assembly Bill A4540

2019-2020 Legislative Session

Imposes an additional tax surcharge on certain non-primary residence class one and class two properties in N.Y. city

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 04, 2019 referred to real property taxation

Co-Sponsors

A4540 (ACTIVE) - Details

See Senate Version of this Bill:
S44
Law Section:
Real Property Tax Law
Laws Affected:
Add §307-b, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: A10192, S7941
2015-2016: A1641, S1053
2017-2018: A3837, S69

A4540 (ACTIVE) - Summary

Imposes an additional tax surcharge on certain non-primary residence class one and class two properties in a city with a population of one million or more.

A4540 (ACTIVE) - Bill Text download pdf


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

                                  4540

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                            February 4, 2019
                               ___________

Introduced  by  M.  of  A.  GLICK, O'DONNELL, GOTTFRIED -- read once and
  referred to the Committee on Real Property Taxation

AN ACT to amend the real property tax law, in relation  to  imposing  an
  additional  tax  on  certain non-primary residence class one and class
  two properties in a city with a population of one million or more

  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 307-b to read as follows:
  § 307-B. ADDITIONAL TAX ON CERTAIN NON-PRIMARY RESIDENCE PROPERTIES IN
A CITY WITH A POPULATION OF ONE MILLION OR MORE. 1. GENERALLY.  NOTWITH-
STANDING  ANY  PROVISION  OF  ANY  GENERAL, SPECIFIC OR LOCAL LAW TO THE
CONTRARY, ANY CITY WITH A POPULATION OF ONE MILLION OR  MORE  IS  HEREBY
AUTHORIZED  AND  EMPOWERED  TO  ADOPT AND AMEND LOCAL LAWS IN ACCORDANCE
WITH THIS SECTION IMPOSING AN  ADDITIONAL  TAX  ON  CERTAIN  RESIDENTIAL
PROPERTIES.
  2. DEFINITIONS. AS USED IN THIS SECTION: (A) "COMMISSIONER OF FINANCE"
MEANS  THE  COMMISSIONER OF FINANCE OF A CITY HAVING A POPULATION OF ONE
MILLION OR MORE, OR HIS OR HER DESIGNEE.
  (B) "DEPARTMENT OF FINANCE" MEANS THE DEPARTMENT OF FINANCE OF A  CITY
HAVING A POPULATION OF ONE MILLION OR MORE.
  (C)  "MARKET VALUE" SHALL MEAN THE CURRENT MONETARY VALUE OF THE PROP-
ERTY, USING A COMPARABLE SALE-BASED VALUATION METHOD, AS  DETERMINED  BY
THE DEPARTMENT OF FINANCE.
  3.  ADDITIONAL TAX.   A LOCAL LAW ENACTED PURSUANT TO THIS SECTION MAY
PROVIDE FOR A REAL PROPERTY TAX IN ACCORDANCE WITH THE  FOLLOWING  TABLE
FOR FISCAL YEARS BEGINNING ON OR AFTER JULY FIRST, TWO THOUSAND TWENTY:

IF THE MARKET VALUE OF THE              THE TAX IS:
PROPERTY IS:
OVER $5,000,000 BUT NOT                 $0 PLUS .5% OF EXCESS
OVER $6,000,000                         OVER $5,000,000
OVER $6,000,000                         $5,000 PLUS 1% OF EXCESS
BUT NOT OVER $10,000,000                OVER $6,000,000

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.