Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 20, 2018 |
committed to rules |
Mar 22, 2018 |
advanced to third reading |
Mar 21, 2018 |
2nd report cal. |
Mar 20, 2018 |
1st report cal.695 |
Jan 03, 2018 |
referred to cities returned to senate died in assembly |
Jun 20, 2017 |
referred to real property taxation delivered to assembly passed senate |
Feb 07, 2017 |
advanced to third reading |
Feb 06, 2017 |
2nd report cal. |
Jan 31, 2017 |
1st report cal.105 |
Jan 09, 2017 |
referred to cities |
Senate Bill S1288
2017-2018 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Rules 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
Votes
2017-S1288 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A1324
- Current Committee:
- Senate Rules
- Law Section:
- New York City Administrative Code
- Laws Affected:
- Add §11-239.1, NYC Ad Cd
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
S5913, A9144
2015-2016: S1048, A321
2019-2020: S2819, A3788
2021-2022: S3432, A401
2023-2024: S1088, A1379
2017-S1288 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1288 TITLE OF BILL : An act to amend the administrative code of the city of New York, in relation to prohibiting the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year SUMMARY OF PROVISIONS : Section 1 amends the administrative code of the city of New York by adding a new section 11239-a that states that the assessed value of real property shall not be increased for the period of a year after such property's assessed value has decreased. Section 2 sets forth an immediate effective date. JUSTIFICATION : Property owners in the city of New York have been subject to huge property tax increases over the past decade as a result of the housing boom. However, as the housing market dropped substantially, due to the severe recession which began in 2008, property values have yet to recover from such devastating declines. Despite this unfortunate fact, the city of New York continues to increase property taxes at will with no regard to those property values which have declined and not recovered.
2017-S1288 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1288 2017-2018 Regular Sessions I N S E N A T E January 9, 2017 ___________ Introduced by Sen. AVELLA -- read twice and ordered printed, and when printed to be committed to the Committee on Cities AN ACT to amend the administrative code of the city of New York, in relation to prohibiting the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The administrative code of the city of New York is amended by adding a new section 11-239.1 to read as follows: § 11-239.1 ASSESSMENTS FOLLOWING DECREASED VALUATION. FOR A PERIOD OF A YEAR AFTER A REAL PROPERTY'S MARKET VALUE HAS DECREASED, THE ASSESSED VALUE OF SUCH PROPERTY SHALL BE THE LESSER OF THE ASSESSED VALUE IN THE PRIOR YEAR OR THE PRODUCT OF THE ASSESSMENT RATIO TIMES THE MARKET VALUE. THIS SECTION SHALL APPLY ONLY TO CLASS ONE AND CLASS TWO PROPER- TIES AS SUCH CLASSES ARE DEFINED IN SUBDIVISION ONE OF SECTION EIGHTEEN HUNDRED TWO OF THE REAL PROPERTY TAX LAW. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00805-01-7
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