Bill Text: NY A07577 | 2009-2010 | General Assembly | Introduced

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Bill Title: Partially exempts from taxation any multiple dwelling building converted to an owner occupied single family dwelling or that is reduced to at most two units within certain cities; such buildings shall be exempt for a period of one year to the extent of fifty percent of the value of the property after the completion of renovations, reduced by five percent per year for nine years.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2010-04-20 - held for consideration in real property taxation [A07577 Detail]

Download: New_York-2009-A07577-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7577
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                    April 16, 2009
                                      ___________
       Introduced by M. of A. BACALLES, O'MARA -- read once and referred to the
         Committee on Real Property Taxation
       AN  ACT  to amend the real property tax law, in relation to exemption of
         capital improvements to multiple dwelling buildings in certain cities
         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 421-l to read as follows:
    3    S 421-L. EXEMPTION OF CAPITAL IMPROVEMENTS TO MULTIPLE DWELLING BUILD-
    4  INGS WITHIN CERTAIN  CITIES.  1.  MULTIPLE  DWELLING  BUILDINGS,  RECON-
    5  STRUCTED,  ALTERED,  CONVERTED  BACK  TO AN OWNER OCCUPIED SINGLE FAMILY
    6  DWELLING OR ANY OWNER OCCUPIED MULTIPLE DWELLING  LOCATED  IN  ANY  CITY
    7  HAVING  A  POPULATION  OF:    (A) MORE THAN THIRTY THOUSAND NINE HUNDRED
    8  INHABITANTS BUT LESS THAN THIRTY-ONE THOUSAND INHABITANTS; (B) MORE THAN
    9  NINE THOUSAND TEN INHABITANTS BUT LESS THAN NINE THOUSAND TWENTY  INHAB-
   10  ITANTS;  OR  (C)  MORE THAN TEN THOUSAND EIGHT HUNDRED FORTY INHABITANTS
   11  BUT LESS THAN TEN THOUSAND EIGHT HUNDRED FIFTY  INHABITANTS,  DETERMINED
   12  IN  ACCORDANCE WITH THE LATEST FEDERAL DECENNIAL CENSUS, THAT IS REDUCED
   13  TO AT MOST TWO UNITS BY SUCH RECONSTRUCTION SUBSEQUENT TO THE  EFFECTIVE
   14  DATE  OF A LOCAL LAW PURSUANT TO THIS SECTION SHALL BE EXEMPT FROM TAXA-
   15  TION AND SPECIAL AD VALOREM LEVIES TO THE EXTENT  PROVIDED  HEREINAFTER.
   16  AFTER  A  PUBLIC  HEARING,  THE GOVERNING BOARD OF SUCH CITY MAY ADOPT A
   17  LOCAL LAW TO GRANT THE EXEMPTION AUTHORIZED PURSUANT TO THIS SECTION.  A
   18  COPY  OF  SUCH  LOCAL  LAW  SHALL  BE FILED WITH THE STATE BOARD AND THE
   19  ASSESSOR OF SUCH CITY WHO PREPARES THE  ASSESSMENT  ROLL  ON  WHICH  THE
   20  TAXES OF SUCH CITY ARE LEVIED.
   21    2. (A) SUCH BUILDINGS WITHIN SUCH CITY SHALL BE EXEMPT FOR A PERIOD OF
   22  ONE  YEAR  TO  THE  EXTENT OF FIFTY PERCENT OF THE VALUE OF THE PROPERTY
   23  AFTER THE COMPLETION OF SUCH RECONSTRUCTION, ALTERATION  OR  IMPROVEMENT
   24  AND FOR AN ADDITIONAL PERIOD OF NINE YEARS SUBJECT TO THE FOLLOWING:
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD11041-01-9
       A. 7577                             2
    1    (I) THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY FIVE PERCENT OF
    2  THE  VALUE  OF THE PROPERTY AFTER THE COMPLETION OF SUCH RECONSTRUCTION,
    3  ALTERATION OR IMPROVEMENT EACH YEAR DURING SUCH ADDITIONAL PERIOD.
    4    (II)  SUCH EXEMPTION SHALL BE LIMITED TO ONE HUNDRED THOUSAND DOLLARS,
    5  BUT NOT LESS THAN TEN THOUSAND DOLLARS AS MAY BE PROVIDED BY  THE  LOCAL
    6  LAW  OR RESOLUTION, OF THE VALUE OF THE PROPERTY AFTER THE COMPLETION OF
    7  SUCH RECONSTRUCTION, ALTERATION OR IMPROVEMENT.
    8    (B) NO SUCH EXEMPTION SHALL BE GRANTED FOR RECONSTRUCTION, ALTERATIONS
    9  OR IMPROVEMENTS UNLESS:
   10    (I) SUCH  RECONSTRUCTION,  ALTERATION  OR  CONVERTED  IMPROVEMENT  WAS
   11  COMMENCED  SUBSEQUENT  TO  THE  EFFECTIVE  DATE OF THE LOCAL LAW ADOPTED
   12  PURSUANT TO SUBDIVISION ONE OF THIS SECTION BY SUCH CITY; AND
   13    (II) THE VALUE  OF  SUCH  RECONSTRUCTION,  ALTERATION  OR  IMPROVEMENT
   14  EXCEEDS FIVE THOUSAND DOLLARS; AND
   15    (III)  THE GREATER PORTION, AS SO DETERMINED BY SQUARE FOOTAGE, OF THE
   16  BUILDING RECONSTRUCTED, ALTERED OR IMPROVED IS AT LEAST FIVE YEARS OLD.
   17    (C) FOR PURPOSES OF THIS SECTION THE TERMS RECONSTRUCTION,  ALTERATION
   18  AND IMPROVEMENT SHALL NOT INCLUDE ORDINARY MAINTENANCE AND REPAIRS.
   19    3.  SUCH EXEMPTION SHALL BE GRANTED ONLY UPON APPLICATION BY THE OWNER
   20  OF  SUCH  BUILDING ON A FORM PRESCRIBED BY THE STATE BOARD. THE APPLICA-
   21  TION SHALL BE FILED WITH THE ASSESSOR OF SUCH  CITY  ON  OR  BEFORE  THE
   22  APPROPRIATE TAXABLE STATUS DATE OF SUCH CITY.
   23    4.  IF SATISFIED THAT THE APPLICANT IS ENTITLED TO AN EXEMPTION PURSU-
   24  ANT TO THIS SECTION, THE ASSESSOR SHALL APPROVE THE APPLICATION AND SUCH
   25  BUILDING SHALL THEREAFTER BE EXEMPT FROM TAXATION AND SPECIAL AD VALOREM
   26  LEVIES AS PROVIDED IN THIS SECTION COMMENCING WITH THE  ASSESSMENT  ROLL
   27  PREPARED ON THE BASIS OF THE TAXABLE STATUS DATE REFERRED TO IN SUBDIVI-
   28  SION  THREE OF THIS SECTION. THE ASSESSED VALUE OF ANY EXEMPTION GRANTED
   29  PURSUANT TO THIS SECTION SHALL BE ENTERED BY THE ASSESSOR ON THE ASSESS-
   30  MENT ROLL WITH THE TAXABLE PROPERTY, WITH THE AMOUNT  OF  THE  EXEMPTION
   31  SHOWN IN A SEPARATE COLUMN.
   32    5. FOR THE PURPOSES OF THIS SECTION, AN OWNER OCCUPIED MULTIPLE DWELL-
   33  ING  BUILDING SHALL MEAN ANY BUILDING OR STRUCTURE DESIGNED AND OCCUPIED
   34  AS THE TEMPORARY OR PERMANENT RESIDENCE OR HOME OF TWO OR MORE FAMILIES,
   35  INCLUDING THE OWNER OF SUCH BUILDING.
   36    6. IN THE EVENT THAT A BUILDING GRANTED AN EXEMPTION PURSUANT TO  THIS
   37  SECTION  CEASES  TO  BE USED PRIMARILY FOR RESIDENTIAL PURPOSES OR TITLE
   38  THERETO IS TRANSFERRED TO OTHER THAN THE HEIRS OR  DISTRIBUTEES  OF  THE
   39  OWNER, THE EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL CEASE.
   40    7. (A) THE ENACTMENT OF A LOCAL LAW IN SUCH CITY MAY:
   41    (I) REDUCE THE PERCENT OF EXEMPTION OTHERWISE ALLOWED PURSUANT TO THIS
   42  SECTION;
   43    (II)  LIMIT  ELIGIBILITY  FOR  THE  EXEMPTION TO THOSE FORMS OF RECON-
   44  STRUCTION, ALTERATIONS OR IMPROVEMENTS AS ARE PRESCRIBED IN  SUCH  LOCAL
   45  LAW OR RESOLUTION.
   46    (B)  NO  SUCH  LOCAL  LAW  SHALL REDUCE OR REPEAL AN EXEMPTION GRANTED
   47  PURSUANT TO THIS SECTION UNTIL THE EXPIRATION OF THE  PERIOD  FOR  WHICH
   48  SUCH EXEMPTION WAS GRANTED.
   49    S  2. This act shall take effect on the first of January next succeed-
   50  ing the date on which it shall have become a law.