Bill Text: NY A11154 | 2017-2018 | General Assembly | Introduced
Bill Title: Provides that Nassau county undertakes a reassessment of class one real property for the January 2019 tentative assessment roll; makes related provisions.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2018-06-20 - REFERRED TO RULES [A11154 Detail]
Download: New_York-2017-A11154-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 11154 IN ASSEMBLY June 11, 2018 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Hooper) -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the Nassau County Administrative Code, in relation to a partial exemption granted to certain real property on Nassau County assessment rolls The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Chapter 272 of the laws of 1939, constituting the Nassau 2 county administrative code, is amended by adding a new section 6-2.11 to 3 read as follows: 4 § 6-2.11. Partial exemption for certain class one property with 5 disproportionate assessments. a. The legislature has found that certain 6 real property on assessment rolls of the county of Nassau in class one 7 as defined in section eighteen hundred two of the real property tax law 8 has become disproportionately affected by prior county assessments. A 9 reassessment of class one properties by the county expected to be 10 completed for the January 2019 tentative assessment roll (correlating to 11 the 2020-21 final assessment roll) will begin to correct the disparities 12 and inequities created and perpetuated on prior assessment rolls. Pursu- 13 ant to section two of article sixteen of the New York State constitu- 14 tion, the legislature has hereby determined to mitigate the negative 15 effect on class one taxpayers most impacted by such prior county assess- 16 ments that would otherwise not be addressed under current law. 17 b. If the county of Nassau undertakes a reassessment of class one real 18 property for the January 2019 tentative assessment roll (correlating to 19 the 2020-21 final assessment roll), the county acting through its local 20 legislative body is hereby authorized and empowered to adopt a local law 21 to provide that class one real property other than new construction 22 since January 1, 2011 with a full value not exceeding five hundred thou- 23 sand dollars on assessment rolls of the county shall be exempt from 24 taxation to the extent of ten percent of the assessed valuation of such 25 property if the full value of such property utilized to determine its 26 assessment on the 2020-21 final assessment roll either decreased from, 27 or is not more than twenty percent greater than, the full value of such EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD16271-02-8A. 11154 2 1 property utilized to determine its assessment on the 2019-2020 final 2 assessment roll. 3 § 2. This act shall take effect immediately and apply to assessment 4 rolls beginning with the 2020-2021 real property tax year through and 5 including the 2024-2025 real property tax year.