Bill Text: NY S03688 | 2015-2016 | General Assembly | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Provides for the assessment of real property in cities having a population of one million or more, which was damaged by a severe storm on October 29 - 30, 2012.

Spectrum: Slight Partisan Bill (Democrat 5-2)

Status: (Introduced - Dead) 2015-04-27 - SUBSTITUTED BY A5620B [S03688 Detail]

Download: New_York-2015-S03688-Amended.html
                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        3688--A
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                   February 13, 2015
                                      ___________
       Introduced   by   Sens.   LANZA,   GOLDEN,   ADDABBO,   AVELLA,  FELDER,
         HASSELL-THOMPSON, SAVINO -- read twice and ordered printed,  and  when
         printed  to  be  committed  to  the  Committee  on Local Government --
         committee discharged, bill amended, ordered reprinted as  amended  and
         recommitted to said committee
       AN ACT to amend the real property tax law, in relation to the assessment
         of  real  property  damaged  by  the severe storm that occurred on the
         twenty-ninth and thirtieth of October, 2012 in a city having  a  popu-
         lation 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 real property tax  law  is  amended  by  adding  a  new
    2  section 1805-a to read as follows:
    3    S 1805-A. ASSESSMENT OF REAL PROPERTY DAMAGED BY THE SEVERE STORM THAT
    4  OCCURRED  ON  THE  TWENTY-NINTH  AND  THIRTIETH OF OCTOBER, TWO THOUSAND
    5  TWELVE IN A CITY HAVING A POPULATION OF ONE MILLION OR MORE. 1.   GENER-
    6  ALLY. NOTWITHSTANDING ANY PROVISION OF ANY GENERAL, SPECIAL OR LOCAL LAW
    7  TO  THE CONTRARY, ANY CITY HAVING A POPULATION OF ONE MILLION OR MORE IS
    8  HEREBY AUTHORIZED AND EMPOWERED TO ADOPT AND AMEND LOCAL LAWS IN ACCORD-
    9  ANCE WITH THIS SECTION TO PROVIDE THAT THE ASSESSED  VALUE  OF  AFFECTED
   10  REAL PROPERTY, AS DEFINED IN SUBDIVISION THREE OF THIS SECTION, SHALL BE
   11  SUBJECT TO THE LIMITATIONS PROVIDED IN THIS SECTION.
   12    2. DEFINITIONS. AS USED IN THIS SECTION:
   13    (A)  "ACTUAL ASSESSED VALUE" MEANS THE ASSESSED VALUE OF REAL PROPERTY
   14  PRIOR TO THE CALCULATION OF ANY TRANSITIONAL ASSESSED VALUE,  AND  WHICH
   15  IS NOT REDUCED BY ANY EXEMPTION FROM REAL PROPERTY TAXES.
   16    (B)  "AGGREGATE PHYSICAL INCREASE" MEANS THE SUM OF PHYSICAL INCREASES
   17  FOR ASSESSMENT ROLLS COMPLETED FROM TWO THOUSAND  FOURTEEN  THROUGH  TWO
   18  THOUSAND TWENTY.
   19    (C) "ANNUAL TAX" MEANS THE AMOUNT OF REAL PROPERTY TAX THAT IS IMPOSED
   20  ON  A  PROPERTY  FOR  A  FISCAL YEAR, DETERMINED AFTER REDUCTION FOR ANY
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD09139-02-5
       S. 3688--A                          2
    1  AMOUNT FROM WHICH THE PROPERTY IS EXEMPT, OR WHICH IS  ABATED,  PURSUANT
    2  TO APPLICABLE LAW.
    3    (D)  "ANNUAL  TAX  ATTRIBUTABLE TO IMPROVEMENTS" MEANS THE ANNUAL TAX,
    4  MULTIPLIED BY A FRACTION,  THE  NUMERATOR  OF  WHICH  IS  EQUAL  TO  THE
    5  ASSESSED  VALUE  ATTRIBUTABLE  TO  IMPROVEMENTS  ON THE PROPERTY FOR THE
    6  FISCAL YEAR, AND THE DENOMINATOR OF WHICH IS THE TOTAL ASSESSED VALUE OF
    7  THE PROPERTY FOR SUCH FISCAL YEAR.
    8    (E) "ASSESSED VALUE" MEANS THE ASSESSED VALUE OF  REAL  PROPERTY  THAT
    9  WAS  USED  TO  DETERMINE THE ANNUAL TAX, AND WHICH IS NOT REDUCED BY ANY
   10  EXEMPTION FROM REAL PROPERTY TAXES.   FOR REAL  PROPERTY  CLASSIFIED  AS
   11  CLASS  TWO OR CLASS FOUR REAL PROPERTY, AS DEFINED IN SUBDIVISION ONE OF
   12  SECTION EIGHTEEN HUNDRED TWO OF THIS ARTICLE TO WHICH SUBDIVISION  THREE
   13  OF  SECTION EIGHTEEN HUNDRED FIVE OF THIS ARTICLE APPLIES, UNLESS OTHER-
   14  WISE PROVIDED, THE ASSESSED VALUE IS THE LOWER OF  THE  ACTUAL  ASSESSED
   15  VALUE AND TRANSITIONAL ASSESSED VALUE.
   16    (F)  "ASSESSED  VALUE ATTRIBUTABLE TO IMPROVEMENTS" MEANS THAT PORTION
   17  OF THE ASSESSED VALUE THAT WAS USED TO DETERMINE THE ANNUAL TAX  ATTRIB-
   18  UTABLE  TO  IMPROVEMENTS, AND WHICH IS NOT REDUCED BY ANY EXEMPTION FROM
   19  REAL PROPERTY TAXES.
   20    (G) "COMMISSIONER OF FINANCE" MEANS THE COMMISSIONER OF FINANCE  OF  A
   21  CITY HAVING A POPULATION OF ONE MILLION OR MORE, OR HIS OR HER DESIGNEE.
   22    (H)  "DEPARTMENT OF FINANCE" MEANS THE DEPARTMENT OF FINANCE OF A CITY
   23  HAVING A POPULATION OF ONE MILLION OR MORE.
   24    (I) "IMPROVEMENTS" MEANS BUILDINGS AND OTHER ARTICLES AND  STRUCTURES,
   25  SUBSTRUCTURES AND SUPERSTRUCTURES ERECTED UPON, UNDER OR ABOVE THE LAND,
   26  OR  AFFIXED  THERETO,  INCLUDING  BRIDGES  AND WHARVES AND PIERS AND THE
   27  VALUE OF THE RIGHT TO COLLECT WHARFAGE, CRANAGE OR DOCKAGE THEREON.
   28    (J) "PHYSICAL DECREASE" MEANS THE DECREASE IN ASSESSED VALUE FROM  THE
   29  ASSESSED  VALUE  ON  THE  PRECEDING  ASSESSMENT  ROLL  AS  A  RESULT  OF
   30  DESTRUCTION OF PROPERTY CAUSED BY THE SEVERE STORM THAT OCCURRED ON  THE
   31  TWENTY-NINTH  AND  THIRTIETH  OF  OCTOBER,  TWO  THOUSAND  TWELVE,  SUCH
   32  DECREASE TO WHICH SUBDIVISION FIVE OF SECTION EIGHTEEN HUNDRED  FIVE  OF
   33  THIS ARTICLE APPLIES.
   34    (K)  "PHYSICAL INCREASE" MEANS THE INCREASE IN ASSESSED VALUE FROM THE
   35  ASSESSED VALUE ON THE PRECEDING ASSESSMENT ROLL AS A RESULT OF AN  ADDI-
   36  TION TO OR IMPROVEMENT OF EXISTING REAL PROPERTY AS PROVIDED IN SUBDIVI-
   37  SION  FIVE  OF  SECTION  EIGHTEEN  HUNDRED FIVE OF THIS ARTICLE, FOR THE
   38  PURPOSE OF RECONSTRUCTION OR REPAIR IN CONNECTION WITH THE DAMAGE CAUSED
   39  BY THE SEVERE STORM THAT OCCURRED ON THE TWENTY-NINTH AND  THIRTIETH  OF
   40  OCTOBER, TWO THOUSAND TWELVE, SUCH INCREASE TO WHICH SUBDIVISION FIVE OF
   41  SECTION  EIGHTEEN  HUNDRED  FIVE  OF THIS ARTICLE APPLIES SUBJECT TO THE
   42  PROVISIONS OF THIS SECTION.
   43    (L) "TOTAL SQUARE FOOTAGE OF THE IMPROVEMENTS ON THE PROPERTY"  MEANS,
   44  WITH  RESPECT  TO  AN  ASSESSMENT  ROLL,  THE SQUARE FOOTAGE USED BY THE
   45  DEPARTMENT OF FINANCE IN DETERMINING THE ASSESSED VALUE ATTRIBUTABLE  TO
   46  IMPROVEMENTS ON THE REAL PROPERTY FOR SUCH ASSESSMENT ROLL.
   47    (M)  "TRANSITIONAL ASSESSED VALUE" IS THE TRANSITION ASSESSMENT CALCU-
   48  LATED PURSUANT TO SUBDIVISION THREE OF SECTION EIGHTEEN HUNDRED FIVE  OF
   49  THIS  ARTICLE, AND WHICH IS NOT REDUCED BY ANY EXEMPTION FROM REAL PROP-
   50  ERTY TAXES.
   51    3. AFFECTED REAL PROPERTY.  FOR PURPOSES OF  THIS  SECTION,  "AFFECTED
   52  REAL PROPERTY" MEANS ANY TAX LOT THAT CONTAINED, ON THE APPLICABLE TAXA-
   53  BLE  STATUS  DATE,  CLASS  ONE, CLASS TWO OR CLASS FOUR REAL PROPERTY AS
   54  SUCH CLASS OF REAL PROPERTY IS DEFINED IN  SUBDIVISION  ONE  OF  SECTION
   55  EIGHTEEN HUNDRED TWO OF THIS ARTICLE, AS TO WHICH:
       S. 3688--A                          3
    1    (A)  THE DEPARTMENT OF FINANCE REDUCED THE ASSESSED VALUE ATTRIBUTABLE
    2  TO IMPROVEMENTS ON THE PROPERTY FOR THE ASSESSMENT ROLL COMPLETED IN TWO
    3  THOUSAND THIRTEEN FROM THE ASSESSED VALUE ATTRIBUTABLE  TO  IMPROVEMENTS
    4  ON THE PROPERTY FOR THE ASSESSMENT ROLL COMPLETED IN TWO THOUSAND TWELVE
    5  AS  A  RESULT  OF DAMAGE CAUSED BY THE SEVERE STORM THAT OCCURRED ON THE
    6  TWENTY-NINTH AND THIRTIETH OF OCTOBER, TWO THOUSAND TWELVE; AND
    7    (B) THE DEPARTMENT OF FINANCE INCREASED THE ASSESSED  VALUE  ATTRIBUT-
    8  ABLE TO IMPROVEMENTS ON THE PROPERTY BY MEANS OF A PHYSICAL INCREASE FOR
    9  AN  ASSESSMENT  ROLL  COMPLETED  FROM  TWO THOUSAND FOURTEEN THROUGH TWO
   10  THOUSAND TWENTY.
   11    4. LIMITATION ON INCREASES OF ASSESSED VALUE. NOTWITHSTANDING SUBDIVI-
   12  SION FIVE OF SECTION EIGHTEEN HUNDRED FIVE OF THIS ARTICLE AND ANY OTHER
   13  PROVISION TO THE CONTRARY, INCREASES IN THE ASSESSED VALUE  OF  AFFECTED
   14  REAL  PROPERTY SHALL BE LIMITED IN THE MANNER SPECIFIED IN THIS SUBDIVI-
   15  SION.
   16    (A) EXCEPT AS PROVIDED IN  PARAGRAPH  (C)  OF  THIS  SUBDIVISION,  FOR
   17  AFFECTED  REAL  PROPERTY FOR WHICH THE ASSESSED VALUES ON THE ASSESSMENT
   18  ROLLS COMPLETED IN TWO THOUSAND FOURTEEN AND TWO THOUSAND FIFTEEN DO NOT
   19  REFLECT A PHYSICAL  INCREASE,  THE  AMOUNT  OF  THE  AGGREGATE  PHYSICAL
   20  INCREASE  SHALL NOT EXCEED THE AMOUNT OF THE PHYSICAL DECREASE REFLECTED
   21  IN THE ASSESSED VALUE ON THE ASSESSMENT ROLL COMPLETED IN  TWO  THOUSAND
   22  THIRTEEN.  ANY  INCREASE  IN  ASSESSED  VALUE FROM THE PRECEDING YEAR IN
   23  EXCESS OF THE PHYSICAL INCREASE REFLECTED IN THE CURRENT ASSESSED VALUE,
   24  SUCH PHYSICAL INCREASE LIMITED AS PROVIDED IN  THE  PRECEDING  SENTENCE,
   25  SHALL  BE  SUBJECT  TO THE LIMITATIONS ON INCREASES PROVIDED IN SUBDIVI-
   26  SIONS ONE AND TWO OF SECTION EIGHTEEN HUNDRED FIVE OF THIS  ARTICLE.  IN
   27  NO  EVENT SHALL THE ASSESSED VALUE OF THE AFFECTED REAL PROPERTY APPEAR-
   28  ING ON AN ASSESSMENT ROLL COMPLETED FOR ANY GIVEN YEAR FROM TWO THOUSAND
   29  FIFTEEN TO TWO THOUSAND TWENTY EXCEED WHAT THE ASSESSED VALUE WOULD HAVE
   30  BEEN THAT YEAR BUT FOR ANY  PHYSICAL  DECREASES  OR  PHYSICAL  INCREASES
   31  REFLECTED  IN THE ASSESSED VALUES ON THE ASSESSMENT ROLLS COMPLETED FROM
   32  TWO THOUSAND THIRTEEN TO TWO THOUSAND TWENTY.
   33    (B) FOR AFFECTED REAL PROPERTY FOR WHICH THE  ASSESSED  VALUE  ON  THE
   34  ASSESSMENT  ROLL  COMPLETED  IN  TWO  THOUSAND  FOURTEEN OR TWO THOUSAND
   35  FIFTEEN REFLECTS A PHYSICAL INCREASE, THE ASSESSED VALUE AS IT  APPEARED
   36  ON THE ASSESSMENT ROLL COMPLETED IN TWO THOUSAND FIFTEEN SHALL BE RECAL-
   37  CULATED  AS  IF  THE LIMITATION IN PARAGRAPH (A) OF THIS SUBDIVISION HAD
   38  BEEN IN EFFECT FOR THE ASSESSMENT ROLLS COMPLETED IN TWO THOUSAND  FOUR-
   39  TEEN  AND  TWO THOUSAND FIFTEEN. THE RECALCULATION OF THE ASSESSED VALUE
   40  THAT APPEARED ON THE ASSESSMENT ROLL COMPLETED IN TWO  THOUSAND  FIFTEEN
   41  SHALL  NOT  AFFECT THE AMOUNT OF TAXES THAT WERE DUE AND PAYABLE FOR THE
   42  FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO THOUSAND  FOURTEEN.  THE
   43  ASSESSED  VALUE  ON THE ASSESSMENT ROLLS COMPLETED FOR EACH OF THE YEARS
   44  FROM TWO THOUSAND SIXTEEN TO TWO THOUSAND TWENTY SHALL BE SUBJECT TO THE
   45  LIMITATION ON INCREASES PROVIDED IN PARAGRAPH (A) OF  THIS  SUBDIVISION.
   46  NOTWITHSTANDING  SECTION  FIFTEEN  HUNDRED  TWELVE OF THE CHARTER OF THE
   47  CITY OF NEW YORK AND ANY OTHER PROVISION TO THE  CONTRARY,  THE  COMMIS-
   48  SIONER OF FINANCE IS AUTHORIZED TO CORRECT AS PROVIDED IN THIS PARAGRAPH
   49  THE ASSESSED VALUE OF AFFECTED REAL PROPERTY APPEARING ON THE ASSESSMENT
   50  ROLL COMPLETED IN TWO THOUSAND FIFTEEN. SUCH CORRECTION SHALL BE MADE NO
   51  LATER  THAN  NINETY DAYS AFTER THE EFFECTIVE DATE OF A LOCAL LAW ADOPTED
   52  IN ACCORDANCE WITH THIS SECTION.
   53    (C) NOTWITHSTANDING PARAGRAPHS (A) AND (B) OF THIS SUBDIVISION, IN THE
   54  EVENT THAT THE TOTAL SQUARE FOOTAGE OF THE IMPROVEMENTS ON THE  AFFECTED
   55  REAL  PROPERTY APPEARING ON ANY ASSESSMENT ROLL COMPLETED FROM TWO THOU-
   56  SAND FOURTEEN TO TWO THOUSAND TWENTY EXCEEDS THE TOTAL SQUARE FOOTAGE OF
       S. 3688--A                          4
    1  THE IMPROVEMENTS ON  THE  PROPERTY  APPEARING  ON  THE  ASSESSMENT  ROLL
    2  COMPLETED  IN  TWO THOUSAND TWELVE, THE AMOUNT OF THE AGGREGATE PHYSICAL
    3  INCREASE SHALL NOT EXCEED THE AMOUNT COMPUTED BY MULTIPLYING THE SUM  OF
    4  THE  PHYSICAL  INCREASES  AS CALCULATED SUBJECT TO THIS SUBDIVISION BY A
    5  FRACTION, THE NUMERATOR OF WHICH IS EQUAL TO THE  AMOUNT  OF  THE  TOTAL
    6  SQUARE  FOOTAGE  OF  THE  IMPROVEMENTS  ON  THE PROPERTY FOR THE CURRENT
    7  ASSESSMENT ROLL, AND THE DENOMINATOR OF WHICH IS EQUAL TO THE AMOUNT  OF
    8  THE  TOTAL  SQUARE  FOOTAGE  OF THE IMPROVEMENTS ON THE PROPERTY FOR THE
    9  ASSESSMENT ROLL COMPLETED IN TWO THOUSAND TWELVE. FOR PURPOSES  OF  THIS
   10  PARAGRAPH,  IF IMPROVEMENTS ON THE PROPERTY LOCATED BELOW GRADE WERE NOT
   11  INCLUDED IN THE TOTAL SQUARE FOOTAGE OF THE IMPROVEMENTS ON THE PROPERTY
   12  FOR THE ASSESSMENT ROLL COMPLETED IN TWO THOUSAND TWELVE, SUCH  IMPROVE-
   13  MENTS  SHALL  NOT BE INCLUDED IN THE TOTAL SQUARE FOOTAGE FOR SUBSEQUENT
   14  ASSESSMENT ROLLS IF THE IMPROVEMENTS WERE MOVED  ABOVE  GRADE  OR  OTHER
   15  BUILDING ELEVATIONS WERE CONSTRUCTED ON THE PROPERTY TO PREVENT OR MITI-
   16  GATE FLOODING AS PART OF RECONSTRUCTION OR REPAIR IN CONNECTION WITH THE
   17  DAMAGE  CAUSED BY THE SEVERE STORM THAT OCCURRED ON THE TWENTY-NINTH AND
   18  THIRTIETH OF OCTOBER, TWO THOUSAND TWELVE.
   19    5. RULEMAKING. THE COMMISSIONER OF  FINANCE  SHALL  BE  AUTHORIZED  TO
   20  PROMULGATE RULES NECESSARY TO EFFECTUATE THE PURPOSES OF THIS SECTION.
   21    S 2. This act shall take effect immediately.
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