Bill Text: NY S00853 | 2021-2022 | General Assembly | Introduced


Bill Title: Extends certain dates relating to the assessment of real property damaged by the severe storm that occurred on the twenty-ninth and thirtieth of October two thousand twelve in a city having a population of one million or more to 2023.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO LOCAL GOVERNMENT [S00853 Detail]

Download: New_York-2021-S00853-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                           853

                               2021-2022 Regular Sessions

                    IN SENATE

                                       (Prefiled)

                                     January 6, 2021
                                       ___________

        Introduced by Sen. GOUNARDES -- 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, in relation to extending
          certain dates relating to the assessment of real property  damaged  by
          the  severe  storm  that occurred on the twenty-ninth and thirtieth of
          October two thousand twelve 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. Paragraph (b) of subdivision 2, paragraph (b)  of  subdivi-
     2  sion 3 and subdivision 4 of section 1805-a of the real property tax law,
     3  as  added  by  chapter  14  of  the laws of 2015, are amended to read as
     4  follows:
     5    (b) "Aggregate physical increase" means the sum of physical  increases
     6  for  assessment  rolls  completed from two thousand fourteen through two
     7  thousand [twenty] twenty-three.
     8    (b) the department of finance increased the assessed  value  attribut-
     9  able to improvements on the property by means of a physical increase for
    10  an  assessment  roll  completed  from  two thousand fourteen through two
    11  thousand [twenty] twenty-three.
    12    4. Limitation on increases of assessed value. Notwithstanding subdivi-
    13  sion five of section eighteen hundred five of this article and any other
    14  provision to the contrary, increases in the assessed value  of  affected
    15  real  property shall be limited in the manner specified in this subdivi-
    16  sion.
    17    (a) Except as provided in  paragraph  (c)  of  this  subdivision,  for
    18  affected  real  property for which the assessed values on the assessment
    19  rolls completed in two thousand fourteen and two thousand fifteen do not
    20  reflect a physical  increase,  the  amount  of  the  aggregate  physical
    21  increase  shall not exceed the amount of the physical decrease reflected
    22  in the assessed value on the assessment roll completed in  two  thousand
    23  thirteen.  Any  increase  in  assessed  value from the preceding year in
    24  excess of the physical increase reflected in the current assessed value,

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03220-01-1

        S. 853                              2

     1  such physical increase limited as provided in  the  preceding  sentence,
     2  shall  be  subject  to the limitations on increases provided in subdivi-
     3  sions one, two and three of section eighteen hundred five of this  arti-
     4  cle.  In no event shall the assessed value of the affected real property
     5  appearing on an assessment roll completed for any given  year  from  two
     6  thousand  fifteen  to two thousand [twenty] twenty-three exceed what the
     7  assessed value would have been that year but for any physical  decreases
     8  or physical increases reflected in the assessed values on the assessment
     9  rolls  completed  from  two  thousand  thirteen to two thousand [twenty]
    10  twenty-three.
    11    (b) For affected real property for which the  assessed  value  on  the
    12  assessment  roll  completed  in  two  thousand  fourteen or two thousand
    13  fifteen reflects a physical increase, the assessed value as it  appeared
    14  on the assessment roll completed in two thousand fifteen shall be recal-
    15  culated  as  if  the limitation in paragraph (a) of this subdivision had
    16  been in effect for the assessment rolls completed in two thousand  four-
    17  teen  and  two thousand fifteen. The recalculation of the assessed value
    18  that appeared on the assessment roll completed in two  thousand  fifteen
    19  shall  not  affect the amount of taxes that were due and payable for the
    20  fiscal year beginning on the first of July, two thousand  fourteen.  The
    21  assessed  value  on the assessment rolls completed for each of the years
    22  from two thousand sixteen to two thousand [twenty] twenty-three shall be
    23  subject to the limitation on increases provided in paragraph (a) of this
    24  subdivision. Notwithstanding section fifteen hundred twelve of the char-
    25  ter of the city of New York and any other provision to the contrary, the
    26  commissioner of finance is authorized to correct  as  provided  in  this
    27  paragraph  the assessed value of affected real property appearing on the
    28  assessment roll completed in two thousand fifteen. Such correction shall
    29  be made no later than ninety days after the effective date  of  a  local
    30  law adopted in accordance with this section.
    31    (c) Notwithstanding paragraphs (a) and (b) of this subdivision, in the
    32  event  that the total square footage of the improvements on the affected
    33  real property appearing on any assessment roll completed from two  thou-
    34  sand  fourteen  to  two thousand [twenty] twenty-three exceeds the total
    35  square footage of the improvements on  the  property  appearing  on  the
    36  assessment  roll  completed  in  two  thousand twelve, the amount of the
    37  aggregate physical increase shall not  exceed  the  amount  computed  by
    38  multiplying  the  sum of the physical increases as calculated subject to
    39  this subdivision by a fraction, the numerator of which is equal  to  the
    40  amount  of  the total square footage of the improvements on the property
    41  for the current assessment roll, and the denominator of which  is  equal
    42  to  the  amount  of  the total square footage of the improvements on the
    43  property for the assessment roll completed in two thousand  twelve.  For
    44  purposes  of  this  paragraph,  if  improvements on the property located
    45  below grade were not  included  in  the  total  square  footage  of  the
    46  improvements  on  the  property for the assessment roll completed in two
    47  thousand twelve, such improvements shall not be included  in  the  total
    48  square  footage for subsequent assessment rolls if the improvements were
    49  moved above grade or other building elevations were constructed  on  the
    50  property  to  prevent  or mitigate flooding as part of reconstruction or
    51  repair in connection with the damage caused by  the  severe  storm  that
    52  occurred  on  the  twenty-ninth  and  thirtieth of October, two thousand
    53  twelve.
    54    § 2. This act shall take effect immediately.
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