S T A T E O F N E W Y O R K
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7031
2021-2022 Regular Sessions
I N S E N A T E
May 25, 2021
___________
Introduced by Sen. LIU -- read twice and ordered printed, and when
printed to be committed to the Committee on Cities 1
AN ACT to amend the real property tax law, in relation to extending
certain provisions relating to a 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. 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-
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
calendar years two thousand twelve through two thousand [twenty] TWEN-
TY-TWO no more than a maximum of three dwelling units owned by any unit
owner in a single building, one of which must be the primary residence
of such unit owner, shall be eligible to receive a partial abatement
pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4) of this subdivi-
sion.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11055-01-1
S. 7031 2
(b) In a city having a population of one million or more, dwelling
units owned by tenant-stockholders who, as of the applicable taxable
status date, own no more than three dwelling units in any one property
held in the cooperative 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 cooperative 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
calendar years two thousand twelve through two thousand [twenty] TWEN-
TY-TWO no more than a maximum of three dwelling units owned by any
tenant-stockholder in a single building, one of which must be the prima-
ry residence of such tenant-stockholder, shall be eligible to receive a
partial abatement pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4)
of this subdivision. For purposes of this section, a tenant-stockholder
of a cooperative apartment corporation shall be deemed to own the dwell-
ing unit which is represented by his or her shares of stock in such
corporation. Any abatement so granted shall be credited by the appropri-
ate taxing authority against the tax due on the property as a whole. The
reduction in real property taxes received thereby shall be credited by
the cooperative apartment corporation against the amount of such taxes
attributable to eligible dwelling units at the time of receipt.
§ 2. Paragraphs (d-1), (d-2), (d-3) and (d-4) 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:
(d-1) In the fiscal years commencing in calendar years two thousand
twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
ing units in property whose average unit assessed value is less than or
equal to fifty thousand dollars shall receive a partial abatement of the
real property taxes attributable to or due on such dwelling units of
twenty-five percent, twenty-six and one-half percent and twenty-eight
and one-tenth percent respectively. In the fiscal years commencing in
calendar years two thousand fifteen through two thousand [twenty] TWEN-
TY-TWO eligible dwelling units in property whose average unit assessed
value is less than or equal to fifty thousand dollars shall receive a
partial abatement of the real property taxes attributable to or due on
such dwelling units of twenty-eight and one-tenth percent.
(d-2) In the fiscal years commencing in calendar years two thousand
twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
ing units in property whose average unit assessed value is more than
fifty thousand dollars, but less than or equal to fifty-five thousand
dollars, shall receive a partial abatement of the real property taxes
attributable to or due on such dwelling units of twenty-two and one-half
percent, twenty-three and eight-tenths percent and twenty-five and two-
tenths percent respectively. In the fiscal years commencing in calendar
years two thousand fifteen through two thousand [twenty] TWENTY-TWO
eligible dwelling units in property whose average unit assessed value is
more than fifty thousand dollars, but less than or equal to fifty-five
thousand dollars, shall receive a partial abatement of the real property
taxes attributable to or due on such dwelling units of twenty-five and
two-tenths percent.
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(d-3) In the fiscal years commencing in calendar years two thousand
twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
ing units in property whose average unit assessed value is more than
fifty-five thousand dollars, but less than or equal to sixty thousand
dollars, shall receive a partial abatement of the real property taxes
attributable to or due on such dwelling units of twenty percent, twen-
ty-one and two-tenths percent, and twenty-two and five-tenths percent
respectively. In the fiscal years commencing in calendar years two thou-
sand fifteen through two thousand [twenty] TWENTY-TWO eligible dwelling
units in property whose average unit assessed value is more than fifty-
five thousand dollars, but less than or equal to sixty thousand dollars,
shall receive a partial abatement of the real property taxes attribut-
able to or due on such dwelling units of twenty-two and five-tenths
percent.
(d-4) In the fiscal years commencing in calendar years two thousand
twelve through two thousand [twenty] TWENTY-TWO, eligible dwelling units
in property whose average unit assessed value is more than sixty thou-
sand dollars shall receive a partial abatement of the real property
taxes attributable to or due on such dwelling units of seventeen and
one-half percent.
§ 3. Paragraph (a) of subdivision 3 of section 467-a of the real prop-
erty tax law, as amended by chapter 90 of the laws of 2019, is amended
to read as follows:
(a) An application for an abatement pursuant to this section for the
fiscal year commencing in calendar year nineteen hundred ninety-six
shall be made no later than the fifteenth day of September, nineteen
hundred ninety-six. An application for an abatement pursuant to this
section for the fiscal year commencing in calendar year nineteen hundred
ninety-seven shall be made no later than the first day of April, nine-
teen hundred ninety-seven. An application for an abatement pursuant to
this section for the fiscal year commencing in calendar year nineteen
hundred ninety-eight shall be made no later than the first day of April,
nineteen hundred ninety-eight. An application for an abatement pursuant
to this section for the fiscal year commencing in calendar year nineteen
hundred ninety-nine shall be made in accordance with this subdivision
and subdivision three-a of this section. An application for an abatement
pursuant to this section for the fiscal year commencing in calendar year
two thousand shall be made no later than the fifteenth day of February,
two thousand. An application for an abatement pursuant to this section
for the fiscal year commencing in calendar year two thousand one shall
be made in accordance with this subdivision and subdivision three-b of
this section. An application for an abatement pursuant to this section
for the fiscal year commencing in calendar year two thousand two shall
be made no later than the fifteenth day of February, two thousand two.
An application for an abatement pursuant to this section for the fiscal
year commencing in calendar year two thousand three shall be made no
later than the fifteenth day of February, two thousand three. An appli-
cation for an abatement pursuant to this section for the fiscal year
commencing in calendar year two thousand four shall be made in accord-
ance with this subdivision and subdivision three-c of this section. An
application for an abatement pursuant to this section for the fiscal
year commencing in calendar year two thousand five shall be made no
later than the fifteenth day of February, two thousand five. An applica-
tion for an abatement pursuant to this section for the fiscal year
commencing in calendar year two thousand six shall be made no later than
the fifteenth day of February, two thousand six. An application for an
S. 7031 4
abatement pursuant to this section for the fiscal year commencing in
calendar year two thousand seven shall be made no later than the
fifteenth day of February, two thousand seven. An application for abate-
ment pursuant to this section for the fiscal year commencing in calendar
year two thousand eight shall be made in accordance with this subdivi-
sion and subdivision three-d of this section. An application for an
abatement pursuant to this section for the fiscal year commencing in
calendar year two thousand nine shall be made no later than the
fifteenth day of February, two thousand nine. An application for an
abatement pursuant to this section for the fiscal year commencing in
calendar year two thousand ten shall be made no later than the fifteenth
day of February, two thousand ten. An application for an abatement
pursuant to this section for the fiscal year commencing in calendar year
two thousand eleven shall be made no later than the fifteenth day of
February, two thousand eleven. An application for an abatement pursuant
to this section for the fiscal years commencing in calendar years two
thousand twelve and two thousand thirteen shall be made in accordance
with subdivision three-e of this section. The date or dates by which
applications for an abatement pursuant to this section shall be made for
the fiscal years beginning in calendar years two thousand fourteen
through two thousand [twenty] TWENTY-TWO shall be established by the
commissioner of finance by rule, provided that such date or dates shall
not be later than the fifteenth day of February for such calendar years.
§ 4. This act shall take effect immediately.
