Bill Text: NY A00037 | 2021-2022 | General Assembly | Introduced

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Bill Title: Relates to corrections to assessed values following proceedings to review tax assessments.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - referred to real property taxation [A00037 Detail]

Download: New_York-2021-A00037-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                           37

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                       (Prefiled)

                                     January 6, 2021
                                       ___________

        Introduced  by M. of A. QUART -- read once and referred to the Committee
          on Real Property Taxation

        AN ACT to amend the administrative code of the  city  of  New  York,  in
          relation  to  corrections  to assessed values following proceedings to
          review tax assessments

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1. The administrative code of the city of New York is amended
     2  by adding a new section 11-231.1 to read as follows:
     3    § 11-231.1 Proceeding to review tax assessment; assessed  value.    a.
     4  The  assessed valuation of real property shall not be increased prior to
     5  the final determination by  the  tax  commission  where  proceedings  to
     6  review  or  correct the tax assessment have been commenced by the filing
     7  of a petition with the tax commission in accordance with section  11-231
     8  of this subchapter.
     9    b.  When an assessment is corrected following proceedings to review or
    10  correct the tax assessment of real  property,  such  corrected  assessed
    11  valuation  shall  immediately  be  used  by  the  tax commission and the
    12  department of finance for the year for which the correction is made  and
    13  shall be considered a rebuttable presumption in subsequent years.
    14    § 2. This act shall take effect immediately.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01543-01-1