Bill Text: NY S04283 | 2011-2012 | General Assembly | Introduced

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Bill Title: Relates to classifying property held in cooperative form for assessment purposes as class one.

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Introduced - Dead) 2012-01-04 - REFERRED TO LOCAL GOVERNMENT [S04283 Detail]

Download: New_York-2011-S04283-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4283
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                    March 28, 2011
                                      ___________
       Introduced  by Sen. STAVISKY -- 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  classifying
         properties  held  in cooperative form for assessment purposes as class
         one properties
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph class one of subdivision 1 of section 1802 of the
    2  real property tax law, as amended by chapter 332 of the laws of 2008, is
    3  amended to read as follows:
    4    Class  one: (a) all one, two and three family residential real proper-
    5  ty, including such dwellings used in part  for  nonresidential  purposes
    6  but  which  are  used  primarily  for residential purposes, [except such
    7  property held in cooperative or condominium  forms  of  ownership  other
    8  than (i) property defined in subparagraphs (b) and (c) of this paragraph
    9  and  (ii) property which contains no more than three dwelling units held
   10  in condominium form of ownership and which was  classified  within  this
   11  class on a previous assessment roll; and] provided that, notwithstanding
   12  the  provisions  of  paragraph  (g) of subdivision twelve of section one
   13  hundred two of this chapter, a mobile home or a  trailer  shall  not  be
   14  classified  within this class unless it is owner-occupied and separately
   15  assessed; and (b) residential real property [not more than three stories
   16  in height] held  in  COOPERATIVE  OR  condominium  form  of  ownership[,
   17  provided  that  no dwelling unit therein previously was on an assessment
   18  roll as a dwelling unit in other than condominium  form  of  ownership];
   19  and  (c) residential real property consisting of one family house struc-
   20  tures owned by the occupant, situated on land held in cooperative owner-
   21  ship by owner occupiers, provided that; (i) such  house  structures  and
   22  land  constituted  bungalow  colonies  in  existence  prior  to nineteen
   23  hundred forty; and (ii) the land is held in  cooperative  ownership  for
   24  the  sole  purpose  of maintaining one family residences for members own
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10152-03-1
       S. 4283                             2
    1  use; and (d) all vacant land located within  a  special  assessing  unit
    2  which  is  a  city (i) other than such land in the borough of Manhattan,
    3  provided that any such vacant land which is not zoned  residential  must
    4  be situated immediately adjacent to property improved with a residential
    5  structure  as defined in subparagraphs (a) and (b) of this paragraph, be
    6  owned by the same owner as such immediately adjacent residential proper-
    7  ty immediately prior to and since January 1, 1989, and have a total area
    8  not exceeding 10,000 square feet; and (ii) located  in  the  borough  of
    9  Manhattan  north  of  or  adjacent  to  the  north  side of 110th street
   10  provided such vacant land  was  classified  within  this  class  on  the
   11  assessment  roll  with  a taxable status date of January 5, 2008 and the
   12  owner of such land has entered into a recorded agreement with a  govern-
   13  mental  entity  on or before December 31, 2008 requiring construction of
   14  housing affordable to persons or families of low  income  in  accordance
   15  with  the provisions of the private housing finance law. Notwithstanding
   16  the foregoing, such vacant land shall be classified according to its use
   17  on the assessment roll with a taxable status date immediately  following
   18  commencement of construction, provided further, that construction pursu-
   19  ant  to  an approved plan for affordable housing shall commence no later
   20  than December 31, 2010; and (e) all vacant land located within a special
   21  assessing unit which is not a city, provided that such vacant land which
   22  is not zoned residential must be situated immediately adjacent  to  real
   23  property  defined  in subparagraph (a), (b) or (c) of this paragraph and
   24  be owned by the same person or persons who own the real property defined
   25  in such subparagraph immediately prior to and since January 1, 2003;
   26    S 2. This act shall take effect on the first of January next  succeed-
   27  ing  the  date  on  which  it shall have become a law and shall apply to
   28  assessment rolls prepared on the basis of taxable status dates occurring
   29  on or after such effective date.