Bill Text: NY S06497 | 2019-2020 | General Assembly | Amended
Bill Title: Relates to extending certain provisions relating to a 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 2-0)
Status: (Passed) 2019-07-03 - SIGNED CHAP.90 [S06497 Detail]
Download: New_York-2019-S06497-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 6497--A 2019-2020 Regular Sessions IN SENATE June 14, 2019 ___________ Introduced by Sen. KAVANAGH -- read twice and ordered printed, and when printed to be committed to the Committee on Rules -- 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 extending certain provisions relating to a 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. Paragraphs (a) and (b) of subdivision 2 of section 467-a of 2 the real property tax law, as amended by section 61 of part A of chapter 3 20 of the laws of 2015, are amended to read as follows: 4 (a) In a city having a population of one million or more, dwelling 5 units owned by unit owners who, as of the applicable taxable status 6 date, own no more than three dwelling units in any one property held in 7 the condominium form of ownership, shall be eligible to receive a 8 partial abatement of real property taxes, as set forth in paragraphs 9 (c), (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi- 10 sion; provided, however, that a property held in the condominium form of 11 ownership that is receiving complete or partial real property tax 12 exemption or tax abatement pursuant to any other provision of this chap- 13 ter or any other state or local law, except as provided in paragraph (f) 14 of this subdivision, shall not be eligible to receive a partial abate- 15 ment pursuant to this section; and provided, further, that sponsors 16 shall not be eligible to receive a partial abatement pursuant to this 17 section; and provided, further, that in the fiscal years commencing in 18 calendar years two thousand twelve[, two thousand thirteen, two thousand19fourteen, two thousand fifteen, two thousand sixteen, two thousand20seventeen or two thousand eighteen] through two thousand twenty no more 21 than a maximum of three dwelling units owned by any unit owner in a EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD13372-02-9S. 6497--A 2 1 single building, one of which must be the primary residence of such unit 2 owner, shall be eligible to receive a partial abatement pursuant to 3 paragraphs (d-1), (d-2), (d-3) and (d-4) of this subdivision. 4 (b) In a city having a population of one million or more, dwelling 5 units owned by tenant-stockholders who, as of the applicable taxable 6 status date, own no more than three dwelling units in any one property 7 held in the cooperative form of ownership, shall be eligible to receive 8 a partial abatement of real property taxes, as set forth in paragraphs 9 (c), (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi- 10 sion; provided, however, that a property held in the cooperative form of 11 ownership that is receiving complete or partial real property tax 12 exemption or tax abatement pursuant to any other provision of this chap- 13 ter or any other state or local law, except as provided in paragraph (f) 14 of this subdivision, shall not be eligible to receive a partial abate- 15 ment pursuant to this section; and provided, further, that sponsors 16 shall not be eligible to receive a partial abatement pursuant to this 17 section; and provided, further, that in the fiscal years commencing in 18 calendar years two thousand twelve[, two thousand thirteen, two thousand19fourteen, two thousand fifteen, two thousand sixteen, two thousand20seventeen or two thousand eighteen] through two thousand twenty no more 21 than a maximum of three dwelling units owned by any tenant-stockholder 22 in a single building, one of which must be the primary residence of such 23 tenant-stockholder, shall be eligible to receive a partial abatement 24 pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4) of this subdivi- 25 sion. For purposes of this section, a tenant-stockholder of a cooper- 26 ative apartment corporation shall be deemed to own the dwelling unit 27 which is represented by his or her shares of stock in such corporation. 28 Any abatement so granted shall be credited by the appropriate taxing 29 authority against the tax due on the property as a whole. The reduction 30 in real property taxes received thereby shall be credited by the cooper- 31 ative apartment corporation against the amount of such taxes attribut- 32 able to eligible dwelling units at the time of receipt. 33 § 2. Paragraphs (d-1), (d-2), (d-3) and (d-4) of subdivision 2 of 34 section 467-a of the real property tax law, as amended by section 62 of 35 part A of chapter 20 of the laws of 2015, are amended to read as 36 follows: 37 (d-1) In the fiscal years commencing in calendar years two thousand 38 twelve, two thousand thirteen and two thousand fourteen, eligible dwell- 39 ing units in property whose average unit assessed value is less than or 40 equal to fifty thousand dollars shall receive a partial abatement of the 41 real property taxes attributable to or due on such dwelling units of 42 twenty-five percent, twenty-six and one-half percent and twenty-eight 43 and one-tenth percent respectively. In the fiscal years commencing in 44 calendar years two thousand fifteen[, two thousand sixteen, two thousand45seventeen and two thousand eighteen] through two thousand twenty eligi- 46 ble dwelling units in property whose average unit assessed value is less 47 than or equal to fifty thousand dollars shall receive a partial abate- 48 ment of the real property taxes attributable to or due on such dwelling 49 units of twenty-eight and one-tenth percent. 50 (d-2) In the fiscal years commencing in calendar years two thousand 51 twelve, two thousand thirteen and two thousand fourteen, eligible dwell- 52 ing units in property whose average unit assessed value is more than 53 fifty thousand dollars, but less than or equal to fifty-five thousand 54 dollars, shall receive a partial abatement of the real property taxes 55 attributable to or due on such dwelling units of twenty-two and one-half 56 percent, twenty-three and eight-tenths percent and twenty-five and two-S. 6497--A 3 1 tenths percent respectively. In the fiscal years commencing in calendar 2 years two thousand fifteen[, two thousand sixteen, two thousand seven-3teen and two thousand eighteen] through two thousand twenty eligible 4 dwelling units in property whose average unit assessed value is more 5 than fifty thousand dollars, but less than or equal to fifty-five thou- 6 sand dollars, shall receive a partial abatement of the real property 7 taxes attributable to or due on such dwelling units of twenty-five and 8 two-tenths percent. 9 (d-3) In the fiscal years commencing in calendar years two thousand 10 twelve, two thousand thirteen and two thousand fourteen, eligible dwell- 11 ing units in property whose average unit assessed value is more than 12 fifty-five thousand dollars, but less than or equal to sixty thousand 13 dollars, shall receive a partial abatement of the real property taxes 14 attributable to or due on such dwelling units of twenty percent, twen- 15 ty-one and two-tenths percent, and twenty-two and five-tenths percent 16 respectively. In the fiscal years commencing in calendar years two thou- 17 sand fifteen[, two thousand sixteen, two thousand seventeen and two18thousand eighteen] through two thousand twenty eligible dwelling units 19 in property whose average unit assessed value is more than fifty-five 20 thousand dollars, but less than or equal to sixty thousand dollars, 21 shall receive a partial abatement of the real property taxes attribut- 22 able to or due on such dwelling units of twenty-two and five-tenths 23 percent. 24 (d-4) In the fiscal years commencing in calendar years two thousand 25 twelve[, two thousand thirteen, two thousand fourteen, two thousand26fifteen, two thousand sixteen, two thousand seventeen and two thousand27eighteen] through two thousand twenty, eligible dwelling units in prop- 28 erty whose average unit assessed value is more than sixty thousand 29 dollars shall receive a partial abatement of the real property taxes 30 attributable to or due on such dwelling units of seventeen and one-half 31 percent. 32 § 3. Paragraph (a) of subdivision 3 of section 467-a of the real prop- 33 erty tax law, as amended by section 63 of part A of chapter 20 of the 34 laws of 2015, is amended to read as follows: 35 (a) An application for an abatement pursuant to this section for the 36 fiscal year commencing in calendar year nineteen hundred ninety-six 37 shall be made no later than the fifteenth day of September, nineteen 38 hundred ninety-six. An application for an abatement pursuant to this 39 section for the fiscal year commencing in calendar year nineteen hundred 40 ninety-seven shall be made no later than the first day of April, nine- 41 teen hundred ninety-seven. An application for an abatement pursuant to 42 this section for the fiscal year commencing in calendar year nineteen 43 hundred ninety-eight shall be made no later than the first day of April, 44 nineteen hundred ninety-eight. An application for an abatement pursuant 45 to this section for the fiscal year commencing in calendar year nineteen 46 hundred ninety-nine shall be made in accordance with this subdivision 47 and subdivision three-a of this section. An application for an abatement 48 pursuant to this section for the fiscal year commencing in calendar year 49 two thousand shall be made no later than the fifteenth day of February, 50 two thousand. An application for an abatement pursuant to this section 51 for the fiscal year commencing in calendar year two thousand one shall 52 be made in accordance with this subdivision and subdivision three-b of 53 this section. An application for an abatement pursuant to this section 54 for the fiscal year commencing in calendar year two thousand two shall 55 be made no later than the fifteenth day of February, two thousand two. 56 An application for an abatement pursuant to this section for the fiscalS. 6497--A 4 1 year commencing in calendar year two thousand three shall be made no 2 later than the fifteenth day of February, two thousand three. An appli- 3 cation for an abatement pursuant to this section for the fiscal year 4 commencing in calendar year two thousand four shall be made in accord- 5 ance with this subdivision and subdivision three-c of this section. An 6 application for an abatement pursuant to this section for the fiscal 7 year commencing in calendar year two thousand five shall be made no 8 later than the fifteenth day of February, two thousand five. An applica- 9 tion for an abatement pursuant to this section for the fiscal year 10 commencing in calendar year two thousand six shall be made no later than 11 the fifteenth day of February, two thousand six. An application for an 12 abatement pursuant to this section for the fiscal year commencing in 13 calendar year two thousand seven shall be made no later than the 14 fifteenth day of February, two thousand seven. An application for abate- 15 ment pursuant to this section for the fiscal year commencing in calendar 16 year two thousand eight shall be made in accordance with this subdivi- 17 sion and subdivision three-d of this section. An application for an 18 abatement pursuant to this section for the fiscal year commencing in 19 calendar year two thousand nine shall be made no later than the 20 fifteenth day of February, two thousand nine. An application for an 21 abatement pursuant to this section for the fiscal year commencing in 22 calendar year two thousand ten shall be made no later than the fifteenth 23 day of February, two thousand ten. An application for an abatement 24 pursuant to this section for the fiscal year commencing in calendar year 25 two thousand eleven shall be made no later than the fifteenth day of 26 February, two thousand eleven. An application for an abatement pursuant 27 to this section for the fiscal years commencing in calendar years two 28 thousand twelve and two thousand thirteen shall be made in accordance 29 with subdivision three-e of this section. The date or dates by which 30 applications for an abatement pursuant to this section shall be made for 31 the fiscal years beginning in calendar years two thousand fourteen[, two32thousand fifteen, two thousand sixteen, two thousand seventeen and two33thousand eighteen] through two thousand twenty shall be established by 34 the commissioner of finance by rule, provided that such date or dates 35 shall not be later than the fifteenth day of February for such calendar 36 years. 37 § 4. This act shall take effect immediately.
