Bill Text: NY A05069 | 2011-2012 | General Assembly | Introduced

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Bill Title: Relates to the definition of the term "prior assessment" for the purposes of transition assessments; establishes where the prior assessment had not been determined to be at full value then the prior assessment shall be determined by applying the latest state equalization rate for such assessing unit.

Spectrum: Strong Partisan Bill (Republican 16-1)

Status: (Introduced - Dead) 2012-05-08 - held for consideration in real property taxation [A05069 Detail]

Download: New_York-2011-A05069-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5069
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 11, 2011
                                      ___________
       Introduced  by  M.  of  A.  AMEDORE,  MOLINARO,  SALADINO, OAKS, CROUCH,
         HAWLEY, TOBACCO -- Multi-Sponsored by -- M. of  A.  BARCLAY,  BURLING,
         CORWIN,  FINCH,  GIGLIO,  JORDAN,  McDONOUGH, RAIA, TEDISCO, THIELE --
         read once and referred to the Committee on Real Property Taxation
       AN ACT to amend the real property tax law,  in  relation  to  transition
         assessments
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 1904 of the real property tax  law  is  amended  by
    2  adding a new subdivision 9 to read as follows:
    3    9.  FOR  THE  PURPOSES  OF  THIS SECTION, "PRIOR ASSESSMENT" MEANS THE
    4  ASSESSMENT ON THE ROLL IMMEDIATELY PRECEDING THE ROLL FOR WHICH  ASSESS-
    5  MENTS ARE TO BE DETERMINED. IN SUCH CASES WHERE THE PRIOR ASSESSMENT HAD
    6  NOT  BEEN  DETERMINED TO BE AT FULL VALUE, THE PRIOR ASSESSMENT SHALL BE
    7  DETERMINED BY APPLYING THE  LATEST  STATE  EQUALIZATION  RATE  FOR  SUCH
    8  ASSESSING UNIT.
    9    S  2. This act shall take effect on the first of January next succeed-
   10  ing the date on which it shall have become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD07746-01-1