Bill Text: NY A10416 | 2015-2016 | General Assembly | Amended
Bill Title: Provides a residential revaluation exemption in a county with a population of not less than 930,000 and not more than 1,200,000; establishes eligibility for such exemption and provides the exemption calculation; makes related provisions.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2016-06-14 - REFERRED TO RULES [A10416 Detail]
Download: New_York-2015-A10416-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 10416--A IN ASSEMBLY May 26, 2016 ___________ Introduced by M. of A. GALEF, ABINANTI -- read once and referred to the Committee on Real Property Taxation -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to amend the real property tax law, in relation to a residential revaluation exemption 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 485-s to read as follows: 3 § 485-s. Residential revaluation exemption. 1. Applicability. The 4 governing body of an assessing unit located within a county with a popu- 5 lation of not less than nine hundred thirty thousand and not more than 6 one million two hundred thousand based upon the latest decennial census, 7 may, after a public hearing, adopt the provisions of this section by 8 local law in the first year of a full value revaluation to provide a 9 residential revaluation exemption. If the governing body of an assessing 10 unit passes a local law pursuant to this subdivision, such exemption 11 shall also apply in the same manner and to the same extent to each 12 village, county, special district or school district that levies taxes 13 on the assessment roll prepared by such assessing unit. A village 14 assessing unit, within an assessing unit that has conducted a revalu- 15 ation and that chooses to adopt that assessing unit's latest final 16 assessment roll is permitted to adopt the provisions of this section 17 within two years of its implementation. 18 2. Eligibility. (a) The assessors in each assessing unit that have 19 adopted the provisions of this section shall, in the first year in which 20 revaluation assessments are to be entered on the assessment roll and for 21 the next succeeding year, apply to each eligible residential property an 22 exemption as provided in subdivision three of this section. For the 23 purpose of this section, to be an "eligible residential property" the 24 following criteria must be met: 25 (i) The property must be a one-, two-, or three-family residential 26 property, provided that in an approved assessing unit dwelling units EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD15595-08-6A. 10416--A 2 1 held in condominium form of ownership that are classified in the home- 2 stead class shall also be eligible; 3 (ii) The property must be eligible to receive the STAR exemption 4 authorized by section four hundred twenty-five of this title or the 5 owner or owners must be eligible to receive the personal income tax 6 school tax relief (STAR) credit authorized by subsection (eee) of 7 section six hundred six of the tax law, as added by section six of part 8 A of chapter sixty of the laws of two thousand sixteen, for such proper- 9 ty. 10 (iii) In any given year, the owner or owners receiving the exemption 11 pursuant to this section must be the same as the owner or owners that 12 appeared on the assessment roll upon which the revaluation is imple- 13 mented; 14 (iv) The property must have a Certificate of Occupancy or a temporary 15 Certificate of Occupancy; and 16 (v) The property must not have any delinquent taxes as of the taxable 17 status date for the roll on which an exemption is applied. 18 (b) In addition to the criteria provided in paragraph (a) of this 19 subdivision, an assessing unit may further limit the eligibility to 20 eligible residential property whose full value increase exceeded a set 21 value threshold as specified in their local law adopting the provisions 22 of this section. If provided by local law, the assessing unit may elect 23 to grant exemptions to only those properties that do not have outstand- 24 ing building code violations. 25 3. Exemption calculation. (a)(i) The exemption shall be computed with 26 respect to a percentage of the "exemption base." The exemption base 27 shall be the amount by which the assessed value of a property on the 28 assessment roll upon which the revaluation is implemented exceeds the 29 prior year's equalized assessed value, as determined in the initial 30 year. The prior year's equalized assessed value shall be determined by 31 applying the applicable change in level of assessment factor to the 32 prior year's assessed value. Such exemption base shall not include 33 increases due to a physical improvement or a removal or reduction of an 34 exemption on property. 35 (ii) Any increase in the assessment of a property due to physical 36 changes in the year following the implementation roll shall not be 37 eligible for the exemption. In the event that any portion of a parcel is 38 fully or partially removed from the roll during the year following the 39 implementation roll by reason of fire, demolition, destruction or new 40 exemption, the assessor shall reduce the exemption for any remaining 41 portion in the same proportion assessment is reduced for such fire, 42 demolition, destruction or new exemption. If a property's revaluation 43 assessment is reduced pursuant to title one-A of article five, or title 44 one or one-A of article seven of this chapter, the exemption shall be 45 recomputed accordingly. 46 (b)(i) The exemption shall be to the extent of sixty-six per centum of 47 the exemption base in year one and thirty-three per centum of the 48 exemption base in year two. 49 (ii) The following table shall illustrate the computation of the 50 exemption: 51 Year of exemption Percentage of Exemption 52 1 66% of exemption base 53 2 33% of exemption base 54 4. Granting of exemption. (a) Such exemption shall be granted only 55 upon application by the owner or owners of such real property on a form 56 prescribed by the commissioner. Such application shall be filed with theA. 10416--A 3 1 assessor on or before the appropriate taxable status date for the 2 assessment roll upon which the revaluation is implemented. 3 (b) If the assessor is satisfied that the applicant is entitled to an 4 exemption pursuant to this section, he or she shall approve the applica- 5 tion and the taxable assessed value shall be reduced by the exemption, 6 as in this section provided commencing with the assessment roll prepared 7 after the taxable status date. The assessed value of any exemption 8 granted pursuant to this section shall be entered by the assessor on the 9 assessment roll with the amount of the exemption shown in a separate 10 column. 11 (c) In the event that the residential property granted an exemption 12 pursuant to this section transfers ownership or otherwise ceases to meet 13 the eligibility requirements of the exemption in subdivision two of this 14 section, the exemption granted pursuant to this section shall be discon- 15 tinued. Upon determining that an exemption granted pursuant to this 16 section should be discontinued, the assessor shall mail a notice so 17 stating to the owner or owners thereof at the time and in the manner 18 provided by section five hundred ten of this chapter. 19 § 2. The following provisions shall apply in an assessing unit that 20 adopts the provisions of section 485-s of the real property tax law for 21 an assessment roll finalized in the year 2016. Notwithstanding paragraph 22 (a) of subdivision 4 of section 485-s of the real property tax law, 23 applications for exemption shall be filed with the assessor on or before 24 a date specified in the local law adopting the provisions of section 25 485-s of the real property tax law on a form prescribed by the assessing 26 unit. Notwithstanding any other section of law to the contrary, to the 27 extent the taxable assessed value of the property originally appearing 28 on such roll exceeds the amount to which it should be reduced pursuant 29 to section 485-s of the real property tax law, the assessor shall amend 30 the assessment roll accordingly. The assessor shall give written notice 31 of such exemption to the property owner. Where the assessor denies an 32 exemption or incorrectly calculates the exemption pursuant to section 33 485-s of the real property tax law for the 2016 assessment roll, the 34 property owner may file a complaint with the board of assessment review. 35 Such board shall reconvene on a date or dates established by the assess- 36 ing unit, provided at least ten days' notice is given in writing; by 37 certified mail, return receipt requested, to the property owner, to hear 38 the appeal and determine the matter, and shall mail written notice of 39 its determination to the assessor and property owner. Notwithstanding 40 sections 283.161 and 283.171 of the Westchester County Administrative 41 Code, for the purpose of implementing the residential revaluation 42 exemption, the assessor or assessors shall file the 2016 assessment roll 43 on or before the first day of December. The rights contained in this act 44 shall not otherwise diminish any other legally available right of any 45 property owner or party who may otherwise lawfully challenge the valu- 46 ation or assessment of any real property or improvements thereon. All 47 remaining rights hereby remain and shall be available to the party to 48 whom such rights would otherwise be available notwithstanding this act. 49 § 3. This act shall take effect immediately and shall apply to assess- 50 ment rolls prepared on and after January 1, 2016.
