S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    625
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by Sen. KAMINSKY -- 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 the assessment
   of certain real property damaged by the severe storm that occurred  on
   October  twenty-ninth  and thirtieth, two thousand twelve in a special
   assessing unit that is not a city
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  (b)  of subdivision 2 of section 1805-b of the
 real property tax law, as added by chapter 411 of the laws of  2015,  is
 amended to read as follows:
   (b)  "Aggregate physical increase" means the sum of physical increases
 for assessment rolls completed from two thousand  fourteen  through  two
 thousand [twenty] TWENTY-THREE.
   §  2.  Paragraph  (b)  of  subdivision 3 of section 1805-b of the real
 property tax law, as added by chapter  411  of  the  laws  of  2015,  is
 amended to read as follows:
   (b) the assessor increased the assessed value attributable to improve-
 ments  on the property by means of a physical increase for an assessment
 roll completed from two thousand fourteen through two thousand  [twenty]
 TWENTY-THREE.
   §  3. Subdivision 4 of section 1805-b of the real property tax law, as
 added by chapter 411 of the laws of 2015, is amended to read as follows:
   4. Limitation on increases of assessed value. Notwithstanding subdivi-
 sion five of section eighteen hundred five of this article and any other
 provision to the contrary, increases in the assessed value  of  affected
 real  property shall be limited in the manner specified in this subdivi-
 sion.
   (a) Except as provided in  paragraph  (c)  of  this  subdivision,  for
 affected  real  property for which the assessed values on the assessment
 rolls completed in two thousand fourteen and two thousand fifteen do not
 reflect a physical  increase,  the  amount  of  the  aggregate  physical
              

 increase  shall not exceed the amount of the physical decrease reflected
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01226-01-1

 S. 625                              2
 
 in the assessed value on the assessment roll completed in  two  thousand
 thirteen.  Any  increase  in  assessed  value from the preceding year in
 excess of the physical increase reflected in the current assessed value,
 such  physical  increase  limited as provided in the preceding sentence,
 shall be subject to the limitations on increases  provided  in  subdivi-
 sions  one, two and three of section eighteen hundred five of this arti-
 cle. In no event shall the assessed value of the affected real  property
 appearing  on  an  assessment roll completed for any given year from two
 thousand fifteen to two thousand [twenty] TWENTY-THREE exceed  what  the
 assessed  value would have been that year but for any physical decreases
 or physical increases reflected in the assessed values on the assessment
 rolls completed from two thousand  thirteen  to  two  thousand  [twenty]
 TWENTY-THREE.
   (b)  For  affected  real  property for which the assessed value on the
 assessment roll completed in  two  thousand  fourteen  or  two  thousand
 fifteen  reflects a physical increase, the assessed value as it appeared
 on the assessment roll completed in two thousand fifteen shall be recal-
 culated as if the limitation in paragraph (a) of  this  subdivision  had
 been  in effect for the assessment rolls completed in two thousand four-
 teen and two thousand fifteen. The recalculation of the  assessed  value
 that  appeared  on the assessment roll completed in two thousand fifteen
 shall not affect the amount of taxes that were due and payable  for  the
 fiscal  year  beginning on the first of July, two thousand fourteen. The
 assessed value on the assessment rolls completed for each of  the  years
 from two thousand sixteen to two thousand [twenty] TWENTY-THREE shall be
 subject to the limitation on increases provided in paragraph (a) of this
 subdivision. Notwithstanding any provision to the contrary, the assessor
 is  authorized  to  correct  as  provided in this paragraph the assessed
 value of  affected  real  property  appearing  on  the  assessment  roll
 completed  in  two  thousand  fifteen.  Such correction shall be made no
 later than ninety days after the effective date of a local  law  adopted
 in accordance with this section.
   (c) Notwithstanding paragraphs (a) and (b) of this subdivision, in the
 event  that the total square footage of the improvements on the affected
 real property appearing on any assessment roll completed from two  thou-
 sand  fourteen  to  two thousand [twenty] TWENTY-THREE exceeds the total
 square footage of the improvements on  the  property  appearing  on  the
 assessment  roll  completed  in  two  thousand twelve, the amount of the
 aggregate physical increase shall not  exceed  the  amount  computed  by
 multiplying  the  sum of the physical increases as calculated subject to
 this subdivision by a fraction, the numerator of which is equal  to  the
 amount  of  the total square footage of the improvements on the property
 for the current assessment roll, and the denominator of which  is  equal
 to  the  amount  of  the total square footage of the improvements on the
 property for the assessment roll completed in two thousand  twelve.  For
 purposes  of  this  paragraph,  if  improvements on the property located
 below grade were not  included  in  the  total  square  footage  of  the
 improvements  on  the  property for the assessment roll completed in two
 thousand twelve, such improvements shall not be included  in  the  total
 square  footage for subsequent assessment rolls if the improvements were
 moved above grade or other building elevations were constructed  on  the
 property  to  prevent  or mitigate flooding as part of reconstruction or
 repair in connection with the damage caused by  the  severe  storm  that
 occurred  on  the  twenty-ninth  and  thirtieth of October, two thousand
 twelve.
   § 4. This act shall take effect immediately.