Assembly Bill A4752C

2019-2020 Legislative Session

Requires assessors using the comparable sales method for assessments to consider certain comparable properties in formulating the assessment

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Sponsored By

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

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Bill Amendments

2019-A4752 - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §305-a, RPT L
Versions Introduced in 2021-2022 Legislative Session:
A894

2019-A4752 - Summary

Requires assessors using the comparable sales method for assessments to consider certain comparable properties in formulating the assessment.

2019-A4752 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4752
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 5, 2019
                                ___________
 
 Introduced  by  M.  of  A.  ZEBROWSKI  --  read once and referred to the
   Committee on Real Property Taxation
 
 AN ACT to amend the real property tax  law,  in  relation  to  requiring
   assessors using the comparable sales method for assessments to consid-
   er certain comparable properties in formulating the assessment

   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 305-a to read as follows:
   §  305-A.  ASSESSMENT  USING THE COMPARABLE SALES METHOD. AN ASSESSOR,
 WHEN DETERMINING THE VALUE OF A PROPERTY USING A COMPARABLE SALES  METH-
 OD,  SHALL  CONSIDER  THE  FOLLOWING WHEN SELECTING APPROPRIATE SALES OR
 RENTALS COMPARABLE TO THE PROPERTY BEING ASSESSED:
   1. SALES OR RENTALS OF PROPERTIES EXHIBITING SIMILAR USE IN  THE  SAME
 REAL ESTATE MARKET SEGMENT. COMPARABLE PROPERTIES SHOULD INCLUDE PROPER-
 TIES LOCATED IN PROXIMATE LOCATION TO THE PROPERTY BEING ASSESSED UNLESS
 THE  ASSESSOR  IS UNABLE TO FIND AN ADEQUATE NUMBER OF APPROPRIATE SALES
 OR RENTALS; AND
   2. SALES OR RENTALS OF PROPERTIES THAT ARE SIMILAR IN AGE,  CONDITION,
 USE,  TYPE  OF  CONSTRUCTION,  LOCATION,  DESIGN,  PHYSICAL FEATURES AND
 ECONOMIC CHARACTERISTICS INCLUDING SIMILARITIES IN OCCUPANCY AND  INCOME
 GENERATING POTENTIAL.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07560-01-9

2019-A4752A - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §305-a, RPT L
Versions Introduced in 2021-2022 Legislative Session:
A894

2019-A4752A - Summary

Requires assessors using the comparable sales method for assessments to consider certain comparable properties in formulating the assessment.

2019-A4752A - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4752--A
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 5, 2019
                                ___________
 
 Introduced  by  M.  of  A.  ZEBROWSKI  --  read once and referred to the
   Committee on Real Property  Taxation  --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 AN ACT to amend the real property tax  law,  in  relation  to  requiring
   assessors  using  the  comparable sales, income capitalization or cost
   method for assessments to consider certain  comparable  properties  in
   formulating the assessment
 
   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 305-a to read as follows:
   §  305-A. ASSESSMENT USING THE COMPARABLE SALES, INCOME CAPITALIZATION
 OR COST METHOD. WHEN DETERMINING THE  VALUE  OF  A  PROPERTY  USING  THE
 COMPARABLE  SALES,  INCOME  CAPITALIZATION OR COST METHOD, THE FOLLOWING
 SHALL BE CONSIDERED WHEN SELECTING APPROPRIATE SALES OR RENTALS COMPARA-
 BLE TO THE SUBJECT PROPERTY:
   1. SALES OR RENTALS OF PROPERTIES EXHIBITING SIMILAR  CURRENT  USE  OR
 THE  USE  AT  THE  TIME  OF SALE IN THE SAME REAL ESTATE MARKET SEGMENT.
 COMPARABLE PROPERTIES SHOULD INCLUDE  PROPERTIES  LOCATED  IN  PROXIMATE
 LOCATION TO THE SUBJECT PROPERTY UNLESS THERE IS AN INADEQUATE NUMBER OF
 APPROPRIATE SALES OR RENTALS WITHIN THE SAME MARKET SEGMENT; AND
   2.  SALES OR RENTALS OF PROPERTIES THAT ARE SIMILAR IN AGE, CONDITION,
 CURRENT USE OR THE USE AT  THE  TIME  OF  SALE,  TYPE  OF  CONSTRUCTION,
 LOCATION, DESIGN, PHYSICAL FEATURES AND ECONOMIC CHARACTERISTICS INCLUD-
 ING SIMILARITIES IN OCCUPANCY AND INCOME GENERATING POTENTIAL.
   § 2. This act shall take effect immediately and shall apply to assess-
 ment roles prepared on or after January 1, 2020.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07560-02-9

co-Sponsors

2019-A4752B - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §305-a, RPT L
Versions Introduced in 2021-2022 Legislative Session:
A894

2019-A4752B - Summary

Requires assessors using the comparable sales method for assessments to consider certain comparable properties in formulating the assessment.

2019-A4752B - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4752--B
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 5, 2019
                                ___________
 
 Introduced  by  M.  of  A.  ZEBROWSKI  --  read once and referred to the
   Committee on Real Property  Taxation  --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee -- reported and referred to the Committee on  Ways  and  Means  --
   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  requiring
   assessors  using  the  comparable sales, income capitalization or cost
   method for assessments to consider certain  comparable  properties  in
   formulating the assessment
 
   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 305-a to read as follows:
   §  305-A. ASSESSMENT USING THE COMPARABLE SALES, INCOME CAPITALIZATION
 OR COST METHOD. WHEN DETERMINING THE  VALUE  OF  A  PROPERTY  USING  THE
 COMPARABLE  SALES,  INCOME  CAPITALIZATION OR COST METHOD, THE FOLLOWING
 SHALL BE CONSIDERED WHEN SELECTING APPROPRIATE SALES OR RENTALS COMPARA-
 BLE TO THE SUBJECT PROPERTY:
   1. SALES OR RENTALS OF PROPERTIES EXHIBITING SIMILAR  CURRENT  USE  OR
 THE  USE  AT  THE  TIME  OF SALE IN THE SAME REAL ESTATE MARKET SEGMENT.
 COMPARABLE PROPERTIES SHOULD INCLUDE  PROPERTIES  LOCATED  IN  PROXIMATE
 LOCATION TO THE SUBJECT PROPERTY UNLESS THERE IS AN INADEQUATE NUMBER OF
 APPROPRIATE SALES OR RENTALS WITHIN THE SAME MARKET SEGMENT; AND
   2.  SALES OR RENTALS OF PROPERTIES THAT ARE SIMILAR IN AGE, CONDITION,
 CURRENT USE OR THE USE AT  THE  TIME  OF  SALE,  TYPE  OF  CONSTRUCTION,
 LOCATION, DESIGN, PHYSICAL FEATURES AND ECONOMIC CHARACTERISTICS INCLUD-
 ING SIMILARITIES IN OCCUPANCY AND INCOME GENERATING POTENTIAL.
   § 2. This act shall take effect immediately and shall apply to assess-
 ment rolls prepared on or after January 1, 2020.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07560-03-9

co-Sponsors

2019-A4752C (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §305-a, RPT L
Versions Introduced in 2021-2022 Legislative Session:
A894

2019-A4752C (ACTIVE) - Summary

Requires assessors using the comparable sales method for assessments to consider certain comparable properties in formulating the assessment.

2019-A4752C (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4752--C
                                                         Cal. No. 181
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 5, 2019
                                ___________
 
 Introduced  by M. of A. ZEBROWSKI, WOERNER, GALEF, BRABENEC -- read once
   and referred to the Committee on Real Property Taxation  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said  committee  -- reported and referred to the Committee on Ways
   and Means -- committee discharged, bill amended, ordered reprinted  as
   amended  and recommitted to said committee -- ordered to a third read-
   ing, 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 requiring
   assessors using the comparable sales, income  capitalization  or  cost
   method  for  assessments  to consider certain comparable properties in
   formulating the assessment
 
   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 305-a to read as follows:
   § 305-A. ASSESSMENT USING THE COMPARABLE SALES, INCOME  CAPITALIZATION
 OR  COST  METHOD.  WHEN  DETERMINING  THE  VALUE OF A PROPERTY USING THE
 COMPARABLE SALES, INCOME CAPITALIZATION OR COST  METHOD,  THE  FOLLOWING
 SHALL BE CONSIDERED WHEN SELECTING APPROPRIATE SALES OR RENTALS COMPARA-
 BLE TO THE SUBJECT PROPERTY:
   1.  SALES  OR  RENTALS OF PROPERTIES EXHIBITING SIMILAR CURRENT USE OR
 THE USE AT THE TIME OF SALE IN THE  SAME  REAL  ESTATE  MARKET  SEGMENT.
 COMPARABLE  PROPERTIES  SHOULD  INCLUDE  PROPERTIES LOCATED IN PROXIMATE
 LOCATION TO THE SUBJECT PROPERTY UNLESS THERE IS AN INADEQUATE NUMBER OF
 APPROPRIATE SALES OR RENTALS WITHIN THE SAME MARKET SEGMENT; AND
   2. SALES OR RENTALS OF PROPERTIES THAT ARE SIMILAR IN AGE,  CONDITION,
 CURRENT  USE  OR  THE  USE  AT  THE  TIME OF SALE, TYPE OF CONSTRUCTION,
 LOCATION, DESIGN, PHYSICAL FEATURES AND ECONOMIC CHARACTERISTICS INCLUD-
 ING SIMILARITIES IN OCCUPANCY AND INCOME GENERATING POTENTIAL.
   § 2. This act shall take effect immediately and shall apply to assess-
 ment rolls prepared on or after January 1, 2021.

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