senate Bill S5324B

2019-2020 Legislative Session

Relates to assessments on class one dwellings

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Archive: Last 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 (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to local government
Jun 13, 2019 print number 5324b
Jun 13, 2019 amend and recommit to local government
May 31, 2019 print number 5324a
May 31, 2019 amend and recommit to local government
Apr 25, 2019 referred to local government

S5324 - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1805, RPT L
Versions Introduced in 2021-2022 Legislative Session:
S785

S5324 - Summary

Provides that the cap on assessment increases for class one dwellings shall not apply to dwellings assessed at over three million dollars where the owners have a gross household income not exceeding $250,000.

S5324 - Sponsor Memo

S5324 - Bill Text download pdf


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

                                  5324

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             April 25, 2019
                               ___________

Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN  ACT  to  amend the real property tax law, in relation to eliminating
  the cap on assessed value growth for certain class one properties

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The opening paragraph of subdivision 1 of section 1805 of
the real property tax law, as amended by chapter  935  of  the  laws  of
1984, is amended to read as follows:
  The  assessor  of  any  special  assessing unit shall not increase the
assessment of any individual parcel WITH A MARKET VALUE,  AS  DETERMINED
BY  THE  ASSESSOR,  UNDER  THREE  MILLION DOLLARS WHICH IS classified in
class one in any one year, as measured from the assessment on the previ-
ous year's assessment roll, by more  than  six  percent  and  shall  not
increase  such  assessment  by more than twenty percent in any five-year
period. The first such five-year period shall be measured from the indi-
vidual assessment appearing on the assessment roll completed in nineteen
hundred eighty; provided that if such parcel would not have been subject
to the provisions of this subdivision in  nineteen  hundred  eighty  had
this  subdivision  then  been in effect, the first such five-year period
shall be measured from the first year after nineteen hundred  eighty  in
which  this  subdivision applied to such parcel or would have applied to
such parcel had this subdivision been in effect in such year.
  § 2. This act shall take effect immediately and shall apply to assess-
ment rolls completed on and after such date.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11236-03-9

S5324A - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1805, RPT L
Versions Introduced in 2021-2022 Legislative Session:
S785

S5324A - Summary

Provides that the cap on assessment increases for class one dwellings shall not apply to dwellings assessed at over three million dollars where the owners have a gross household income not exceeding $250,000.

S5324A - Sponsor Memo

S5324A - Bill Text download pdf


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

                                 5324--A

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             April 25, 2019
                               ___________

Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
  printed  to  be  committed  to  the  Committee  on Local Government --
  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 eliminating
  the cap on assessed value growth for certain class one properties

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The opening paragraph of subdivision 1 of section 1805 of
the real property tax law, as amended by chapter  935  of  the  laws  of
1984, is amended to read as follows:
  The  assessor  of  any  special  assessing unit shall not increase the
assessment of any individual parcel WITH A MARKET VALUE,  AS  DETERMINED
BY  THE  ASSESSOR,  UNDER  THREE  MILLION DOLLARS WHICH IS classified in
class one in any one year AND WHICH IS ELIGIBLE FOR A SCHOOL TAX  RELIEF
EXEMPTION  UNDER SECTION FOUR HUNDRED TWENTY-FIVE OF THIS CHAPTER ON THE
BASIS OF AFFILIATED INCOME AS PROVIDED IN SUCH SECTION, as measured from
the assessment on the previous year's assessment roll, by more than  six
percent  and  shall  not  increase  such  assessment by more than twenty
percent in any five-year period. The first such five-year  period  shall
be  measured  from the individual assessment appearing on the assessment
roll completed in nineteen hundred eighty; provided that if such  parcel
would  not  have  been  subject to the provisions of this subdivision in
nineteen hundred eighty had this subdivision then been  in  effect,  the
first  such five-year period shall be measured from the first year after
nineteen hundred eighty in which this subdivision applied to such parcel
or would have applied to such parcel had this subdivision been in effect
in such year.
  § 2. This act shall take effect immediately and shall apply to assess-
ment rolls completed on and after such date.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11236-04-9

S5324B (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1805, RPT L
Versions Introduced in 2021-2022 Legislative Session:
S785

S5324B (ACTIVE) - Summary

Provides that the cap on assessment increases for class one dwellings shall not apply to dwellings assessed at over three million dollars where the owners have a gross household income not exceeding $250,000.

S5324B (ACTIVE) - Sponsor Memo

S5324B (ACTIVE) - Bill Text download pdf


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

                                 5324--B

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             April 25, 2019
                               ___________

Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
  printed  to  be  committed  to  the  Committee  on Local Government --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted  to  said committee -- 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  eliminating
  the cap on assessed value growth for certain class one properties

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The opening paragraph of subdivision 1 of section  1805  of
the  real  property  tax  law,  as amended by chapter 935 of the laws of
1984, is amended to read as follows:
  The assessor of any special assessing  unit  shall  not  increase  the
assessment  of  any individual parcel WITH A MARKET VALUE, AS DETERMINED
BY THE ASSESSOR, UNDER THREE MILLION  DOLLARS  WHICH  IS  classified  in
class  one  in any one year AND WHERE THE OWNERS OF SUCH PROPERTY HAVE A
GROSS HOUSEHOLD INCOME NOT EXCEEDING TWO HUNDRED FIFTY THOUSAND DOLLARS,
as measured from the assessment on the previous year's assessment  roll,
by  more than six percent and shall not increase such assessment by more
than twenty percent in any five-year period. The  first  such  five-year
period shall be measured from the individual assessment appearing on the
assessment  roll  completed in nineteen hundred eighty; provided that if
such parcel would not have been subject to the provisions of this subdi-
vision in nineteen hundred eighty had  this  subdivision  then  been  in
effect, the first such five-year period shall be measured from the first
year  after nineteen hundred eighty in which this subdivision applied to
such parcel or would have applied to such parcel  had  this  subdivision
been in effect in such year.
  §  2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a  law  and  shall  apply  to
assessment rolls completed on and after such date.  Effective immediate-
ly,  the  addition,  amendment  and/or  repeal of any rule or regulation
necessary for the implementation of this act on its effective  date  are
authorized to be made and completed on or before such effective date.

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