senate Bill S1551A

2019-2020 Legislative Session

Relates to a statewide residential revaluation exemption

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Local Government 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
Jan 14, 2020 print number 1551a
Jan 14, 2020 amend and recommit to local government
Jan 08, 2020 referred to local government
Jan 15, 2019 referred to local government

Co-Sponsors

S1551 - Details

See Assembly Version of this Bill:
A1329
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §485-v, RPT L
Versions Introduced in 2017-2018 Legislative Session:
S5547, A7147

S1551 - Summary

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

S1551 - Sponsor Memo

S1551 - 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

S1551A (ACTIVE) - Details

See Assembly Version of this Bill:
A1329
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §485-v, RPT L
Versions Introduced in 2017-2018 Legislative Session:
S5547, A7147

S1551A (ACTIVE) - Summary

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

S1551A (ACTIVE) - Sponsor Memo

S1551A (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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