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 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-S5324 - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1805, RPT L
Versions Introduced in Other Legislative Sessions:
2021-2022: S785
2023-2024: S11

2019-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.

2019-S5324 - Sponsor Memo

2019-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



              

2019-S5324A - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1805, RPT L
Versions Introduced in Other Legislative Sessions:
2021-2022: S785
2023-2024: S11

2019-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.

2019-S5324A - Sponsor Memo

2019-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
              

2019-S5324B (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1805, RPT L
Versions Introduced in Other Legislative Sessions:
2021-2022: S785
2023-2024: S11

2019-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.

2019-S5324B (ACTIVE) - Sponsor Memo

2019-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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