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Senate Bill S1871

2017-2018 Legislative Session

Relates to the limitation on increases of assessed value of certain individual class two properties

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

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2017-S1871 (ACTIVE) - Details

See Assembly Version of this Bill:
A1358
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1805, RPT L
Versions Introduced in 2015-2016 Legislative Session:
S5919, A10221

2017-S1871 (ACTIVE) - Summary

Relates to the limitation on increases of assessed value of certain individual class two properties.

2017-S1871 (ACTIVE) - Sponsor Memo

2017-S1871 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1871
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 11, 2017
                                ___________
 
 Introduced by Sens. AVELLA, KLEIN -- 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 the real prop-
   erty tax cap and certain class two properties
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The opening paragraph of subdivision 2 of section  1805  of
 the real property tax law, as amended by chapter 586 of laws of 1992, is
 amended to read as follows:
   The assessment roll of a special assessing unit wholly contained with-
 in  a  city  shall  identify those parcels classified in class two which
 have fewer than eleven residential units OR  PARCELS  WITH  AN  ASSESSED
 VALUATION  OF  LESS THAN SEVENTY-FIVE THOUSAND DOLLARS.  The assessor of
 any such special assessing unit shall not increase the assessment of any
 parcel so identified in any  one  year,  as  measured  from  the  actual
 assessment  on  the  previous year's assessment roll, by more than eight
 percent and shall not increase  such  assessment  by  more  than  thirty
 percent  in  any five-year period. The first such five-year period shall
 be measured from the individual assessment appearing on  the  assessment
 roll  completed  in  nineteen  hundred eighty-one provided that, if such
 parcel would not have been subject to the provisions of this subdivision
 in nineteen hundred eighty-one had this subdivision then been in effect,
 the first such five-year period shall be measured from  the  first  year
 after  nineteen  hundred eighty-one in which this subdivision applied to
 such parcel or would have applied to such parcel  had  this  subdivision
 been in effect in such year.
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01211-01-7

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