Bill Text: NY A07314 | 2013-2014 | General Assembly | Amended

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Bill Title: Requires assessment disclosure notices in New York City to include a description of the method of assessment.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Vetoed) 2013-11-14 - tabled [A07314 Detail]

Download: New_York-2013-A07314-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        7314--A
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                     May 10, 2013
                                      ___________
       Introduced  by M. of A. QUART -- 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 requiring
         assessment  disclosure  notices  in  New  York  city  to   include   a
         description of the method of assessment
         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 511 of the real property  tax  law
    2  is amended by adding a new paragraph (c) to read as follows:
    3    (C) ASSESSMENT DISCLOSURE NOTIFICATION REQUIREMENTS; CERTAIN ASSESSING
    4  UNITS. IN A SPECIAL ASSESSING UNIT THAT IS A CITY, AN ASSESSMENT DISCLO-
    5  SURE NOTICE SHALL CONTAIN THE FOLLOWING:
    6    (I) PROPERTY IDENTIFICATION INFORMATION, INCLUDING ADDRESS, BLOCK, LOT
    7  AND TAX CLASS;
    8    (II)  FOR  CLASS  TWO  PROPERTIES, A LIST OF THE COMPARABLE PROPERTIES
    9  USED TO VALUE THE PROPERTIES;
   10    (III) THE MARKET VALUE OF THE PROPERTY;
   11    (IV) THE APPLICABLE ASSESSMENT RATIO;
   12    (V) THE ACTUAL ASSESSED VALUE AS DETERMINED BY MULTIPLYING THE  MARKET
   13  VALUE BY THE ASSESSMENT RATIO;
   14    (VI)  IF  AN ASSESSMENT CAP OR A TRANSITIONAL ASSESSMENT PROCESS IS IN
   15  USE, THE CAPPED OR TRANSITIONAL ASSESSMENT AND A DESCRIPTION OF SUCH CAP
   16  OR TRANSITIONAL ASSESSMENT INCLUDING THE PERCENTAGES AND LENGTH OF  TIME
   17  USED IN THEIR CALCULATION;
   18    (VII) A LIST OF APPLICABLE EXEMPTIONS, A DESCRIPTION OF EACH EXEMPTION
   19  AND THE AMOUNT OF EACH EXEMPTION.
   20    S  2.  Subdivision  9  of section 511 of the real property tax law, as
   21  added by section 2 of part X of chapter 56  of  the  laws  of  2010,  is
   22  amended to read as follows:
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10331-04-3
       A. 7314--A                          2
    1    9.  A  special assessing unit THAT IS NOT A CITY shall be deemed to be
    2  in compliance with the provisions of this section if it provides assess-
    3  ment disclosure notices to property  owners  in  an  alternative  manner
    4  which  includes,  at  a minimum, their tentative assessments, the market
    5  values  upon  which they were based, and the applicable level of assess-
    6  ment.
    7    S 3. This act shall take effect July 1, 2014.