NY State Senate Bill 2023-S4065A

Current 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

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Mar 18, 2024	print number 4065a
Mar 18, 2024	amend and recommit to local government
Jan 03, 2024	referred to local government
Feb 02, 2023	referred to local government

Bill Amendments

Original

A (Active)

2023-S4065 - Details

See Assembly Version of this Bill:: A1292
Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Amd §581, RPT L; amd §339-y, RP L
Versions Introduced in Other Legislative Sessions:: 2009-2010: S255, A5724
2011-2012: S546, A4981
2013-2014: S1000, A682
2015-2016: S618, A5484
2017-2018: S1191, A2874
2019-2020: S7057, A5221
2021-2022: S5946, A3491

2023-S4065 - Summary

Relates to the taxation of property owned by a cooperative corporation.

2023-S4065 - Sponsor Memo

                                 
BILL NUMBER: S4065

SPONSOR: MANNION
 
TITLE OF BILL:

An act to amend the real property tax law and the real property law, in
relation to the taxation of property owned by a cooperative corporation

 
PURPOSE:

The purpose of this legislation is to allow municipal corporations to
value newly constructed and converted cooperative and condominium units
as they would for real property to alleviate any negative impacts placed
on the locality by the current statute.

 
SUMMARY OF PROVISIONS:

Section 1 of this bill would amend subdivision 1 of section 581 of the
Real Property Tax Law by adding a new paragraph: (d) The provisions of
paragraph (a) of this subdivision shall not apply to real property owned
or leased by a cooperative corporation or on a condominium basis in a
municipal corporation, other than a special assessing unit, which has

adopted, prior to the taxable statue date of the assessment roll upon
which its taxes will be levied, a local law or, for a school district, a
resolution providing that the provisions of paragraph (a) of this subdi-
vision shall not apply to such real property within that municipal
corporation; provided, however, the provisions of this paragraph shall
not apply to real property owned or leased by a cooperative corporation
or on a condominium basis that had been previously subject to the
provisions of paragraph (a) of this subdivision prior to January 1,
2023. The provisions of this paragraph shall not apply to condos or
co-ops that are participating in an affordable housing tax credit
program or has a regulatory agreement with a federal, state, or local
agency related to affordable housing requirements.

Section 2 of this bill would amend subdivision 1 of section 339-y of the
Real Property Law by adding a new paragraph: (g) The provisions of para-
graph (b) of this subdivision shall not apply to real property owned or
leased by a cooperative corporation or on a condominium basis in a
municipal corporation other than a special assessing unit, which has
adopted, prior to the taxable status data of the assessment roll upon
which its taxes will be levied, a local law or, for a school district, a
resolution providing that the provisions of paragraph (b) of this subdi-
vision shall not apply to such real property within that municipal
corporation; provided, however, the provisions of this paragraph shall
not apply to real property owned or leased by a cooperative corporation
or on a condominium basis that had been previously subject to the
provisions of paragraph (b) of this subdivision prior to January 1,
2023. The provisions of this paragraph shall not apply to condos or
co-ops that are participating in an affordable housing tax credit
program or has a regulatory agreement with a federal, state, or local
agency related to affordable housing requirements.

Section 3 of this bill provides that the effective date shall take
effect immediately and shall apply to assessment rolls prepared on the
basis of taxable status dates occurring on or after January 1, 2024.

 
JUSTIFICATION:

As currently written, the Real Property Tax Law and the Real Property
Law does not allow the sum of the assessments of individual cooperative
or condominium units to exceed the value of the entire complex if it was
valued as a single entity. The restriction tends to reduce condominium
and cooperative assessments by preventing the use of sales of units in
the assessment process. The Office of Real Property Services, assessors
and other local officials generally consider the restrictions an unrea-
sonable state mandate that unfairly limits the revenue-raising abilities
of local governments. Assessors and appraisers also cite the difficul-
ties they encounter when they are forced to ignore market information -
usually the best indicator of value in developing estimates of taxable
value. This bill would allow municipal corporations to value newly
constructed and converted cooperative and condominium units as they
would other real property to alleviate any negative impacts placed on
the locality by the current statute.

 
LEGISLATIVE HISTORY:

2021-22: S.5946-B (Reichlin-Melnick) - Veto Memo 142.

2019-20:  S.7057-A (Carlucci) - Referred to Local Government.

2017-18: S.1191-B (Little) - Ordered to Third Reading.

2015-16: S.618-A (Little) - Referred to Local Government.

2013-14: S.1000-A (Little) - Referred to Local Government.

2011-12: S.546-A (Little) - Referred to Local Government.

2009-10: S. 255 (Little) - Referred to Local Government.

2007-08: S. 7727 (Little) - Advanced to Third Reading.

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to assessment
rolls prepared on the basis of taxable status dates occurring on or
after January 1, 2024.

2023-S4065 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4065
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 2, 2023
                                ___________
 
 Introduced  by  Sen. MANNION -- 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 and the real property law,  in
   relation  to  the  taxation  of property owned by a cooperative corpo-
   ration

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision 1 of section 581 of the real property tax law
 is amended by adding a new paragraph (e) to read as follows:
   (E) THE PROVISIONS OF PARAGRAPH (A)  OF  THIS  SUBDIVISION  SHALL  NOT
 APPLY  TO  REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR
 ON A CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION, OTHER THAN A  SPECIAL
 ASSESSING  UNIT,  WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS DATE OF
 THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
 FOR A SCHOOL DISTRICT, A RESOLUTION PROVIDING  THAT  THE  PROVISIONS  OF
 PARAGRAPH  (A) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL PROPERTY
 WITHIN THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS  OF
 THIS  PARAGRAPH  SHALL  NOT  APPLY TO REAL PROPERTY OWNED OR LEASED BY A
 COOPERATIVE CORPORATION OR ON A CONDOMINIUM BASIS THAT HAD  BEEN  PREVI-
 OUSLY  SUBJECT  TO  THE  PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVISION
 PRIOR TO JANUARY FIRST,  TWO  THOUSAND  TWENTY-FOUR;  PROVIDED  FURTHER,
 HOWEVER,  THE PROVISIONS OF THIS PARAGRAPH SHALL NOT APPLY TO REAL PROP-
 ERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR  ON  A  CONDOMINIUM
 BASIS  THAT IS PARTICIPATING IN AN AFFORDABLE HOUSING TAX CREDIT PROGRAM
 OR HAS A REGULATORY AGREEMENT WITH A FEDERAL,  STATE,  OR  LOCAL  AGENCY
 RELATED TO AFFORDABLE HOUSING REQUIREMENTS.
   §  2.  Subdivision  1  of  section  339-y  of the real property law is
 amended by adding a new paragraph (h) to read as follows:
   (H) THE PROVISIONS OF PARAGRAPH (B)  OF  THIS  SUBDIVISION  SHALL  NOT
 APPLY  TO  REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR
 ON A CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION OTHER THAN  A  SPECIAL
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05606-01-3

 S. 4065                             2
 
 ASSESSING  UNIT,  WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS DATE OF
 THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
 FOR A SCHOOL DISTRICT, A RESOLUTION PROVIDING  THAT  THE  PROVISIONS  OF
 PARAGRAPH  (B) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL PROPERTY
 WITHIN THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS  OF
 THIS  PARAGRAPH  SHALL  NOT  APPLY TO REAL PROPERTY OWNED OR LEASED BY A
 COOPERATIVE CORPORATION OR ON A CONDOMINIUM BASIS THAT HAD  BEEN  PREVI-
 OUSLY  SUBJECT  TO  THE  PROVISIONS OF PARAGRAPH (B) OF THIS SUBDIVISION
 PRIOR TO JANUARY FIRST,  TWO  THOUSAND  TWENTY-FOUR;  PROVIDED  FURTHER,
 HOWEVER,  THE PROVISIONS OF THIS PARAGRAPH SHALL NOT APPLY TO REAL PROP-
 ERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR  ON  A  CONDOMINIUM
 BASIS  THAT IS PARTICIPATING IN AN AFFORDABLE HOUSING TAX CREDIT PROGRAM
 OR HAS A REGULATORY AGREEMENT WITH A FEDERAL,  STATE,  OR  LOCAL  AGENCY
 RELATED TO AFFORDABLE HOUSING REQUIREMENTS.
   § 3. This act shall take effect immediately and shall apply to assess-
 ment rolls prepared on the basis of taxable status dates occurring on or
 after January 1, 2024.

2023-S4065A (ACTIVE) - Details

See Assembly Version of this Bill:: A1292
Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Amd §581, RPT L; amd §339-y, RP L
Versions Introduced in Other Legislative Sessions:: 2009-2010: S255, A5724
2011-2012: S546, A4981
2013-2014: S1000, A682
2015-2016: S618, A5484
2017-2018: S1191, A2874
2019-2020: S7057, A5221
2021-2022: S5946, A3491

2023-S4065A (ACTIVE) - Summary

Relates to the taxation of property owned by a cooperative corporation.

2023-S4065A (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S4065A

SPONSOR: MANNION
 
TITLE OF BILL:

An act to amend the real property tax law and the real property law, in
relation to the taxation of property owned by a cooperative corporation

 
PURPOSE:

The purpose of this legislation is to allow municipal corporations to
value newly constructed and converted cooperative and condominium units
as they would for real property to alleviate any negative impacts placed
on the locality by the current statute.

 
SUMMARY OF PROVISIONS:

Section 1 of this bill would amend subdivision 1 of section 581 of the
Real Property Tax Law by adding a new paragraph: (d) The provisions of
paragraph (a) of this subdivision shall not apply to real property owned
or leased by a cooperative corporation or on a condominium basis in a
municipal corporation, other than a special assessing unit, which has

adopted, prior to the taxable statue date of the assessment roll upon
which its taxes will be levied, a local law or, for a school district, a
resolution providing that the provisions of paragraph (a) of this subdi-
vision shall not apply to such real property within that municipal
corporation; provided, however, the provisions of this paragraph shall
not apply to real property owned or leased by a cooperative corporation
or on a condominium basis that had been previously subject to the
provisions of paragraph (a) of this subdivision prior to January 1,
2025. The provisions of this paragraph shall not apply to condos or
co-ops that are participating in an affordable housing tax credit
program or has a regulatory agreement with a federal, state, or local
agency related to affordable housing requirements.

Section 2 of this bill would amend subdivision 1 of section 339-y of the
Real Property Law by adding a new paragraph: (g) The provisions of para-
graph (b) of this subdivision shall not apply to real property owned or
leased by a cooperative corporation or on a condominium basis in a
municipal corporation other than a special assessing unit, which has
adopted, prior to the taxable status data of the assessment roll upon
which its taxes will be levied, a local law or, for a school district, a
resolution providing that the provisions of paragraph (b) of this subdi-
vision shall not apply to such real property within that municipal
corporation; provided, however, the provisions of this paragraph shall
not apply to real property owned or leased by a cooperative corporation
or on a condominium basis that had been previously subject to the
provisions of paragraph (b) of this subdivision prior to January 1,
2025. The provisions of this paragraph shall not apply to condos or
co-ops that are participating in an affordable housing tax credit
program or has a regulatory agreement with a federal, state, or local
agency related to affordable housing requirements.

Section 3 of this bill provides that the effective date shall take
effect immediately and shall apply to assessment rolls prepared on the
basis of taxable status dates occurring on or after January 1, 2025.

 
JUSTIFICATION:

As currently written, the Real Property Tax Law and the Real Property
Law does not allow the sum of the assessments of individual cooperative
or condominium units to exceed the value of the entire complex if it was
valued as a single entity. The restriction tends to reduce condominium
and cooperative assessments by preventing the use of sales of units in
the assessment process. The Office of Real Property Services, assessors
and other local officials generally consider the restrictions an unrea-
sonable state mandate that unfairly limits the revenue-raising abilities
of local governments. Assessors and appraisers also cite the difficul-
ties they encounter when they are forced to ignore market information -
usually the best indicator of value in developing estimates of taxable
value. This bill would allow municipal corporations to value newly
constructed and converted cooperative and condominium units as they
would other real property to alleviate any negative impacts placed on
the locality by the current statute.

 
LEGISLATIVE HISTORY:

2021-22: S.5946-B (Reichlin-Melnick) - Veto Memo 142.

2019-20: S.7057-A (Carlucci) - Referred to Local Government.

2017-18: S.1191-B (Little) - Ordered to Third Reading.

2015-16: S.618-A (Little) - Referred to Local Government.

2013-14: S.1000-A (Little) - Referred to Local Government.

2011-12: S.546-A (Little) - Referred to Local Government.

2009-10: S. 255 (Little) - Referred to Local Government.

2007-08: S. 7727 (Little) - Advanced to Third Reading.

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to assessment
rolls prepared on the basis of taxable status dates occurring on or
after January 1, 2025.

2023-S4065A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4065--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 2, 2023
                                ___________
 
 Introduced  by  Sen. MANNION -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government -- recom-
   mitted to the Committee on Local Government in accordance with  Senate
   Rule  6,  sec.  8  --  committee  discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee

 AN ACT to amend the real property tax law and the real property law,  in
   relation  to  the  taxation  of property owned by a cooperative corpo-
   ration
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision 1 of section 581 of the real property tax law
 is amended by adding a new paragraph (e) to read as follows:
   (E) THE PROVISIONS OF PARAGRAPH (A)  OF  THIS  SUBDIVISION  SHALL  NOT
 APPLY  TO  REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR
 ON A CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION, OTHER THAN A  SPECIAL
 ASSESSING  UNIT,  WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS DATE OF
 THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
 FOR A SCHOOL DISTRICT, A RESOLUTION PROVIDING  THAT  THE  PROVISIONS  OF
 PARAGRAPH  (A) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL PROPERTY
 WITHIN THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS  OF
 THIS  PARAGRAPH  SHALL  NOT  APPLY TO REAL PROPERTY OWNED OR LEASED BY A
 COOPERATIVE CORPORATION OR ON A CONDOMINIUM BASIS THAT HAD  BEEN  PREVI-
 OUSLY  SUBJECT  TO  THE  PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVISION
 PRIOR TO JANUARY FIRST,  TWO  THOUSAND  TWENTY-FIVE;  PROVIDED  FURTHER,
 HOWEVER,  THE PROVISIONS OF THIS PARAGRAPH SHALL NOT APPLY TO REAL PROP-
 ERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR  ON  A  CONDOMINIUM
 BASIS  THAT IS PARTICIPATING IN AN AFFORDABLE HOUSING TAX CREDIT PROGRAM
 OR HAS A REGULATORY AGREEMENT WITH A FEDERAL,  STATE,  OR  LOCAL  AGENCY
 RELATED TO AFFORDABLE HOUSING REQUIREMENTS.
   §  2.  Subdivision  1  of  section  339-y  of the real property law is
 amended by adding a new paragraph (h) to read as follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05606-02-4

 S. 4065--A                          2
 
   (H) THE PROVISIONS OF PARAGRAPH (B)  OF  THIS  SUBDIVISION  SHALL  NOT
 APPLY  TO  REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR
 ON A CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION OTHER THAN  A  SPECIAL
 ASSESSING  UNIT,  WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS DATE OF
 THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
 FOR  A  SCHOOL  DISTRICT,  A RESOLUTION PROVIDING THAT THE PROVISIONS OF
 PARAGRAPH (B) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL  PROPERTY
 WITHIN  THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS OF
 THIS PARAGRAPH SHALL NOT APPLY TO REAL PROPERTY OWNED  OR  LEASED  BY  A
 COOPERATIVE  CORPORATION  OR ON A CONDOMINIUM BASIS THAT HAD BEEN PREVI-
 OUSLY SUBJECT TO THE PROVISIONS OF PARAGRAPH  (B)  OF  THIS  SUBDIVISION
 PRIOR  TO  JANUARY  FIRST,  TWO  THOUSAND TWENTY-FIVE; PROVIDED FURTHER,
 HOWEVER, THE PROVISIONS OF THIS PARAGRAPH SHALL NOT APPLY TO REAL  PROP-
 ERTY  OWNED  OR  LEASED BY A COOPERATIVE CORPORATION OR ON A CONDOMINIUM
 BASIS THAT IS PARTICIPATING IN AN AFFORDABLE HOUSING TAX CREDIT  PROGRAM
 OR  HAS  A  REGULATORY  AGREEMENT WITH A FEDERAL, STATE, OR LOCAL AGENCY
 RELATED TO AFFORDABLE HOUSING REQUIREMENTS.
   § 3. This act shall take effect immediately and shall apply to assess-
 ment rolls prepared on the basis of taxable status dates occurring on or
 after January 1, 2025.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Senate Bill S4065A

Sponsored By

Current Bill Status - In Senate Committee Local Government Committee

Bill Amendments

2023-S4065 - Details

2023-S4065 - Summary

2023-S4065 - Sponsor Memo

2023-S4065 - Bill Text download pdf

2023-S4065A (ACTIVE) - Details

2023-S4065A (ACTIVE) - Summary

2023-S4065A (ACTIVE) - Sponsor Memo

2023-S4065A (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S4065A

Share this bill

Sponsored By

John W. Mannion

Current Bill Status - In Senate Committee Local Government Committee

Bill Amendments

2023-S4065 - Details

2023-S4065 - Summary

2023-S4065 - Sponsor Memo

2023-S4065 - Bill Text download pdf

2023-S4065A (ACTIVE) - Details

2023-S4065A (ACTIVE) - Summary

2023-S4065A (ACTIVE) - Sponsor Memo

2023-S4065A (ACTIVE) - Bill Text download pdf

Comments