S T A T E O F N E W Y O R K
________________________________________________________________________
1334
2019-2020 Regular Sessions
I N A S S E M B L Y
January 15, 2019
___________
Introduced by M. of A. QUART -- read once and referred to the Committee
on Real Property Taxation
AN ACT to amend the administrative code of the city of New York, in
relation to corrections to assessed values following proceedings to
review tax assessments
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 11-231.1 to read as follows:
§ 11-231.1 PROCEEDING TO REVIEW TAX ASSESSMENT; ASSESSED VALUE. A.
THE ASSESSED VALUATION OF REAL PROPERTY SHALL NOT BE INCREASED PRIOR TO
THE FINAL DETERMINATION BY THE TAX COMMISSION WHERE PROCEEDINGS TO
REVIEW OR CORRECT THE TAX ASSESSMENT HAVE BEEN COMMENCED BY THE FILING
OF A PETITION WITH THE TAX COMMISSION IN ACCORDANCE WITH SECTION 11-231
OF THIS SUBCHAPTER.
B. WHEN AN ASSESSMENT IS CORRECTED FOLLOWING PROCEEDINGS TO REVIEW OR
CORRECT THE TAX ASSESSMENT OF REAL PROPERTY, SUCH CORRECTED ASSESSED
VALUATION SHALL IMMEDIATELY BE USED BY THE TAX COMMISSION AND THE
DEPARTMENT OF FINANCE FOR THE YEAR FOR WHICH THE CORRECTION IS MADE AND
SHALL BE CONSIDERED A REBUTTABLE PRESUMPTION IN SUBSEQUENT YEARS.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01418-01-9