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