Bill Text: NY A06342 | 2009-2010 | General Assembly | Introduced
Bill Title: An act to amend the real property tax law, in relation to providing for a fixed real property assessed value for residential real property owned by certain persons sixty-five years of age or older, and providing state reimbursement to municipalities for lost real property tax revenue
Spectrum: Slight Partisan Bill (Republican 10-4)
Status: (Introduced - Dead) 2010-01-06 - referred to real property taxation [A06342 Detail]
Download: New_York-2009-A06342-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
6342
2009-2010 Regular Sessions
I N A S S E M B L Y
March 2, 2009
___________
Introduced by M. of A. GORDON, GREENE -- Multi-Sponsored by -- M. of A.
BACALLES, BARCLAY, BURLING, DUPREY, ERRIGO, FINCH, KOLB, MOLINARO,
PEOPLES, SAYWARD, TOWNSEND, WALKER, WEISENBERG, ZEBROWSKI -- read once
and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to providing for
a fixed real property assessed value for residential real property
owned by certain persons sixty-five years of age or older, and provid-
ing state reimbursement to municipalities for lost real property tax
revenue
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. The real property tax law is amended by adding a new
2 section 431 to read as follows:
3 S 431. PERSONS SIXTY-FIVE YEARS OF AGE OR OLDER; FIXED REAL PROPERTY
4 ASSESSED VALUE. 1. RESIDENTIAL REAL PROPERTY OWNED AND OCCUPIED AS THE
5 PRIMARY RESIDENCE, FOR TEN OR MORE CONSECUTIVE YEARS, OF ONE OR MORE
6 PERSONS, EACH OF WHOM IS SIXTY-FIVE YEARS OF AGE OR OLDER AND ALL OF
7 WHOM HAVE A COMBINED ANNUAL INCOME OF ONE HUNDRED THOUSAND DOLLARS OR
8 LESS FOR THE INCOME TAX YEAR IMMEDIATELY PRECEDING THE DATE OF APPLICA-
9 TION WHEN THE REAL PROPERTY TAXES ON SUCH RESIDENTIAL REAL PROPERTY
10 EQUALS OR EXCEEDS SIX PERCENT OF SUCH PERSONS' COMBINED ANNUAL INCOME,
11 OR RESIDENTIAL REAL PROPERTY OWNED AND OCCUPIED AS THE PRIMARY RESI-
12 DENCE, FOR TEN OR MORE CONSECUTIVE YEARS, OF A HUSBAND AND WIFE, ONE OF
13 WHOM IS SIXTY-FIVE YEARS OF AGE OR OLDER AND BOTH OF WHOM HAVE A
14 COMBINED ANNUAL INCOME OF ONE HUNDRED THOUSAND DOLLARS OR LESS FOR THE
15 INCOME TAX YEAR IMMEDIATELY PRECEDING THE DATE OF APPLICATION WHEN THE
16 REAL PROPERTY TAXES ON SUCH RESIDENTIAL REAL PROPERTY EQUALS OR EXCEEDS
17 SIX PERCENT OF SUCH HUSBAND'S AND WIFE'S COMBINED ANNUAL INCOME, SHALL
18 BE ELIGIBLE FOR THE FIXED REAL PROPERTY ASSESSED VALUE ESTABLISHED BY
19 THIS SECTION.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00108-01-9
A. 6342 2
1 2. FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE
2 THE FOLLOWING MEANINGS:
3 (A) "FIXED REAL PROPERTY ASSESSED VALUE" SHALL MEAN THE LOWER OF:
4 (I) THE ASSESSED VALUE OF REAL PROPERTY ESTABLISHED ON THE TAXABLE
5 STATUS DATE NEXT SUCCEEDING THE DATE ON WHICH AN ELIGIBLE REAL PROPERTY
6 OWNER ATTAINS THE AGE OF SIXTY-FIVE YEARS; OR
7 (II) THE ASSESSED VALUE OF REAL PROPERTY ESTABLISHED ON ANY TAXABLE
8 STATUS DATE SUBSEQUENT TO THE DATE UPON WHICH AN ELIGIBLE REAL PROPERTY
9 OWNER ATTAINS THE AGE OF SIXTY-FIVE YEARS, WHICH IS LOWER THAN THE
10 ASSESSED VALUE ESTABLISHED PURSUANT TO SUBPARAGRAPH (I) OF THIS PARA-
11 GRAPH.
12 (B) "RESIDENTIAL REAL PROPERTY" SHALL MEAN ANY ONE OR TWO FAMILY
13 DWELLING, INCLUDING CONDOMINIUM UNITS AND COOPERATIVE UNITS.
14 3. EACH TAXING AUTHORITY SHALL ANNUALLY DETERMINE THE FIXED REAL PROP-
15 ERTY ASSESSED VALUE FOR EACH ELIGIBLE REAL PROPERTY OWNER.
16 4. ANY PERSON ELIGIBLE FOR THE FIXED REAL PROPERTY ASSESSED VALUE
17 SHALL ANNUALLY APPLY TO THE APPROPRIATE ASSESSING UNIT FOR SUCH FIXED
18 ASSESSED VALUE. SUCH APPLICATION SHALL BE MADE IN SUCH MANNER AND FORM
19 AS SHALL BE DETERMINED BY THE STATE BOARD, AND SHALL REQUIRE PROOF OF
20 THE APPLICANTS' AGES AND INCOMES. SUCH APPLICATIONS SHALL BE FILED ON OR
21 BEFORE THE TAXABLE STATUS DATE OF THE REAL PROPERTY.
22 5. EVERY ASSESSING UNIT SHALL NOTIFY OR CAUSE TO BE NOTIFIED, EACH
23 PERSON OWNING RESIDENTIAL REAL PROPERTY WITHIN ITS JURISDICTION, OF THE
24 PROVISIONS OF THIS SECTION. SUCH NOTICE SHALL BE AND INCLUDE WORDS WHICH
25 ARE SUBSTANTIALLY THE FOLLOWING: "RESIDENTIAL REAL PROPERTY OWNED BY
26 PERSONS SIXTY-FIVE YEARS OF AGE OR OLDER AND HAVING A COMBINED ANNUAL
27 INCOME OF ONE HUNDRED THOUSAND DOLLARS OR LESS, WHEN THE REAL PROPERTY
28 TAXES ON SUCH PROPERTY EQUAL OR EXCEED SIX PERCENT OF THE COMBINED ANNU-
29 AL INCOME OF THE OWNERS, MAY BE ELIGIBLE FOR A FIXED REAL PROPERTY
30 ASSESSED VALUE. TO RECEIVE SUCH FIXED ASSESSED VALUE, ELIGIBLE OWNERS
31 OF QUALIFYING REAL PROPERTY MUST FILE AN APPLICATION WITH THEIR LOCAL
32 ASSESSOR ON OR BEFORE THE TAXABLE STATUS DATE. FOR FURTHER INFORMATION,
33 PLEASE CONTACT YOUR LOCAL ASSESSOR."
34 S 2. The real property tax law is amended by adding a new section 901
35 to read as follows:
36 S 901. EFFECT OF FIXED REAL PROPERTY ASSESSED VALUE UPON TAXING
37 AUTHORITIES; STATE AID. 1. LEVY OF TAXES; DETERMINATION OF TAXES DUE.
38 THE AMOUNT OF TAXES TO BE LEVIED FOR ANY TAXABLE YEAR SHALL BE DETER-
39 MINED WITHOUT REGARD TO THE FACT THAT STATE AID WILL BE PAYABLE PURSUANT
40 TO THIS SECTION. IN ADDITION, THE TAX RATE FOR ANY TAXABLE YEAR SHALL BE
41 DETERMINED AS IF NO PARCELS ARE SUBJECT TO A FIXED REAL PROPERTY
42 ASSESSED VALUE PURSUANT TO SECTION FOUR HUNDRED THIRTY-ONE OF THIS CHAP-
43 TER. HOWEVER, THE TAX RATE SO DETERMINED SHALL BE APPLIED TO THE TAXABLE
44 ASSESSED VALUE OF EACH PARCEL AFTER ACCOUNTING FOR ALL APPLICABLE
45 EXEMPTIONS.
46 2. TAX SAVINGS. THE TAX SAVINGS FOR EACH PARCEL SUBJECT TO A FIXED
47 REAL PROPERTY ASSESSED VALUE PURSUANT TO SECTION FOUR HUNDRED THIRTY-ONE
48 OF THIS CHAPTER SHALL BE COMPUTED BY SUBTRACTING THE AMOUNT ACTUALLY
49 LEVIED AGAINST THE PARCEL FROM THE AMOUNT THAT WOULD HAVE BEEN LEVIED IF
50 NOT FOR THE FIXED REAL PROPERTY ASSESSED VALUE. A STATEMENT SHALL THEN
51 BE PLACED ON THE TAX BILL FOR THE PARCEL IN SUBSTANTIALLY THE FOLLOWING
52 FORM: "YOUR TAX SAVINGS THIS YEAR RESULTING FROM THE FIXED REAL PROPERTY
53 ASSESSED VALUE IS $____."
54 3. STATE AID. (A) THE TOTAL TAX SAVINGS DULY PROVIDED BY EACH TAXING
55 AUTHORITY PURSUANT TO THIS SECTION SHALL BE A STATE CHARGE, WHICH SHALL
56 BE PAYABLE AS PROVIDED IN THIS SUBDIVISION.
A. 6342 3
1 (B) A TAXING AUTHORITY SEEKING STATE AID PURSUANT TO THIS SECTION
2 SHALL SUBMIT AN APPLICATION THEREFOR TO THE STATE BOARD. THE APPLICATION
3 SHALL INCLUDE SUCH INFORMATION AS THE STATE BOARD SHALL REQUIRE. IN
4 ADDITION, EACH TAXING AUTHORITY SHALL FILE A COPY OF SUCH APPLICATION
5 WITH THE COUNTY CLERK OF THE COUNTY IN WHICH AN ELIGIBLE PARCEL IS SITU-
6 ATE.
7 (C) UPON APPROVING AN APPLICATION FOR STATE AID PURSUANT TO THIS
8 SECTION, THE STATE BOARD SHALL COMPUTE AND CERTIFY THE AMOUNTS PAYABLE
9 TO THE TAXING AUTHORITY. SUCH STATE AID SHALL BE PAYABLE UPON THE AUDIT
10 AND WARRANT OF THE STATE COMPTROLLER FROM VOUCHERS CERTIFIED AND
11 APPROVED BY THE STATE BOARD.
12 (D) THE STATE BOARD MAY AUDIT AN APPLICATION FOR STATE AID PURSUANT TO
13 THIS SECTION WITHIN ONE YEAR AFTER AUTHORIZING PAYMENT THEREON. IF THE
14 STATE BOARD SHOULD DISCOVER THAT A TAXING AUTHORITY HAS RECEIVED A
15 GREATER OR LESSER AMOUNT OF SUCH AID THAN IT SHOULD HAVE RECEIVED, THE
16 STATE BOARD SHALL SO NOTIFY THE TAXING AUTHORITY, AND SHALL CAUSE THE
17 NEXT PAYMENT OF SUCH AID TO THE TAXING AUTHORITY TO BE ADJUSTED ACCORD-
18 INGLY.
19 4. INSTALLMENT PAYMENTS. WHEN REAL PROPERTY TAXES ARE PAYABLE IN
20 INSTALLMENTS PURSUANT TO LAW, THE TAX SAVINGS PROVIDED BY THIS SECTION
21 SHALL BE APPLIED PROPORTIONALLY AGAINST THE RESPECTIVE INSTALLMENTS.
22 5. UNTIMELY PAYMENT OF TAXES. WHEN TAXES ON A PROPERTY SUBJECT TO A
23 FIXED REAL PROPERTY ASSESSED VALUE PURSUANT TO SECTION FOUR HUNDRED
24 THIRTY-ONE OF THIS CHAPTER ARE NOT PAID IN A TIMELY MANNER, INTEREST,
25 PENALTIES AND ANY OTHER APPLICABLE CHARGES SHALL BE IMPOSED ONLY AGAINST
26 THE BALANCE DUE AFTER THE TAX SAVINGS PROVIDED BY THIS SECTION HAVE BEEN
27 DEDUCTED FROM THE TAXES OWED.
28 S 3. This act shall take effect immediately and shall apply to real
29 property with a taxable status date after such effective date.
