Assembly Bill A1329A

2019-2020 Legislative Session

Relates to a statewide residential revaluation exemption

download bill text pdf

Sponsored By

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

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Bill Amendments

co-Sponsors

2019-A1329 - Details

See Senate Version of this Bill:
S1551
Current Committee:
Senate Rules
Law Section:
Real Property Tax Law
Laws Affected:
Add §485-v, RPT L
Versions Introduced in Other Legislative Sessions:
2017-2018: A7147, S5547
2021-2022: A3489, S4855

2019-A1329 - Summary

Creates a statewide residential revaluation exemption; defines "eligible residential property"; and provides applicability, eligibility and the exemption calculation.

2019-A1329 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
     S. 1551                                                  A. 1329
 
                        2019-2020 Regular Sessions
 
                       S E N A T E - A S S E M B L Y
 
                             January 15, 2019
                                ___________
 
 IN  SENATE  --  Introduced  by  Sen.  CARLUCCI -- read twice and ordered
   printed, and when printed to be committed to the  Committee  on  Local
   Government
 
 IN ASSEMBLY -- Introduced by M. of A. GALEF -- read once and referred to
   the Committee on Real Property Taxation

 AN  ACT to amend the real property tax law, in relation to a residential
   revaluation exemption
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  real  property  tax  law  is amended by adding a new
 section 485-u to read as follows:
   § 485-U. RESIDENTIAL REVALUATION EXEMPTION.  1.  APPLICABILITY.    THE
 GOVERNING  BODY  OF AN ASSESSING UNIT MAY, AFTER A PUBLIC HEARING, ADOPT
 THE PROVISIONS OF THIS SECTION BY LOCAL LAW IN THE FIRST YEAR OF A  FULL
 VALUE REVALUATION TO PROVIDE A RESIDENTIAL REVALUATION EXEMPTION. IF THE
 GOVERNING  BODY OF AN ASSESSING UNIT PASSES A LOCAL LAW PURSUANT TO THIS
 SUBDIVISION, SUCH EXEMPTION SHALL ALSO APPLY IN THE SAME MANNER  AND  TO
 THE  SAME  EXTENT  TO  EACH  VILLAGE, COUNTY, SPECIAL DISTRICT OR SCHOOL
 DISTRICT THAT LEVIES TAXES ON  THE  ASSESSMENT  ROLL  PREPARED  BY  SUCH
 ASSESSING  UNIT. A VILLAGE ASSESSING UNIT, WITHIN AN ASSESSING UNIT THAT
 HAS CONDUCTED A REVALUATION AND THAT CHOOSES  TO  ADOPT  THAT  ASSESSING
 UNIT'S LATEST FINAL ASSESSMENT ROLL IS PERMITTED TO ADOPT THE PROVISIONS
 OF THIS SECTION WITHIN TWO YEARS OF ITS IMPLEMENTATION.
   2.  ELIGIBILITY.  (A)  THE  ASSESSORS IN EACH ASSESSING UNIT THAT HAVE
 ADOPTED THE PROVISIONS OF THIS SECTION SHALL, IN THE FIRST YEAR IN WHICH
 REVALUATION ASSESSMENTS ARE TO BE ENTERED ON THE ASSESSMENT ROLL AND FOR
 THE NEXT SUCCEEDING YEAR, APPLY TO EACH ELIGIBLE RESIDENTIAL PROPERTY AN
 EXEMPTION AS PROVIDED IN SUBDIVISION THREE  OF  THIS  SECTION.  FOR  THE
 PURPOSE  OF  THIS  SECTION, TO BE AN "ELIGIBLE RESIDENTIAL PROPERTY" THE
 FOLLOWING CRITERIA MUST BE MET:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2019-A1329A (ACTIVE) - Details

See Senate Version of this Bill:
S1551
Current Committee:
Senate Rules
Law Section:
Real Property Tax Law
Laws Affected:
Add §485-v, RPT L
Versions Introduced in Other Legislative Sessions:
2017-2018: A7147, S5547
2021-2022: A3489, S4855

2019-A1329A (ACTIVE) - Summary

Creates a statewide residential revaluation exemption; defines "eligible residential property"; and provides applicability, eligibility and the exemption calculation.

2019-A1329A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
     S. 1551--A                                            A. 1329--A
                                                          Cal. No. 68
 
                        2019-2020 Regular Sessions
 
                       S E N A T E - A S S E M B L Y
 
                             January 15, 2019
                                ___________
 
 IN  SENATE  --  Introduced  by Sens. CARLUCCI, KENNEDY -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Local  Government  -- recommitted to the Committee on Local Government
   in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee
 
 IN  ASSEMBLY  --  Introduced by M. of A. GALEF, WALLACE -- read once and
   referred to the Committee on Real Property Taxation --  ordered  to  a
   third  reading,  amended and ordered reprinted, retaining its place on
   the order of third reading
 
 AN ACT to amend the real property tax law, in relation to a  residential
   revaluation exemption
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The real property tax  law  is  amended  by  adding  a  new
 section 485-v to read as follows:
   §  485-V.  RESIDENTIAL  REVALUATION EXEMPTION. 1. APPLICABILITY.   THE
 GOVERNING BODY OF AN ASSESSING UNIT MAY, AFTER A PUBLIC  HEARING,  ADOPT
 THE  PROVISIONS OF THIS SECTION BY LOCAL LAW IN THE FIRST YEAR OF A FULL
 VALUE REVALUATION TO PROVIDE A RESIDENTIAL REVALUATION EXEMPTION. IF THE
 GOVERNING BODY OF AN ASSESSING UNIT PASSES A LOCAL LAW PURSUANT TO  THIS
 SUBDIVISION,  SUCH  EXEMPTION SHALL ALSO APPLY IN THE SAME MANNER AND TO
 THE SAME EXTENT TO EACH VILLAGE,  COUNTY,  SPECIAL  DISTRICT  OR  SCHOOL
 DISTRICT  THAT  LEVIES  TAXES  ON  THE  ASSESSMENT ROLL PREPARED BY SUCH
 ASSESSING UNIT. A VILLAGE ASSESSING UNIT, WITHIN AN ASSESSING UNIT  THAT
 HAS  CONDUCTED  A  REVALUATION  AND THAT CHOOSES TO ADOPT THAT ASSESSING
 UNIT'S LATEST FINAL ASSESSMENT ROLL IS PERMITTED TO ADOPT THE PROVISIONS
 OF THIS SECTION WITHIN TWO YEARS OF ITS IMPLEMENTATION.
   2. ELIGIBILITY. (A) THE ASSESSORS IN EACH  ASSESSING  UNIT  THAT  HAVE
 ADOPTED THE PROVISIONS OF THIS SECTION SHALL, IN THE FIRST YEAR IN WHICH
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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