Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 08, 2020 |
referred to local government returned to senate died in assembly |
Jun 18, 2019 |
referred to real property taxation delivered to assembly passed senate ordered to third reading cal.1482 committee discharged and committed to rules |
Jan 28, 2019 |
referred to local government |
Senate Bill S2552
2019-2020 Legislative Session
Sponsored By
(D) 11th Senate District
Archive: Last Bill Status - In Senate Committee Local Government 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
co-Sponsors
(D) 16th Senate District
2019-S2552 (ACTIVE) - Details
2019-S2552 (ACTIVE) - Sponsor Memo
BILL NUMBER: S2552 SPONSOR: STAVISKY TITLE OF BILL: An act to amend the real property tax law, in relation to limitations on assessed value for any parcel that is held in cooperative or condominium forms of ownership PURPOSE OR GENERAL IDEA OF BILL: Relates to limitations on assessed value for any parcel that is held in cooperative or condominium forms of ownership. SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends Real Property Tax Law Section 1805(3) to modify the phased in changes to assessed value of condominiums and cooperatives, from a five year phase-in to a 12 year phase-in.
2019-S2552 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2552 2019-2020 Regular Sessions I N S E N A T E January 28, 2019 ___________ Introduced by Sen. STAVISKY -- 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 limitations on assessed value for any parcel that is held in cooperative or condomin- ium forms of ownership THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1805 of the real property tax law is amended by adding a new subdivision 7 to read as follows: 7. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, IF THE ASSESSMENT APPEARING ON AN ASSESSMENT ROLL BEGINNING WITH THE ASSESSMENT ROLL COMPLETED THE SAME YEAR AS THE EFFECTIVE DATE OF THIS SUBDIVISION AND FOR EACH SUBSEQUENT ASSESSMENT ROLL FOR ANY PARCEL THAT IS HELD IN COOPERATIVE OR CONDOMINIUM FORMS OF OWNERSHIP, IS GREATER THAN THE ASSESSMENT APPEARING ON THE PREVIOUS YEAR'S ASSESSMENT ROLL THE ASSESSOR SHALL DETERMINE A TRANSITION ASSESSMENT FOR SUCH PARCEL FOR THE FIRST ASSESSMENT ROLL ON WHICH SUCH GREATER ASSESSMENT APPEARS AND FOR EACH OF THE SUCCEEDING ELEVEN ASSESSMENT ROLLS BY COMPUTING THE DIFFERENCE BETWEEN SUCH GREATER ASSESSMENT AND THE ASSESSMENT APPEARING ON SUCH PREVIOUS YEAR'S ASSESSMENT ROLL AND ADDING THE FOLLOWING PERCENTAGES OF SUCH DIFFERENCE TO THE ASSESSMENT APPEARING ON SUCH PREVIOUS YEAR'S ASSESSMENT ROLL: IN THE FIRST YEAR, EIGHT AND ONE-THIRD PERCENT; IN THE SECOND YEAR, SIXTEEN AND TWO-THIRDS PERCENT; IN THE THIRD YEAR, TWENTY- FIVE PERCENT; IN THE FOURTH YEAR, THIRTY-THREE AND ONE-THIRD PERCENT; IN THE FIFTH YEAR, FORTY-ONE AND TWO-THIRDS PERCENT; IN THE SIXTH YEAR, FIFTY PERCENT; IN THE SEVENTH YEAR, FIFTY-EIGHT AND ONE-THIRD PERCENT; IN THE EIGHTH YEAR, SIXTY-SIX AND TWO-THIRDS PERCENT; IN THE NINTH YEAR, SEVENTY-FIVE PERCENT; IN THE TENTH YEAR, EIGHTY-THREE AND ONE-THIRD PERCENT; IN THE ELEVENTH YEAR, NINETY-ONE AND TWO-THIRDS PERCENT; AND IN THE TWELFTH YEAR, ONE HUNDRED PERCENT. IF THE ASSESSMENT OF A PARCEL IS INCREASED DURING A PERIOD FOR WHICH TRANSITION ASSESSMENTS HAVE BEEN EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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