senate Bill S2819

2019-2020 Legislative Session

Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 12, 2019 reported and committed to finance
Jan 29, 2019 referred to cities

Votes

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Feb 12, 2019 - Cities committee Vote

S2819
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Cities committee vote details

Cities Committee Vote: Feb 12, 2019

Co-Sponsors

S2819 (ACTIVE) - Details

See Assembly Version of this Bill:
A3788
Current Committee:
Senate Finance
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
2017-2018: S1288, A1324

S2819 (ACTIVE) - Summary

Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year; applies only to class one and class two properties.

S2819 (ACTIVE) - Sponsor Memo

S2819 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2819

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 29, 2019
                               ___________

Introduced  by  Sen.  COMRIE -- 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.
                                                           LBD00989-01-9

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