assembly Bill A4540A

2019-2020 Legislative Session

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

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Current Bill Status - In Assembly 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 (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 17, 2020 print number 4540a
Aug 17, 2020 amend and recommit to real property taxation
Jan 08, 2020 referred to real property taxation
Feb 04, 2019 referred to real property taxation

Co-Sponsors

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Multi-Sponsors

A4540 - Details

Law Section:
Real Property Tax Law
Laws Affected:
Add §307-b, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: A10192
2015-2016: A1641
2017-2018: A3837

A4540 - 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 - 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

Co-Sponsors

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Multi-Sponsors

A4540A (ACTIVE) - Details

Law Section:
Real Property Tax Law
Laws Affected:
Add §307-b, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: A10192
2015-2016: A1641
2017-2018: A3837

A4540A (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.

A4540A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4540--A
 
                        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, L. ROSENTHAL, REYES,
   RIVERA, DINOWITZ, SIMOTAS, JEAN-PIERRE, EPSTEIN, WEPRIN, NIOU, LENTOL,
   RICHARDSON,  CRUZ,  TAYLOR,  MOSLEY,  STECK,  QUART,  SEAWRIGHT, FAHY,
   ORTIZ, BENEDETTO, JACOBSON, FERNANDEZ,  PICHARDO,  BURKE,  DE LA ROSA,
   SIMON,  BUTTENSCHON,  DenDEKKER,  LIFTON,  BUCHWALD,  SAYEGH,  HUNTER,
   JOYNER, CARROLL, WOERNER, McDONALD, GUNTHER, RAMOS, GRIFFIN, JONES  --
   Multi-Sponsored by -- M. of A. ARROYO, NOLAN -- read once and referred
   to  the  Committee  on  Real  Property  Taxation -- recommitted to the
   Committee on Real Property Taxation in accordance with  Assembly  Rule
   3,  sec. 2 -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee
 
 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 AND DWELLING UNITS.
   2.  DEFINITIONS.  AS USED IN THIS SECTION:  (A) "ASSESSED VALUE" MEANS
 THE DETERMINATION MADE BY THE ASSESSORS OF A CITY HAVING A POPULATION OF
 ONE MILLION OR MORE OF THE VALUATION OF REAL PROPERTY.
   (B) "ASSESSED VALUE ATTRIBUTABLE TO A  TENANT-STOCKHOLDER"  MEANS  THE
 PROPORTION OF THE ASSESSED VALUE OF REAL PROPERTY OWNED BY A COOPERATIVE
 APARTMENT  CORPORATION,  REPRESENTED  BY A TENANT-STOCKHOLDER'S SHARE OR
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.