Bill Text: NY A07326 | 2013-2014 | General Assembly | Amended

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Bill Title: Requires real property in New York City to be assessed using a fair comparative.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-05-28 - reported referred to ways and means [A07326 Detail]

Download: New_York-2013-A07326-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        7326--C
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                     May 10, 2013
                                      ___________
       Introduced  by M. of A. QUART -- read once and referred to the Committee
         on Real Property Taxation -- recommitted  to  the  Committee  on  Real
         Property  Taxation  in  accordance  with  Assembly  Rule  3, sec. 2 --
         committee discharged, bill amended, ordered reprinted as  amended  and
         recommitted  to  said  committee -- again reported from said committee
         with amendments, ordered reprinted as amended and recommitted to  said
         committee  --  again  reported  from  said  committee with amendments,
         ordered reprinted as amended and recommitted to said committee
       AN ACT to amend the real property tax law, in relation to requiring real
         property to be assessed using a fair comparative
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Paragraph (a) of subdivision 1 of section 581 of the real
    2  property tax law, as amended by chapter 223 of  the  laws  of  1989,  is
    3  amended to read as follows:
    4    (a) Notwithstanding any other provision of law, real property owned or
    5  leased  by  a cooperative corporation or on a condominium basis shall be
    6  assessed for purposes of this chapter at a sum not exceeding the assess-
    7  ment which would be placed upon such parcel were the parcel not owned or
    8  leased by a cooperative corporation or on  a  condominium  basis.  IN  A
    9  SPECIAL  ASSESSING UNIT THAT IS A CITY, NOTHING IN THIS SECTION SHALL BE
   10  CONSTRUED TO REQUIRE THE USE OF RENT-REGULATED PROPERTIES AS  COMPARISON
   11  PROPERTIES  FOR  ASSESSMENT  PURPOSES. FOR THE PURPOSE OF THIS PARAGRAPH
   12  ONLY, THE TERM "RENT-REGULATED PROPERTIES" SHALL MEAN  HOUSING  ACCOMMO-
   13  DATIONS  WHICH ARE SUBJECT TO THE REGULATIONS AND CONTROL OF RESIDENTIAL
   14  RENTS AND EVICTIONS PURSUANT TO THE EMERGENCY HOUSING RENT CONTROL  LAW,
   15  THE  LOCAL  EMERGENCY  HOUSING  RENT  CONTROL  ACT, THE EMERGENCY TENANT
   16  PROTECTION ACT OF NINETEEN SEVENTY-FOUR, THE  NEW  YORK  CITY  RENT  AND
   17  REHABILITATION  LAW OR THE NEW YORK CITY RENT STABILIZATION LAW OF NINE-
   18  TEEN HUNDRED SIXTY-NINE. FOR THE PURPOSE OF  THIS  PARAGRAPH  ONLY,  THE
   19  TERM  "COMPARISON PROPERTIES" SHALL MEAN ANY REAL PROPERTY CONSIDERED BY
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10198-05-4
       A. 7326--C                          2
    1  AN ASSESSOR TO BE SUFFICIENTLY SIMILAR  TO  A  SUBJECT  PROPERTY  TO  BE
    2  COMPARED TO IT TO DETERMINE THE SUBJECT PROPERTY'S ASSESSMENT.
    3    S 2. This act shall take effect immediately.