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) 2019-06-14 - print number 7092a [A07092 Detail]

Download: New_York-2019-A07092-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                         7092--A

                               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, CRESPO,  EICHENSTEIN,  MOSLEY,
          REYES,  CRUZ, BARRON, BLAKE, HEVESI, EPSTEIN, GLICK, FRONTUS, BENEDET-
          TO, TAYLOR -- 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

        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 section 61 of part A of chapter  20
     9  of the laws of 2015, are 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-
    16  sion; provided, however, that a property held in the condominium form of
    17  ownership  that  is  receiving  complete  or  partial  real property tax
    18  exemption or tax abatement pursuant to any other provision of this chap-

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10319-05-9

        A. 7092--A                          2

     1  ter or any other state or local law, except as provided in paragraph (f)
     2  of this subdivision, shall not be eligible to receive a  partial  abate-
     3  ment  pursuant  to  this  section;  and provided, further, that sponsors
     4  shall  not  be  eligible to receive a partial abatement pursuant to this
     5  section; and provided, further, that in the fiscal years  commencing  in
     6  calendar years two thousand twelve[, two thousand thirteen, two thousand
     7  fourteen,  two  thousand  fifteen,  two  thousand  sixteen, two thousand
     8  seventeen or two thousand eighteen] through two thousand  twenty-one  no
     9  more than a maximum of three dwelling units owned by any unit owner in a
    10  single building, one of which must be the primary residence of such unit
    11  owner,  shall  be  eligible  to  receive a partial abatement pursuant to
    12  paragraphs (d-1), (d-2), (d-3) and (d-4) of this subdivision.
    13    (b) In a city having a population of one  million  or  more,  dwelling
    14  units  owned  by  tenant-stockholders  who, as of the applicable taxable
    15  status date, own no more than three dwelling units in any  one  property
    16  held  in the cooperative form of ownership, shall be eligible to receive
    17  a partial abatement of real property taxes, as set forth  in  paragraphs
    18  (c),  (d),  (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi-
    19  sion; provided, however, that a property held in the cooperative form of
    20  ownership that is  receiving  complete  or  partial  real  property  tax
    21  exemption or tax abatement pursuant to any other provision of this chap-
    22  ter or any other state or local law, except as provided in paragraph (f)
    23  of  this  subdivision, shall not be eligible to receive a partial abate-
    24  ment pursuant to this section;  and  provided,  further,  that  sponsors
    25  shall  not  be  eligible to receive a partial abatement pursuant to this
    26  section; and provided, further, that in the fiscal years  commencing  in
    27  calendar years two thousand twelve[, two thousand thirteen, two thousand
    28  fourteen,  two  thousand  fifteen,  two  thousand  sixteen, two thousand
    29  seventeen or two thousand eighteen] through two thousand  twenty-one  no
    30  more  than  a maximum of three dwelling units owned by any tenant-stock-
    31  holder in a single building, one of which must be the primary  residence
    32  of  such  tenant-stockholder,  shall  be  eligible  to receive a partial
    33  abatement pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4)  of  this
    34  subdivision.  For  purposes  of  this section, a tenant-stockholder of a
    35  cooperative apartment corporation shall be deemed to  own  the  dwelling
    36  unit  which  is represented by his or her shares of stock in such corpo-
    37  ration. Any abatement so granted shall be credited  by  the  appropriate
    38  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 section 62 of
    44  part A of chapter 20 of the  laws  of  2015,  are  amended  to  read  as
    45  follows:
    46    (d-1)  In  the  fiscal years commencing in calendar years two thousand
    47  twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
    48  ing units in property whose average unit assessed value is less than  or
    49  equal to fifty thousand dollars shall receive a partial abatement of the
    50  real  property  taxes  attributable  to or due on such dwelling units of
    51  twenty-five percent, twenty-six and one-half  percent  and  twenty-eight
    52  and  one-tenth  percent  respectively. In the fiscal years commencing in
    53  calendar years two thousand fifteen[, two thousand sixteen, two thousand
    54  seventeen and two thousand eighteen]  through  two  thousand  twenty-one
    55  eligible dwelling units in property whose average unit assessed value is
    56  less  than  or  equal  to fifty thousand dollars shall receive a partial

        A. 7092--A                          3

     1  abatement of the real property taxes attributable  to  or  due  on  such
     2  dwelling units of twenty-eight and one-tenth percent.
     3    (d-2)  In  the  fiscal years commencing in calendar years two thousand
     4  twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
     5  ing units in property whose average unit assessed  value  is  more  than
     6  fifty  thousand  dollars,  but less than or equal to fifty-five thousand
     7  dollars, shall receive a partial abatement of the  real  property  taxes
     8  attributable to or due on such dwelling units of twenty-two and one-half
     9  percent,  twenty-three and eight-tenths percent and twenty-five and two-
    10  tenths percent respectively. In the fiscal years commencing in  calendar
    11  years  two  thousand fifteen[, two thousand sixteen, two thousand seven-
    12  teen and two thousand eighteen] through two thousand twenty-one eligible
    13  dwelling units in property whose average unit  assessed  value  is  more
    14  than  fifty thousand dollars, but less than or equal to fifty-five thou-
    15  sand dollars, shall receive a partial abatement  of  the  real  property
    16  taxes  attributable  to or due on such dwelling units of twenty-five and
    17  two-tenths percent.
    18    (d-3) In the fiscal years commencing in calendar  years  two  thousand
    19  twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
    20  ing  units  in  property  whose average unit assessed value is more than
    21  fifty-five thousand dollars, but less than or equal  to  sixty  thousand
    22  dollars,  shall  receive  a partial abatement of the real property taxes
    23  attributable to or due on such dwelling units of twenty  percent,  twen-
    24  ty-one  and  two-tenths  percent, and twenty-two and five-tenths percent
    25  respectively. In the fiscal years commencing in calendar years two thou-
    26  sand fifteen[, two thousand sixteen,  two  thousand  seventeen  and  two
    27  thousand  eighteen]  through  two  thousand twenty-one eligible dwelling
    28  units in property whose average unit assessed value is more than  fifty-
    29  five thousand dollars, but less than or equal to sixty thousand dollars,
    30  shall  receive  a partial abatement of the real property taxes attribut-
    31  able to or due on such dwelling  units  of  twenty-two  and  five-tenths
    32  percent.
    33    (d-4)  In  the  fiscal years commencing in calendar years two thousand
    34  twelve[, two thousand thirteen,  two  thousand  fourteen,  two  thousand
    35  fifteen,  two  thousand sixteen, two thousand seventeen and two thousand
    36  eighteen] through two thousand twenty-one, eligible  dwelling  units  in
    37  property  whose  average unit assessed value is more than sixty thousand
    38  dollars shall receive a partial abatement of  the  real  property  taxes
    39  attributable  to or due on such dwelling units of seventeen and one-half
    40  percent.
    41    § 4. Paragraph (a) of subdivision 3 of section 467-a of the real prop-
    42  erty tax law, as amended by section 63 of part A of chapter  20  of  the
    43  laws of 2015, is amended to read as follows:
    44    (a)  An  application for an abatement pursuant to this section for the
    45  fiscal year commencing in  calendar  year  nineteen  hundred  ninety-six
    46  shall  be  made  no  later than the fifteenth day of September, nineteen
    47  hundred ninety-six. An application for an  abatement  pursuant  to  this
    48  section for the fiscal year commencing in calendar year nineteen hundred
    49  ninety-seven  shall  be made no later than the first day of April, nine-
    50  teen hundred ninety-seven. An application for an abatement  pursuant  to
    51  this  section  for  the fiscal year commencing in calendar year nineteen
    52  hundred ninety-eight shall be made no later than the first day of April,
    53  nineteen hundred ninety-eight. An application for an abatement  pursuant
    54  to this section for the fiscal year commencing in calendar year nineteen
    55  hundred  ninety-nine  shall  be made in accordance with this subdivision
    56  and subdivision three-a of this section. An application for an abatement

        A. 7092--A                          4

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