Senate Bill S853

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    853
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 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 extending
   certain dates relating to the assessment of real property  damaged  by
   the  severe  storm  that occurred on the twenty-ninth and thirtieth of
   October two thousand twelve 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. Paragraph (b) of subdivision 2, paragraph (b)  of  subdivi-
 sion 3 and subdivision 4 of section 1805-a of the real property tax law,
 as  added  by  chapter  14  of  the laws of 2015, are 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.
   (b) the department of finance increased the assessed  value  attribut-
 able to improvements on the property by means of a physical increase for
 an  assessment  roll  completed  from  two thousand fourteen through two
 thousand [twenty] TWENTY-THREE.
   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
 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,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03220-01-1

 S. 853                              2
 
 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 section fifteen hundred twelve of the char-
 ter of the city of New York and any other provision to the contrary, the
 commissioner of finance 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.
   § 2. This act shall take effect immediately.