senate Bill S5267A

2019-2020 Legislative Session

Relates to the partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Cities 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 07, 2020 print number 5267a
Aug 07, 2020 amend and recommit to cities
Jan 08, 2020 referred to cities
Apr 22, 2019 referred to cities

Co-Sponsors

S5267 - Details

See Assembly Version of this Bill:
A7092
Current Committee:
Senate Cities
Law Section:
Real Property Tax Law
Laws Affected:
Amd §467-a, RPT L

S5267 - Summary

Eliminates the New York city condominium and cooperative tax abatement for dwelling units whose billable assessed value is two hundred thousand dollars or greater and instructs that the money used to formerly fund such abatement be reallocated to the New York city housing authority; extends certain provisions of the partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more.

S5267 - Sponsor Memo

S5267 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5267
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              April 22, 2019
                                ___________
 
 Introduced  by Sen. KAVANAGH -- read twice and ordered printed, and when
   printed to be committed to the Committee on Cities
 
 AN ACT to amend the real property tax law, in relation  to  partial  tax
   abatement  for  residential  real  property held in the cooperative or
   condominium form of ownership in a city having  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. Subdivision 2 of section 467-a of the real property tax law
 is amended by adding a new paragraph (b-2) to read as follows:
   (B-2) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY,  THE
 PROVISIONS  OF  THIS  SECTION  SHALL  NOT APPLY TO ANY DWELLING UNIT FOR
 WHICH THE BILLABLE ASSESSED VALUE IS TWO  HUNDRED  THOUSAND  DOLLARS  OR
 GREATER.
   §  2.  Paragraphs (a) and (b) of subdivision 2 of section 467-a of the
 real property tax law, as amended by section 61 of part A of chapter  20
 of the laws of 2015, are amended to read as follows:
   (a)  In  a  city  having a population of one million or more, dwelling
 units owned by unit owners who, as  of  the  applicable  taxable  status
 date,  own no more than three dwelling units in any one property held in
 the condominium form of  ownership,  shall  be  eligible  to  receive  a
 partial  abatement  of  real  property taxes, as set forth in paragraphs
 (c), (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of  this  subdivi-
 sion; provided, however, that a property held in the condominium form of
 ownership  that  is  receiving  complete  or  partial  real property tax
 exemption or tax abatement pursuant to any other provision of this chap-
 ter or any other state or local law, except as provided in paragraph (f)
 of this subdivision, shall not be eligible to receive a  partial  abate-
 ment  pursuant  to  this  section;  and provided, further, that sponsors
 shall not be eligible to receive a partial abatement  pursuant  to  this
 section;  and  provided, further, that in the fiscal years commencing in
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Co-Sponsors

S5267A (ACTIVE) - Details

See Assembly Version of this Bill:
A7092
Current Committee:
Senate Cities
Law Section:
Real Property Tax Law
Laws Affected:
Amd §467-a, RPT L

S5267A (ACTIVE) - Summary

Eliminates the New York city condominium and cooperative tax abatement for dwelling units whose billable assessed value is two hundred thousand dollars or greater and instructs that the money used to formerly fund such abatement be reallocated to the New York city housing authority; extends certain provisions of the partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more.

S5267A (ACTIVE) - Sponsor Memo

S5267A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5267--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              April 22, 2019
                                ___________
 
 Introduced by Sens. KAVANAGH, SALAZAR -- read twice and ordered printed,
   and  when printed to be committed to the Committee on Cities -- recom-
   mitted to the Committee on Cities in accordance with  Senate  Rule  6,
   sec.  8  --  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  partial  tax
   abatement  for  residential  real  property held in the cooperative or
   condominium form of ownership in a city having  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. Subdivision 2 of section 467-a of the real property tax law
 is amended by adding a new paragraph (b-2) to read as follows:
   (B-2) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE  CONTRARY  FOR
 FISCAL YEARS COMMENCING IN CALENDAR YEARS 2020 AND AFTER, THE PROVISIONS
 OF THIS SECTION SHALL NOT APPLY TO ANY DWELLING UNIT FOR WHICH THE BILL-
 ABLE ASSESSED VALUE IS TWO HUNDRED THOUSAND DOLLARS OR GREATER.
   §  2.  Paragraphs (a) and (b) of subdivision 2 of section 467-a of the
 real property tax law, as amended by chapter 90 of the laws of 2019, are
 amended to read as follows:
   (a) In a city having a population of one  million  or  more,  dwelling
 units  owned  by  unit  owners  who, as of the applicable taxable status
 date, own no more than three dwelling units in any one property held  in
 the  condominium  form  of  ownership,  shall  be  eligible to receive a
 partial abatement of real property taxes, as  set  forth  in  paragraphs
 (c),  (d),  (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi-
 sion; provided, however, that a property held in the condominium form of
 ownership that is  receiving  complete  or  partial  real  property  tax
 exemption or tax abatement pursuant to any other provision of this chap-
 ter or any other state or local law, except as provided in paragraph (f)
 of  this  subdivision, shall not be eligible to receive a partial abate-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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