Bill Text: NY S00548 | 2011-2012 | General Assembly | Introduced
Bill Title: Authorizes the reassessment of real property based upon the substantial change in valuation of real property based upon physical, statutory or economic conditions, without affecting the state aid for reassessment; increases state assistance payable from $5 to $15 per parcel.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-01-04 - REFERRED TO LOCAL GOVERNMENT [S00548 Detail]
Download: New_York-2011-S00548-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 548 2011-2012 Regular Sessions I N S E N A T E (PREFILED) January 5, 2011 ___________ Introduced by Sen. LITTLE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the real property tax law, in relation to state assist- ance for local real property tax reassessment THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. Paragraph (a) of subdivision 2 of section 1573 of the real 2 property tax law, as amended by section 1 of part Y of chapter 56 of the 3 laws of 2010, is amended to read as follows: 4 (a) State assistance pursuant to subdivision one of this section shall 5 be payable in an amount not to exceed [five] FIFTEEN dollars per parcel 6 for an assessment roll upon which a revaluation is implemented in 7 accordance with an approved plan, and not to exceed two dollars per 8 parcel for any assessment roll upon which a revaluation is not imple- 9 mented in accordance with an approved plan. The amount payable on a per 10 parcel basis shall exclude parcels which are wholly exempt or assessed 11 by the state board. PROVIDED, THAT NO PROVISION OF THIS SUBDIVISION 12 SHALL PROHIBIT ANY ASSESSOR FROM ADJUSTING, AT ANY TIME, THE ASSESSMENT 13 OF ANY PARCEL THE VALUE OF WHICH HAS BEEN SUBSTANTIALLY AFFECTED BY A 14 CHANGE IN PHYSICAL, STATUTORY OR ECONOMIC CONDITIONS, AND SUCH ADJUSTED 15 ASSESSMENT SHALL BE DEEMED TO HAVE BEEN IN EFFECT AND SHALL BE COMPUTED 16 AS OF THE DATE OF VALUATION BY THE ASSESSING UNIT. 17 S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00152-01-1