Bill Text: NY A07092 | 2019-2020 | General Assembly | Amended


Bill Title: Eliminates the New York city condominium and cooperative tax abatement for dwelling units whose billable assessed value is two hundred thousand dollars or greater and instructs that the money used to formerly fund such abatement be reallocated to the New York city housing authority; extends certain provisions of the 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.

Spectrum: Partisan Bill (Democrat 26-0)

Status: (Introduced - Dead) 2020-09-09 - print number 7092b [A07092 Detail]

Download: New_York-2019-A07092-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                         7092--B

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                      April 5, 2019
                                       ___________

        Introduced  by  M.  of A. RODRIGUEZ, ORTIZ, CYMBROWITZ, DICKENS, D'URSO,
          L. ROSENTHAL, RIVERA, CUSICK, PICHARDO,  EICHENSTEIN,  MOSLEY,  REYES,
          CRUZ,  BARRON,  BLAKE,  HEVESI,  EPSTEIN,  GLICK,  FRONTUS, BENEDETTO,
          TAYLOR, JOYNER, SIMON --  Multi-Sponsored  by  --  M.  of  A.  ARROYO,
          DenDEKKER  -- read once and referred to the Committee on Real Property
          Taxation -- committee discharged, bill amended, ordered  reprinted  as
          amended  and  recommitted  to  said  committee  --  recommitted to the
          Committee on Real Property Taxation in accordance with  Assembly  Rule
          3,  sec. 2 -- 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  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:

     1    Section 1. Subdivision 2 of section 467-a of the real property tax law
     2  is amended by adding a new paragraph (b-2) to read as follows:
     3    (b-2) Notwithstanding any other provision of law to the  contrary  for
     4  fiscal years commencing in calendar years 2020 and after, the provisions
     5  of this section shall not apply to any dwelling unit for which the bill-
     6  able assessed value is two hundred thousand dollars or greater.
     7    §  2.  Paragraphs (a) and (b) of subdivision 2 of section 467-a of the
     8  real property tax law, as amended by chapter 90 of the laws of 2019, are
     9  amended to read as follows:
    10    (a) In a city having a population of one  million  or  more,  dwelling
    11  units  owned  by  unit  owners  who, as of the applicable taxable status
    12  date, own no more than three dwelling units in any one property held  in
    13  the  condominium  form  of  ownership,  shall  be  eligible to receive a
    14  partial abatement of real property taxes, as  set  forth  in  paragraphs
    15  (c),  (d),  (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi-

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10319-08-0

        A. 7092--B                          2

     1  sion; provided, however, that a property held in the condominium form of
     2  ownership that is  receiving  complete  or  partial  real  property  tax
     3  exemption or tax abatement pursuant to any other provision of this chap-
     4  ter or any other state or local law, except as provided in paragraph (f)
     5  of  this  subdivision, shall not be eligible to receive a partial abate-
     6  ment pursuant to this section;  and  provided,  further,  that  sponsors
     7  shall  not  be  eligible to receive a partial abatement pursuant to this
     8  section; and provided, further, that in the fiscal years  commencing  in
     9  calendar  years  two thousand twelve through two thousand [twenty] twen-
    10  ty-one no more than a maximum of three dwelling units owned by any  unit
    11  owner  in  a single building, one of which must be the primary residence
    12  of such unit owner, shall be eligible to  receive  a  partial  abatement
    13  pursuant  to  paragraphs  (d-1), (d-2), (d-3) and (d-4) of this subdivi-
    14  sion.
    15    (b) In a city having a population of one  million  or  more,  dwelling
    16  units  owned  by  tenant-stockholders  who, as of the applicable taxable
    17  status date, own no more than three dwelling units in any  one  property
    18  held  in the cooperative form of ownership, shall be eligible to receive
    19  a partial abatement of real property taxes, as set forth  in  paragraphs
    20  (c),  (d),  (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi-
    21  sion; provided, however, that a property held in the cooperative form of
    22  ownership that is  receiving  complete  or  partial  real  property  tax
    23  exemption or tax abatement pursuant to any other provision of this chap-
    24  ter or any other state or local law, except as provided in paragraph (f)
    25  of  this  subdivision, shall not be eligible to receive a partial abate-
    26  ment pursuant to this section;  and  provided,  further,  that  sponsors
    27  shall  not  be  eligible to receive a partial abatement pursuant to this
    28  section; and provided, further, that in the fiscal years  commencing  in
    29  calendar  years  two thousand twelve through two thousand [twenty] twen-
    30  ty-one no more than a maximum of  three  dwelling  units  owned  by  any
    31  tenant-stockholder in a single building, one of which must be the prima-
    32  ry  residence of such tenant-stockholder, shall be eligible to receive a
    33  partial abatement pursuant to paragraphs (d-1), (d-2), (d-3)  and  (d-4)
    34  of  this subdivision. For purposes of this section, a tenant-stockholder
    35  of a cooperative apartment corporation shall be deemed to own the dwell-
    36  ing unit which is represented by his or her  shares  of  stock  in  such
    37  corporation. Any abatement so granted shall be credited by the appropri-
    38  ate taxing authority against the tax due on the property as a whole. The
    39  reduction  in  real property taxes received thereby shall be credited by
    40  the cooperative apartment corporation against the amount of  such  taxes
    41  attributable to eligible dwelling units at the time of receipt.
    42    §  3.  Paragraphs  (d-1),  (d-2),  (d-3) and (d-4) of subdivision 2 of
    43  section 467-a of the real property tax law, as amended by chapter 90  of
    44  the laws of 2019, are amended to read as follows:
    45    (d-1)  In  the  fiscal years commencing in calendar years two thousand
    46  twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
    47  ing units in property whose average unit assessed value is less than  or
    48  equal to fifty thousand dollars shall receive a partial abatement of the
    49  real  property  taxes  attributable  to or due on such dwelling units of
    50  twenty-five percent, twenty-six and one-half  percent  and  twenty-eight
    51  and  one-tenth  percent  respectively. In the fiscal years commencing in
    52  calendar years two thousand fifteen through two thousand [twenty]  twen-
    53  ty-one  eligible  dwelling units in property whose average unit assessed
    54  value is less than or equal to fifty thousand dollars  shall  receive  a
    55  partial  abatement  of the real property taxes attributable to or due on
    56  such dwelling units of twenty-eight and one-tenth percent.

        A. 7092--B                          3

     1    (d-2) In the fiscal years commencing in calendar  years  two  thousand
     2  twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
     3  ing  units  in  property  whose average unit assessed value is more than
     4  fifty thousand dollars, but less than or equal  to  fifty-five  thousand
     5  dollars,  shall  receive  a partial abatement of the real property taxes
     6  attributable to or due on such dwelling units of twenty-two and one-half
     7  percent, twenty-three and eight-tenths percent and twenty-five and  two-
     8  tenths  percent respectively. In the fiscal years commencing in calendar
     9  years two thousand fifteen  through  two  thousand  [twenty]  twenty-one
    10  eligible dwelling units in property whose average unit assessed value is
    11  more  than  fifty thousand dollars, but less than or equal to fifty-five
    12  thousand dollars, shall receive a partial abatement of the real property
    13  taxes attributable to or due on such dwelling units of  twenty-five  and
    14  two-tenths percent.
    15    (d-3)  In  the  fiscal years commencing in calendar years two thousand
    16  twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
    17  ing units in property whose average unit assessed  value  is  more  than
    18  fifty-five  thousand  dollars,  but less than or equal to sixty thousand
    19  dollars, shall receive a partial abatement of the  real  property  taxes
    20  attributable  to  or due on such dwelling units of twenty percent, twen-
    21  ty-one and two-tenths percent, and twenty-two  and  five-tenths  percent
    22  respectively. In the fiscal years commencing in calendar years two thou-
    23  sand  fifteen through two thousand [twenty] twenty-one eligible dwelling
    24  units in property whose average unit assessed value is more than  fifty-
    25  five thousand dollars, but less than or equal to sixty thousand dollars,
    26  shall  receive  a partial abatement of the real property taxes attribut-
    27  able to or due on such dwelling  units  of  twenty-two  and  five-tenths
    28  percent.
    29    (d-4)  In  the  fiscal years commencing in calendar years two thousand
    30  twelve through two thousand [twenty] twenty-one, eligible dwelling units
    31  in property whose average unit assessed value is more than  sixty  thou-
    32  sand  dollars  shall  receive  a  partial abatement of the real property
    33  taxes attributable to or due on such dwelling  units  of  seventeen  and
    34  one-half percent.
    35    § 4. Paragraph (a) of subdivision 3 of section 467-a of the real prop-
    36  erty  tax  law, as amended by chapter 90 of the laws of 2019, is amended
    37  to read as follows:
    38    (a) An application for an abatement pursuant to this section  for  the
    39  fiscal  year  commencing  in  calendar  year nineteen hundred ninety-six
    40  shall be made no later than the fifteenth  day  of  September,  nineteen
    41  hundred  ninety-six.  An  application  for an abatement pursuant to this
    42  section for the fiscal year commencing in calendar year nineteen hundred
    43  ninety-seven shall be made no later than the first day of  April,  nine-
    44  teen  hundred  ninety-seven. An application for an abatement pursuant to
    45  this section for the fiscal year commencing in  calendar  year  nineteen
    46  hundred ninety-eight shall be made no later than the first day of April,
    47  nineteen  hundred ninety-eight. An application for an abatement pursuant
    48  to this section for the fiscal year commencing in calendar year nineteen
    49  hundred ninety-nine shall be made in accordance  with  this  subdivision
    50  and subdivision three-a of this section. An application for an abatement
    51  pursuant to this section for the fiscal year commencing in calendar year
    52  two  thousand shall be made no later than the fifteenth day of February,
    53  two thousand. An application for an abatement pursuant to  this  section
    54  for  the  fiscal year commencing in calendar year two thousand one shall
    55  be made in accordance with this subdivision and subdivision  three-b  of
    56  this  section.  An application for an abatement pursuant to this section

        A. 7092--B                          4

     1  for the fiscal year commencing in calendar year two thousand  two  shall
     2  be  made  no later than the fifteenth day of February, two thousand two.
     3  An application for an abatement pursuant to this section for the  fiscal
     4  year  commencing  in  calendar  year two thousand three shall be made no
     5  later than the fifteenth day of February, two thousand three. An  appli-
     6  cation  for  an  abatement  pursuant to this section for the fiscal year
     7  commencing in calendar year two thousand four shall be made  in  accord-
     8  ance  with  this subdivision and subdivision three-c of this section. An
     9  application for an abatement pursuant to this  section  for  the  fiscal
    10  year  commencing  in  calendar  year  two thousand five shall be made no
    11  later than the fifteenth day of February, two thousand five. An applica-
    12  tion for an abatement pursuant to  this  section  for  the  fiscal  year
    13  commencing in calendar year two thousand six shall be made no later than
    14  the  fifteenth  day of February, two thousand six. An application for an
    15  abatement pursuant to this section for the  fiscal  year  commencing  in
    16  calendar  year  two  thousand  seven  shall  be  made  no later than the
    17  fifteenth day of February, two thousand seven. An application for abate-
    18  ment pursuant to this section for the fiscal year commencing in calendar
    19  year two thousand eight shall be made in accordance with  this  subdivi-
    20  sion  and  subdivision  three-d  of  this section. An application for an
    21  abatement pursuant to this section for the  fiscal  year  commencing  in
    22  calendar  year  two  thousand  nine  shall  be  made  no  later than the
    23  fifteenth day of February, two thousand  nine.  An  application  for  an
    24  abatement  pursuant  to  this  section for the fiscal year commencing in
    25  calendar year two thousand ten shall be made no later than the fifteenth
    26  day of February, two thousand  ten.  An  application  for  an  abatement
    27  pursuant to this section for the fiscal year commencing in calendar year
    28  two  thousand  eleven  shall  be made no later than the fifteenth day of
    29  February, two thousand eleven. An application for an abatement  pursuant
    30  to  this  section  for the fiscal years commencing in calendar years two
    31  thousand twelve and two thousand thirteen shall be  made  in  accordance
    32  with  subdivision  three-e  of  this section. The date or dates by which
    33  applications for an abatement pursuant to this section shall be made for
    34  the fiscal years beginning  in  calendar  years  two  thousand  fourteen
    35  through  two  thousand  [twenty]  twenty-one shall be established by the
    36  commissioner of finance by rule, provided that such date or dates  shall
    37  not be later than the fifteenth day of February for such calendar years.
    38    § 5. For fiscal years commencing in calendar years 2020 and after, the
    39  New  York city department of finance shall reallocate the monies used to
    40  provide the partial tax abatement for residential real property held  in
    41  the  cooperative  or  condominium  form  of ownership for dwelling units
    42  whose billable assessed value is two hundred thousand dollars or  great-
    43  er,  which are now ineligible for such tax abatement pursuant to section
    44  one of this act, to be deposited in a special account in the name of the
    45  New York city housing authority.  Payment from such account shall be  on
    46  the authorization of the commissioner of the department of housing pres-
    47  ervation and development.
    48    § 6. This act shall take effect immediately.
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