Bill Text: NY A07531 | 2015-2016 | General Assembly | Introduced
Bill Title: Relates to partial tax abatement for residential real property held in the cooperative or condominium form of ownership in New York City.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Introduced - Dead) 2016-01-06 - referred to real property taxation [A07531 Detail]
Download: New_York-2015-A07531-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 7531 2015-2016 Regular Sessions I N A S S E M B L Y May 15, 2015 ___________ Introduced by M. of A. BRAUNSTEIN, GOTTFRIED -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to 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 chapter 4 of the laws of 2013, 3 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 [year] YEARS commenc- 18 ing in calendar years two thousand twelve, two thousand thirteen, [or] 19 two thousand fourteen, TWO THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN OR TWO 20 THOUSAND SEVENTEEN no more than a maximum of three dwelling units owned 21 by any unit owner in a single building, one of which must be the primary 22 residence of such unit owner, shall be eligible to receive a partial EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10965-02-5 A. 7531 2 1 abatement pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4) of this 2 [section] SUBDIVISION. 3 (b) In a city having a population of one million or more, dwelling 4 units owned by tenant-stockholders who, as of the applicable taxable 5 status date, own no more than three dwelling units in any one property 6 held in the cooperative form of ownership, shall be eligible to receive 7 a partial abatement of real property taxes, as set forth in paragraphs 8 (c), (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi- 9 sion; provided, however, that a property held in the cooperative form of 10 ownership that is receiving complete or partial real property tax 11 exemption or tax abatement pursuant to any other provision of this chap- 12 ter or any other state or local law, except as provided in paragraph (f) 13 of this subdivision, shall not be eligible to receive a partial abate- 14 ment pursuant to this section; and provided, further, that sponsors 15 shall not be eligible to receive a partial abatement pursuant to this 16 section; and provided, further, that in the fiscal [year] YEARS commenc- 17 ing in calendar years two thousand twelve, two thousand thirteen [or], 18 two thousand fourteen, TWO THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN OR TWO 19 THOUSAND SEVENTEEN no more than a maximum of three dwelling units owned 20 by any tenant-stockholder in a single building, one of which must be the 21 primary residence of such tenant-stockholder, shall be eligible to 22 receive a partial abatement pursuant to paragraphs (d-1), (d-2), (d-3) 23 and (d-4) of this [section] SUBDIVISION. For purposes of this section, 24 a tenant-stockholder of a cooperative apartment corporation shall be 25 deemed to own the dwelling unit which is represented by his or her 26 shares of stock in such corporation. Any abatement so granted shall be 27 credited by the appropriate taxing authority against the tax due on the 28 property as a whole. The reduction in real property taxes received 29 thereby shall be credited by the cooperative apartment corporation 30 against the amount of such taxes attributable to eligible dwelling units 31 at the time of receipt. 32 S 2. Paragraphs (d-1), (d-2), (d-3) and (d-4) of subdivision 2 of 33 section 467-a of the real property tax law, as added by chapter 4 of the 34 laws of 2013, are amended to read as follows: 35 (d-1) In the fiscal years commencing in calendar [year] YEARS two 36 thousand twelve, two thousand thirteen and two thousand fourteen, eligi- 37 ble dwelling units in property whose average unit assessed value is less 38 than or equal to fifty thousand dollars shall receive a partial abate- 39 ment of the real property taxes attributable to or due on such dwelling 40 units of twenty-five percent, twenty-six and one-half percent and twen- 41 ty-eight and one-tenth percent respectively. IN THE FISCAL YEARS 42 COMMENCING IN CALENDAR YEARS TWO THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN 43 AND TWO THOUSAND SEVENTEEN, ELIGIBLE DWELLING UNITS IN PROPERTY WHOSE 44 AVERAGE UNIT ASSESSED VALUE IS LESS THAN OR EQUAL TO FIFTY THOUSAND 45 DOLLARS SHALL RECEIVE A PARTIAL ABATEMENT OF THE REAL PROPERTY TAXES 46 ATTRIBUTABLE TO OR DUE ON SUCH DWELLING UNITS OF TWENTY-EIGHT AND 47 ONE-TENTH PERCENT. 48 (d-2) In the fiscal years commencing in calendar [year] YEARS two 49 thousand twelve, two thousand thirteen and two thousand fourteen, eligi- 50 ble dwelling units in property whose average unit assessed value is more 51 than fifty thousand dollars, but less than or equal to fifty-five thou- 52 sand dollars, shall receive a partial abatement of the real property 53 taxes attributable to or due on such dwelling units of twenty-two and 54 one-half percent, twenty-three and eight-tenths percent and twenty-five 55 and two-tenths percent respectively. IN THE FISCAL YEARS COMMENCING IN 56 CALENDAR YEARS TWO THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN AND TWO THOU- A. 7531 3 1 SAND SEVENTEEN, ELIGIBLE DWELLING UNITS IN PROPERTY WHOSE AVERAGE UNIT 2 ASSESSED VALUE IS MORE THAN FIFTY THOUSAND DOLLARS, BUT LESS THAN OR 3 EQUAL TO FIFTY-FIVE THOUSAND DOLLARS, SHALL RECEIVE A PARTIAL ABATEMENT 4 OF THE REAL PROPERTY TAXES ATTRIBUTABLE TO OR DUE ON SUCH DWELLING UNITS 5 OF TWENTY-FIVE AND TWO-TENTHS PERCENT. 6 (d-3) In the fiscal years commencing in calendar [year] YEARS two 7 thousand twelve, two thousand thirteen and two thousand fourteen, eligi- 8 ble dwelling units in property whose average unit assessed value is more 9 than fifty-five thousand dollars, but less than or equal to sixty thou- 10 sand dollars, shall receive a partial abatement of the real property 11 taxes attributable to or due on such dwelling units of twenty percent, 12 twenty-one and two-tenths percent, and twenty-two and five-tenths 13 percent respectively. IN THE FISCAL YEARS COMMENCING IN CALENDAR YEARS 14 TWO THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN AND TWO THOUSAND SEVENTEEN, 15 ELIGIBLE DWELLING UNITS IN PROPERTY WHOSE AVERAGE UNIT ASSESSED VALUE IS 16 MORE THAN FIFTY-FIVE THOUSAND DOLLARS, BUT LESS THAN OR EQUAL TO SIXTY 17 THOUSAND DOLLARS, SHALL RECEIVE A PARTIAL ABATEMENT OF THE REAL PROPERTY 18 TAXES ATTRIBUTABLE TO OR DUE ON SUCH DWELLING UNITS OF TWENTY-TWO AND 19 FIVE-TENTHS PERCENT. 20 (d-4) In the fiscal years commencing in calendar [year] YEARS two 21 thousand twelve, two thousand thirteen [and], two thousand fourteen, TWO 22 THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN AND TWO THOUSAND SEVENTEEN, 23 eligible dwelling units in property whose average unit assessed value is 24 more than sixty thousand dollars shall receive a partial abatement of 25 the real property taxes attributable to or due on such dwelling units of 26 seventeen and one-half percent. 27 S 3. Paragraphs (a), (b) and (c) of subdivision 3 of section 467-a of 28 the real property tax law, as amended by chapter 4 of the laws of 2013, 29 are amended to read as follows: 30 (a) An application for an abatement pursuant to this section for the 31 fiscal year commencing in calendar year nineteen hundred ninety-six 32 shall be made no later than the fifteenth day of September, nineteen 33 hundred ninety-six. An application for an abatement pursuant to this 34 section for the fiscal year commencing in calendar year nineteen hundred 35 ninety-seven shall be made no later than the first day of April, nine- 36 teen hundred ninety-seven. An application for an abatement pursuant to 37 this section for the fiscal year commencing in calendar year nineteen 38 hundred ninety-eight shall be made no later than the first day of April, 39 nineteen hundred ninety-eight. An application for an abatement pursuant 40 to this section for the fiscal year commencing in calendar year nineteen 41 hundred ninety-nine shall be made in accordance with this subdivision 42 and subdivision three-a of this section. An application for an abatement 43 pursuant to this section for the fiscal year commencing in calendar year 44 two thousand shall be made no later than the fifteenth day of February, 45 two thousand. An application for an abatement pursuant to this section 46 for the fiscal year commencing in calendar year two thousand one shall 47 be made in accordance with this subdivision and subdivision three-b of 48 this section. An application for an abatement pursuant to this section 49 for the fiscal year commencing in calendar year two thousand two shall 50 be made no later than the fifteenth day of February, two thousand two. 51 An application for an abatement pursuant to this section for the fiscal 52 year commencing in calendar year two thousand three shall be made no 53 later than the fifteenth day of February, two thousand three. An appli- 54 cation for an abatement pursuant to this section for the fiscal year 55 commencing in calendar year two thousand four shall be made in accord- 56 ance with this subdivision and subdivision three-c of this section. An A. 7531 4 1 application for an abatement pursuant to this section for the fiscal 2 year commencing in calendar year two thousand five shall be made no 3 later than the fifteenth day of February, two thousand five. An applica- 4 tion for an abatement pursuant to this section for the fiscal year 5 commencing in calendar year two thousand six shall be made no later than 6 the fifteenth day of February, two thousand six. An application for an 7 abatement pursuant to this section for the fiscal year commencing in 8 calendar year two thousand seven shall be made no later than the 9 fifteenth day of February, two thousand seven. An application for abate- 10 ment pursuant to this section for the fiscal year commencing in calendar 11 year two thousand eight shall be made in accordance with this subdivi- 12 sion and subdivision three-d of this section. An application for an 13 abatement pursuant to this section for the fiscal year commencing in 14 calendar year two thousand nine shall be made no later than the 15 fifteenth day of February, two thousand nine. An application for an 16 abatement pursuant to this section for the fiscal year commencing in 17 calendar year two thousand ten shall be made no later than the fifteenth 18 day of February, two thousand ten. An application for an abatement 19 pursuant to this section for the fiscal year commencing in calendar year 20 two thousand eleven shall be made no later than the fifteenth day of 21 February, two thousand eleven. An application for an abatement pursuant 22 to this section for the fiscal years commencing in calendar years two 23 thousand twelve and two thousand thirteen shall be made in accordance 24 with subdivision three-e of this section. The date or dates by which 25 applications for an abatement pursuant to this section shall be made for 26 the fiscal year beginning in calendar year two thousand fourteen shall 27 be established by the commissioner of finance by rule, provided that 28 such date or dates shall not be later than the fifteenth day of February 29 for such calendar year. APPLICATIONS FOR AN ABATEMENT PURSUANT TO THIS 30 SECTION FOR THE FISCAL YEARS COMMENCING IN CALENDAR YEARS TWO THOUSAND 31 FIFTEEN, TWO THOUSAND SIXTEEN AND TWO THOUSAND SEVENTEEN SHALL BE MADE 32 NO LATER THAN THE FIFTEENTH DAY OF MARCH FOR EACH RESPECTIVE CALENDAR 33 YEAR. 34 (b) (I) An application for an abatement pursuant to this section shall 35 be submitted to the commissioner of finance by the board of managers of 36 a condominium or the board of directors of a cooperative apartment 37 corporation, provided that the commissioner of finance may by rule 38 require the owner of a dwelling unit to submit an application to supple- 39 ment information contained in the application submitted by the board of 40 managers of a condominium or the board of directors of a cooperative 41 apartment corporation and may by rule apply and adjust, as appropriate, 42 any provisions of this section that relate to applications submitted by 43 such boards to applications submitted by such owners. 44 (II) NOTWITHSTANDING SUBPARAGRAPH (I) OF THIS PARAGRAPH OR ANY OTHER 45 PROVISION OF LAW TO THE CONTRARY, THE COMMISSIONER OF FINANCE MAY BY 46 RULE REQUIRE THAT APPLICATIONS BE SUBMITTED BY DWELLING UNIT OWNERS 47 INSTEAD OF, OR IN ADDITION TO, THOSE SUBMITTED BY THE BOARD OF MANAGERS 48 OF A CONDOMINIUM OR THE BOARD OF DIRECTORS OF A COOPERATIVE APARTMENT 49 CORPORATION FOR APPLICATIONS FOR FISCAL YEARS COMMENCING IN CALENDAR 50 YEAR TWO THOUSAND FIFTEEN OR LATER. 51 (c) (I) No abatement pursuant to this section shall be granted unless 52 the applicant files an application for an abatement within the time 53 periods prescribed in paragraph (a) of this subdivision or subdivision 54 three-a, three-b, three-c, three-d or three-e of this section, provided, 55 however, that the commissioner of finance may, for good cause shown, 56 extend the time for filing an application. A. 7531 5 1 (II) NOTWITHSTANDING SUBPARAGRAPH (I) OF THIS PARAGRAPH OR ANY OTHER 2 PROVISION OF LAW TO THE CONTRARY, THE COMMISSIONER OF FINANCE MAY 3 PROVIDE BY RULE THAT APPLICATIONS ARE NOT REQUIRED TO BE FILED ON AN 4 ANNUAL BASIS. 5 S 4. This act shall take effect immediately.