION OF ANY OTHER EXEMPTION TO
 THE PROPERTY.
   D. TO QUALIFY AS AN OCCUPANT, THE OWNER MUST OCCUPY  THE  PROPERTY  AS
 HIS OR HER PRINCIPAL RESIDENCE.
   E. THE EXEMPTION SHALL TERMINATE UPON THE TRANSFER OF OWNERSHIP OF THE
 PROPERTY  UNLESS THE TRANSFER IS TO A PERSON WHO HAS BEEN AN OCCUPANT OF
 THE PROPERTY FOR AT LEAST FIVE YEARS AND WHO IS A PARENT, CHILD,  GRAND-
 CHILD, SIBLING, NIECE OR NEPHEW OF THE OWNER.
   F.  THE  OWNER  MUST  FILE  AN APPLICATION FOR THE EXEMPTION, SWORN TO
 BEFORE A NOTARY PUBLIC.
   G. THE AMOUNT OF THE EXEMPTION MAY BE PHASED  OUT  OVER  A  NUMBER  OF
 YEARS BY PROVISION IN THE LOCAL LAW.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD14595-01-8

 A. 9714                             2
 
   2.  THE  RESPONSIBLE  CITY OFFICER SHALL, ON OR BEFORE DECEMBER FIRST,
 MAIL TO THE OWNER OF EACH PROPERTY SUBJECT TO AN INCREASE IN  ASSESSMENT
 MEETING  THE CONDITIONS SET FORTH IN SUBDIVISION ONE OF THIS SECTION, AN
 APPLICATION FOR SUCH EXEMPTION AND A NOTICE THAT THE APPLICATION MUST BE
 FILED  NO LATER THAN DECEMBER THIRTY-FIRST IN ORDER FOR THE EXEMPTION TO
 BE GRANTED OR CONTINUED FOR THE NEXT FISCAL YEAR. FAILURE OF  THE  OWNER
 TO  RECEIVE SUCH NOTICE AND APPLICATION FORM SHALL NOT PREVENT THE LEVY,
 COLLECTION AND ENFORCEMENT OF THE PAYMENT OF TAXES ON THE PROPERTY.
   § 2. This act shall take effect immediately.