Bill Text: NY A09677 | 2015-2016 | General Assembly | Introduced

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Bill Title: Authorizes cities having a population of one million or more to provide a rebate during the 2017-2018 city fiscal year of a portion of the real property taxes on owner occupied 1, 2, 3, 4, 5 or 6 family residential real property, or residential real property held in the condominium or cooperative form of ownership.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-03-29 - referred to real property taxation [A09677 Detail]

Download: New_York-2015-A09677-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          9677
                   IN ASSEMBLY
                                     March 29, 2016
                                       ___________
        Introduced  by  M.  of  A.  BENEDETTO  --  read once and referred to the
          Committee on Real Property Taxation
        AN ACT to amend the real property tax law, in relation to  a  rebate  of
          real  property  taxes  on  certain residential real property 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.  The section heading of section 467-e of the real property
     2  tax law, as added by section 1 of part V of chapter 60 of  the  laws  of
     3  2004, is amended to read as follows:
     4    Rebate  for  owners  or  tenant-stockholders  of one, two [or], three,
     5  four, five or six family residences or residential property held in  the
     6  condominium  or  cooperative  form of ownership in a city having a popu-
     7  lation of one million or more.
     8    § 2. Subdivision 1 of section 467-e of the real property tax  law,  as
     9  amended  by  chapter  483  of  the  laws  of 2007, is amended to read as
    10  follows:
    11    1. Generally. Notwithstanding any provision of any general, special or
    12  local law to the contrary, any city having a population of  one  million
    13  or more is hereby authorized and empowered to adopt and amend local laws
    14  in accordance with this section to grant a rebate of real property taxes
    15  for the fiscal [years] year beginning on the first of July, two thousand
    16  [three]  seventeen  and  ending  on  the thirtieth of June, two thousand
    17  [nine] eighteen in the amount of the lesser of four hundred  dollars  or
    18  the annual tax liability imposed on the property. [No such local law may
    19  be  adopted  unless, as originally adopted, it authorizes such rebate to
    20  be granted in accordance with this section for three consecutive  fiscal
    21  years beginning with the fiscal year beginning on the first of July, two
    22  thousand  three.]  No  such rebate shall be granted by local law for any
    23  fiscal year beginning on or after the first of July, two thousand [nine]
    24  eighteen, unless the council of such city,  in  fixing  the  annual  tax
    25  rates  for any such fiscal year, shall have uniformly reduced such rates
    26  for all classes of property in order to produce real property tax relief
    27  among such classes of property in an amount not less than, in the aggre-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14515-02-6