Bill Text: NY S01487 | 2017-2018 | General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Increases the average assessed value threshold; relates to the eligibility of J-51 tax abatements to reflect cost of living adjustments.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2018-06-20 - COMMITTED TO RULES [S01487 Detail]
Download: New_York-2017-S01487-Introduced.html
Bill Title: Increases the average assessed value threshold; relates to the eligibility of J-51 tax abatements to reflect cost of living adjustments.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2018-06-20 - COMMITTED TO RULES [S01487 Detail]
Download: New_York-2017-S01487-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 1487 2017-2018 Regular Sessions IN SENATE January 9, 2017 ___________ Introduced by Sens. AVELLA, KLEIN -- 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 the eligibil- ity for J-51 tax abatements to reflect cost of living adjustments The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subparagraph (iv) of paragraph (c) of subdivision 17 of 2 section 489 of the real property tax law, as added by chapter 388 of the 3 laws of 2016, is amended to read as follows: 4 (iv) Notwithstanding anything to the contrary contained herein, the 5 assessed value limitation shall not at any time exceed [thirty-five] 6 forty thousand dollars. 7 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07089-01-7