NY State Senate Bill 2009-S3355

Senate Bill S3355

2009-2010 Legislative Session

Relates to real property tax exemptions for certain private homes from local taxation in N.Y. city

download bill text pdf

Archive: Last Bill Status - In Senate Committee Cities Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2010	referred to cities
Jun 22, 2009	print number 3355a
Jun 22, 2009	amend and recommit to cities
Mar 17, 2009	referred to cities

Bill Amendments

Original

A (Active)

co-Sponsors

2009-S3355 - Details

Current Committee:: Senate Cities
Law Section:: Real Property Tax Law
Laws Affected:: Add §421-l, RPT L

2009-S3355 - Summary

Relates to real property tax exemptions for certain private homes from local taxation in cities with a population of one million or more.

2009-S3355 - Sponsor Memo

                                 BILL NUMBER:  S3355

 TITLE OF BILL :
An act to amend the real property tax law, in relation to exemption of
certain private homes from local taxation in cities with a population
of one million or more

 SUMMARY OF SPECIFIC PROVISIONS :
This proposed bill would add a new section 421-L to the Real Property
Tax Law that would exempt newly constructed private homes containing
not more than three dwelling units in cities with a population of one
million or more from all local and municipal taxes, other than
assessments for local improvements, during the tax year or years next
following the first taxable status date after the later to occur of
the completion of construction or the sale to the first purchaser of
such new home (or a unit therein if such home is in a condominium form
of ownership). For private homes containing less than three dwelling
units, there would be two years of one hundred percent exemption
followed by a six year phase-out. For private homes containing three
dwelling units, there would be eleven years of one hundred percent
exemption followed by a four year phase-out. Such projects would
continue to pay taxes on the value of the land appearing on the
assessment roll in the first year after completion of construction.
The initial purchaser cannot have purchased the home containing one
dwelling unit for more than $671,000, a home containing two dwelling
units for more than $755,540, or a home containing three dwelling

units for more than $914,750.  Any home which whose sale price exceeds
the limits but less than $950,000 will receive an exemption for the
value up to the maximum purchase price. If the sale price exceeds
$950,000, will not be eligible for any benefits. In the case of a home
in a condominium form of ownership. The exemption in a 3 unit condo
would be $400,000 per unit, these maximum sales prices would apply to
the aggregate sales prices to all initial purchasers. The newly
constructed home must be owner occupied, designed and operated
exclusively for residential purposes, and used in accordance with its
certificate of occupancy. If a home is fully demolished and removed to
make way for a newly constructed home, such newly constructed home
would not be eligible for these tax exemption benefits if less than
three years have elapsed between the date of issuance of the permit
authorizing such demolition and removal and the date that the new home
commences construction.

 JUSTIFICATION :
Real Property Tax Law Section 421-b formerly provided a similar
eight-year tax exemption for certain one and two-unit multiple
dwellings, but that exemption is only available to projects that
commenced construction before July 1, 2006 and complete construction
no later than July 1, 2008. Similarly, Real Property Tax Law Section
421-a formerly provided a similar fifteen-year tax exemption for
three-unit multiple dwellings, but Local Law 58 of 2006 of the City of
New York, which takes effect on December 28, 2007, will limit such
benefits for such multiple dwellings to those projects that receive
substantial governmental assistance pursuant to an affordable housing
program. This amendment would enable certain one and two-unit newly
constructed private homes that are owner-occupied to continue to
receive an eight-year tax exemption (two full; six year phase-out) and
certain three-unit newly constructed private homes that are
owner-occupied to continue to receive a fifteen-year tax exemption
(eleven full; four year phase-out) even without governmental
assistance. Such private homes must meet the purchase price
restrictions and will only be able to avail themselves of the
exemption for first time purchasers. In order to ensure that the tax
benefit accrues to the homeowner, the benefit period would not begin
until the later to occur of the completion of construction or the sale
to the initial purchaser. The tax exemption also may be revoked for
illegal occupancy and nonresidential use of such private homes.
 PRIOR LEGISLATIVE HISTORY :
A9196-B of the 2007-08 Session

 FISCAL IMPLICATIONS :
None to the State.

 EFFECTIVE DATE :
This act shall take effect immediately.

2009-S3355 - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3355

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 17, 2009
                               ___________

Introduced  by  Sen.  SAVINO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Cities

AN ACT to amend the real property tax law, in relation to  exemption  of
  certain  private homes from local taxation in cities with a population
  of one million or more

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  real  property  tax  law  is amended by adding a new
section 421-l to read as follows:
  S 421-L. EXEMPTION OF CERTAIN PRIVATE HOMES FROM LOCAL TAXATION.    1.
FOR PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOW-
ING MEANINGS:
  (A)  "COMMENCE  CONSTRUCTION" SHALL MEAN THAT THE AGENCY OR DEPARTMENT
OF THE CITY HAVING JURISDICTION HAS ISSUED A PERMIT FOR CONSTRUCTION  OF
A  PRIVATE HOME AND SUCH WORK HAS BEGUN IN GOOD FAITH IN ACCORDANCE WITH
SUCH PERMIT.
  (B) "COMPLETE CONSTRUCTION" SHALL MEAN THAT THE AGENCY OR THE  DEPART-
MENT OF THE CITY HAVING JURISDICTION HAS ISSUED A TEMPORARY OR PERMANENT
CERTIFICATE OF OCCUPANCY FOR ALL RESIDENTIAL AREAS OF THE PRIVATE HOME.
  (C)  "ELIGIBLE  PROJECT"  SHALL MEAN A NEWLY CONSTRUCTED PRIVATE HOME,
INCLUDING BOTH LAND AND IMPROVEMENTS, TO BE OCCUPIED AS A RESIDENCE  FOR
THE FIRST TIME, WHICH COMMENCES CONSTRUCTION ON OR AFTER JULY FIRST, TWO
THOUSAND  EIGHT  AND  ON  OR  BEFORE DECEMBER THIRTY-FIRST, TWO THOUSAND
THIRTEEN AND COMPLETES CONSTRUCTION NO LATER THAN DECEMBER THIRTY-FIRST,
TWO THOUSAND FIFTEEN, AND WHICH IS DESIGNED AND OCCUPIED EXCLUSIVELY FOR
RESIDENTIAL PURPOSES.
  (D) "EXEMPTION COMMENCEMENT DATE" SHALL MEAN THE FIRST TAXABLE  STATUS
DATE  AFTER THE LATER TO OCCUR OF THE COMPLETION OF SUCH CONSTRUCTION OR
THE SALE TO THE INITIAL PURCHASER OR, IN THE CASE OF A PRIVATE HOME IN A
CONDOMINIUM FORM OF OWNERSHIP, THE FIRST TAXABLE STATUS DATE  AFTER  THE
LATER TO OCCUR OF THE COMPLETION OF SUCH CONSTRUCTION OR THE SALE TO THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07517-02-9

S. 3355                             2

FIRST  INITIAL  PURCHASER OF A CONDOMINIUM DWELLING UNIT IN SUCH PRIVATE
HOME.
  (E)  "INITIAL  PURCHASER"  SHALL  MEAN  THE FIRST PURCHASER OF A NEWLY
CONSTRUCTED PRIVATE HOME OR, IN THE CASE OF A PRIVATE HOME IN  A  CONDO-
MINIUM  FORM  OF OWNERSHIP, THE FIRST PURCHASER OF EACH DWELLING UNIT IN
SUCH NEWLY CONSTRUCTED PRIVATE HOME.
  (F) "LOCAL HOUSING AGENCY" SHALL MEAN AN "AGENCY" AS DEFINED  PURSUANT
TO SECTION SIX HUNDRED NINETY-TWO OF THE GENERAL MUNICIPAL LAW.
  (G)  "PURCHASE  PRICE" SHALL MEAN THE ACTUAL PURCHASE PRICE TO BE PAID
FOR THE PRIVATE HOME BY THE INITIAL PURCHASER.
  (H) "MAXIMUM PURCHASE PRICE" SHALL MEAN  THE  PURCHASE  PRICE  OF  THE
PRIVATE  HOME  WHICH,  IF  EXCEEDED,  WILL  MAKE ANY EXEMPTION HEREUNDER
UNAVAILABLE.
  (I) "MAXIMUM EXEMPTION AMOUNT" SHALL MEAN THE PORTION OF THE  PURCHASE
PRICE TO BE EXEMPTED FROM TAXATION OF: (I) SIX HUNDRED SEVENTY-ONE THOU-
SAND DOLLARS IN THE CASE OF A PRIVATE HOME CONTAINING ONE DWELLING UNIT,
(II) SEVEN HUNDRED FIFTY-FIVE THOUSAND FIVE HUNDRED FORTY DOLLARS IN THE
CASE  OF  A  PRIVATE  HOME  CONTAINING  TWO  DWELLINGS UNITS, (III) NINE
HUNDRED FOURTEEN THOUSAND SEVEN HUNDRED FIFTY DOLLARS IN THE CASE  OF  A
PRIVATE  HOME  CONTAINING  THREE  DWELLING  UNITS, AND (IV) FOUR HUNDRED
THOUSAND DOLLARS FOR EACH INDIVIDUAL CONDOMINIUM UNIT  IN  THE  CASE  OF
CONDOMINIUM  FORM  OF  OWNERSHIP IN A PRIVATE HOME. THE MAXIMUM PURCHASE
PRICES PROVIDED IN SUBPARAGRAPHS (I), (II), (III) AND (IV) OF THIS PARA-
GRAPH SHALL BE THE LIMIT FOR THE APPLICATION OF ANY EXEMPTION FROM TAXA-
TION UNDER THIS SECTION. NO EXEMPTION SHALL BE AVAILABLE WHERE THE MAXI-
MUM PURCHASE PRICE EXEMPTION IS IN EXCESS OF NINE HUNDRED FIFTY THOUSAND
DOLLARS FOR A ONE, TWO, OR THREE FAMILY PRIVATE  HOME  OR  FOUR  HUNDRED
THOUSAND DOLLARS FOR AN INDIVIDUAL CONDOMINIUM UNIT.
  (J)  "MULTIPLE  DWELLING"  SHALL  MEAN  A MULTIPLE DWELLING WITHIN THE
MEANING OF SECTION FOUR OF THE MULTIPLE DWELLING LAW.
  (K) "PRIVATE HOME" SHALL MEAN AN OWNER OCCUPIED  PRIVATE  OR  MULTIPLE
DWELLING  CONTAINING NOT MORE THAN THREE DWELLING UNITS, AS INDICATED ON
THE CERTIFICATE OF OCCUPANCY FOR SUCH STRUCTURE.
  2. (A) WITHIN A CITY HAVING A POPULATION OF ONE MILLION  OR  MORE,  AN
ELIGIBLE  PROJECT  SHALL  BE  EXEMPT FROM ALL LOCAL AND MUNICIPAL TAXES,
OTHER THAN ASSESSMENTS FOR LOCAL IMPROVEMENTS, DURING THE  TAX  YEAR  OR
YEARS  NEXT  FOLLOWING  THE  EXEMPTION COMMENCEMENT DATE AS FOLLOWS: (I)
WITH RESPECT TO PRIVATE HOMES CONTAINING LESS THAN THREE DWELLING UNITS,
TWO YEARS OF EXEMPTION FROM ALL SUCH TAXES;  FOLLOWED  BY  ONE  YEAR  OF
EXEMPTION  FROM SEVENTY-FIVE PERCENT OF SUCH TAXES; FOLLOWED BY ONE YEAR
OF EXEMPTION FROM SIXTY-TWO AND ONE-HALF PERCENT OF SUCH TAXES; FOLLOWED
BY ONE YEAR OF EXEMPTION FROM FIFTY PERCENT OF SUCH TAXES;  FOLLOWED  BY
ONE  YEAR  OF  EXEMPTION  FROM THIRTY-SEVEN AND ONE-HALF PERCENT OF SUCH
TAXES; FOLLOWED BY ONE YEAR OF EXEMPTION  FROM  TWENTY-FIVE  PERCENT  OF
SUCH  TAXES;  AND  FOLLOWED  BY  ONE  YEAR  OF EXEMPTION FROM TWELVE AND
ONE-HALF PERCENT OF SUCH TAXES, AND (II) WITH RESPECT TO  PRIVATE  HOMES
CONTAINING  THREE  DWELLING  UNITS  OR  CONDOMINIUMS,  ELEVEN  YEARS  OF
EXEMPTION FROM ALL SUCH TAXES; FOLLOWED BY ONE YEAR  OF  EXEMPTION  FROM
EIGHTY  PERCENT  OF  SUCH  TAXES; FOLLOWED BY ONE YEAR OF EXEMPTION FROM
SIXTY PERCENT OF SUCH TAXES; FOLLOWED BY  ONE  YEAR  OF  EXEMPTION  FROM
FORTY  PERCENT OF SUCH TAXES; AND FOLLOWED BY ONE YEAR OF EXEMPTION FROM
TWENTY PERCENT OF SUCH TAXES.
  (B) NOTWITHSTANDING THE PROVISIONS OF PARAGRAPH (A) OF  THIS  SUBDIVI-
SION,  EXEMPTION FROM LOCAL AND MUNICIPAL TAXES UNDER THIS SECTION SHALL
NOT BE AVAILABLE TO THE TAX LOT (LAND AND  IMPROVEMENTS)  UPON  WHICH  A
PRIVATE  HOME  IS  CONSTRUCTED  IF ANY PORTION OF SUCH TAX LOT (LAND AND

S. 3355                             3

IMPROVEMENTS): (I) IS EXEMPT FROM LOCAL AND MUNICIPAL  TAXES  UNDER  ANY
OTHER  LAW;  (II)  CONTAINS  A  PRIVATE  HOME  THAT  EXCEEDS THE MAXIMUM
PURCHASE PRICE OR AN INDIVIDUAL CONDOMINIUM UNIT THAT EXCEEDS A PURCHASE
PRICE  OF FOUR HUNDRED THOUSAND DOLLARS; OR (III) PREVIOUSLY CONTAINED A
PRIVATE OR MULTIPLE DWELLING THAT HAS BEEN FULLY DEMOLISHED AND  REMOVED
AND  LESS  THAN THREE YEARS HAVE ELAPSED BETWEEN THE DATE OF ISSUANCE OF
THE PERMIT AUTHORIZING SUCH DEMOLITION AND REMOVAL AND THE DATE THAT THE
NEW PRIVATE HOME COMMENCES CONSTRUCTION.
  (C) NOTWITHSTANDING THE PROVISIONS OF PARAGRAPH (A) OF  THIS  SUBDIVI-
SION, THE TAX LOT (LAND AND IMPROVEMENTS) UPON WHICH THE PRIVATE HOME IS
CONSTRUCTED  SHALL  AT ALL TIMES BE SUBJECT TO LOCAL AND MUNICIPAL TAXES
IN AN AMOUNT NOT LESS THAN THE AMOUNT OF LOCAL AND MUNICIPAL TAXES  THAT
WOULD  BE  PAYABLE THEREON BASED UPON THE ASSESSED VALUATION OF THE LAND
APPEARING ON THE ASSESSMENT ROLL IN THE FIRST YEAR AFTER  COMPLETION  OF
CONSTRUCTION.
  3. (A) BASED ON THE CERTIFICATION OF THE LOCAL HOUSING AGENCY PURSUANT
TO  THIS  SECTION  CERTIFYING ELIGIBILITY FOR EXEMPTION PURSUANT TO THIS
SECTION, THE DEPARTMENT OF FINANCE OF THE CITY OF NEW YORK SHALL  IMPLE-
MENT THE AMOUNT OF EXEMPTION FROM LOCAL AND MUNICIPAL TAXES.
  (B)  THE  LOCAL HOUSING AGENCY MAY PROMULGATE RULES AND REGULATIONS TO
CARRY OUT THE PROVISIONS OF THIS SECTION AND MAY REQUIRE  PAYMENT  OF  A
NON-REFUNDABLE  FILING  FEE  IN  THE  AMOUNT  OF TWO HUNDRED DOLLARS PER
DWELLING UNIT FOR EACH APPLICATION FOR TAX EXEMPTION  PURSUANT  TO  THIS
SECTION.
  (C)  UPON  A  FINDING BY THE LOCAL HOUSING AGENCY OR BY ANOTHER AGENCY
DESIGNATED BY SUCH LOCAL HOUSING AGENCY THAT A PRIVATE HOME IS NOT BEING
USED FOR RESIDENTIAL PURPOSES, IS THE SUBJECT  OF  A  VIOLATION  FOR  AN
ILLEGAL  OCCUPANCY,  OR  IS  NOT OWNER OCCUPIED, EXEMPTION FROM TAXATION
UNDER THIS SECTION SHALL BE REVOKED AND SHALL  TERMINATE  PROSPECTIVELY;
PROVIDED,  HOWEVER,  THAT IN THE CASE OF AN ILLEGAL OCCUPANCY, THE OWNER
SHALL REPAY ALL TAXES, WITH INTEREST, FROM WHICH SUCH PRIVATE  HOME  WAS
EXEMPTED AND SUCH AMOUNT, IF UNPAID, SHALL BECOME A TAX LIEN AGAINST THE
PROPERTY.
  S 2. This act shall take effect immediately.

co-Sponsors

2009-S3355A (ACTIVE) - Details

Current Committee:: Senate Cities
Law Section:: Real Property Tax Law
Laws Affected:: Add §421-l, RPT L

2009-S3355A (ACTIVE) - Summary

Relates to real property tax exemptions for certain private homes from local taxation in cities with a population of one million or more.

2009-S3355A (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S3355A

 TITLE OF BILL :
An act to amend the real property tax law, in relation to exemption of
certain private homes from local taxation in cities with a population
of one million or more


 SUMMARY OF SPECIFIC PROVISIONS :
This proposed bill would add a new section 421-L to the Real Property
Tax Law that would exempt newly constructed private homes containing
not more than three dwelling units in cities with a population of one
million or more from all local and municipal taxes, other than
assessments for local improvements, during the tax year or years next
following the first taxable status date after the later to occur of
the completion of construction or the sale to the initial purchaser of
such new home (or a unit therein if such home is in a condominium form
of ownership). For private homes containing less than four dwelling
units, there would be two years of one hundred percent exemption
followed by a six year phase-out. Such projects would continue to pay
taxes on the value of the land appearing on the assessment roll in the
first year after completion of construction. The maximum exemption
amount, which is based on purchase price, for a home containing one
dwelling unit is $671,000, a home containing two dwelling units is
$755,540, or a home containing three dwelling units is $914,750. Any
home which whose sale price exceeds the limits but less than $950,000

will receive an exemption for the value up to the maximum exemption.
If the sale price exceeds $950,000, the home will not be eligible for
any benefits. In the case of a home containing less than four units in
a condominium form of ownership, the exemption would be $400,000 for
an individual condominium unit. The newly constructed home must be
owner occupied, designed and operated exclusively for residential
purposes, and used in accordance with its certificate of occupancy. If
a home is fully demolished and removed to make way for a newly
constructed home, such newly constructed home would not be eligible
for these tax exemption benefits if less than three years have elapsed
between the date of issuance of the permit authorizing such demolition
and removal and the date that the new home commences construction.

 JUSTIFICATION :
Real Property Tax Law Section 421-b formerly provided a similar
eight-year tax exemption for certain one and two-unit multiple
dwellings, but that exemption is only available to projects that
commenced construction before July 1, 2006 and complete construction
no later than July 1, 2009. Similarly, Real Property Tax Law Section
421-a formerly provided a similar fifteen-year tax exemption for
three-unit multiple dwellings, but Local Law 58 of 2006 of the City of
New York, which takes effect on December 28, 2007, will limit such
benefits for such multiple dwellings to those projects that receive
substantial governmental assistance pursuant to an affordable housing
program. This amendment would enable certain one, two, and three-unit
newly constructed private homes that are owner-occupied to continue to
receive an eight-year tax exemption (two full; six year phase-out).
Such private homes must meet the purchase price restrictions and will
only be able to avail themselves of the exemption for initial
purchasers. In order to ensure that the tax benefit accrues to the
homeowner, the benefit period would not begin until the later to occur
of the completion of construction or the sale to the initial
purchaser. The tax exemption also may be revoked for illegal occupancy
and nonresidential use of such private homes. This tax exemption
program for owner-occupied one to three family dwelling units will
provide an essential economic stimulus to the housing market in New
York City.

 PRIOR LEGISLATIVE HISTORY :
A9196-B of the 2007-08 Session
 FISCAL IMPLICATIONS :
None to the State.

 EFFECTIVE DATE :
This act shall take effect immediately.

2009-S3355A (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3355--A

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 17, 2009
                               ___________

Introduced  by  Sens.  SAVINO, DIAZ, ONORATO, THOMPSON -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Cities  --  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  exemption  of
  certain  private homes from local taxation in cities with a population
  of one million or more

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  real  property  tax  law  is amended by adding a new
section 421-l to read as follows:
  S 421-L. EXEMPTION OF CERTAIN PRIVATE HOMES FROM LOCAL TAXATION.    1.
FOR PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOW-
ING MEANINGS:
  (A)  "COMMENCE  CONSTRUCTION" SHALL MEAN THAT THE AGENCY OR DEPARTMENT
OF THE CITY HAVING JURISDICTION HAS ISSUED A PERMIT FOR CONSTRUCTION  OF
A  PRIVATE HOME AND SUCH WORK HAS BEGUN IN GOOD FAITH IN ACCORDANCE WITH
SUCH PERMIT.
  (B) "COMPLETE CONSTRUCTION" SHALL MEAN THAT THE AGENCY OR THE  DEPART-
MENT OF THE CITY HAVING JURISDICTION HAS ISSUED A TEMPORARY OR PERMANENT
CERTIFICATE OF OCCUPANCY FOR ALL RESIDENTIAL AREAS OF THE PRIVATE HOME.
  (C)  "ELIGIBLE  PROJECT"  SHALL MEAN A NEWLY CONSTRUCTED PRIVATE HOME,
INCLUDING BOTH LAND AND IMPROVEMENTS, TO BE OCCUPIED AS A RESIDENCE  FOR
THE FIRST TIME, WHICH COMMENCES CONSTRUCTION ON OR AFTER JULY FIRST, TWO
THOUSAND NINE AND ON OR BEFORE DECEMBER THIRTY-FIRST, TWO THOUSAND THIR-
TEEN AND COMPLETES CONSTRUCTION NO LATER THAN DECEMBER THIRTY-FIRST, TWO
THOUSAND  FIFTEEN,  AND  WHICH  IS DESIGNED AND OCCUPIED EXCLUSIVELY FOR
RESIDENTIAL PURPOSES.
  (D) "EXEMPTION COMMENCEMENT DATE" SHALL MEAN THE FIRST TAXABLE  STATUS
DATE  AFTER THE LATER TO OCCUR OF THE COMPLETION OF SUCH CONSTRUCTION OR
THE SALE TO THE INITIAL PURCHASER OR, IN THE CASE OF A PRIVATE HOME IN A

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07517-04-9

S. 3355--A                          2

CONDOMINIUM FORM OF OWNERSHIP, THE FIRST TAXABLE STATUS DATE  AFTER  THE
LATER TO OCCUR OF THE COMPLETION OF SUCH CONSTRUCTION OR THE SALE TO THE
FIRST  INITIAL  PURCHASER OF A CONDOMINIUM DWELLING UNIT IN SUCH PRIVATE
HOME.
  (E)  "INITIAL  PURCHASER"  SHALL  MEAN  THE FIRST PURCHASER OF A NEWLY
CONSTRUCTED PRIVATE HOME OR, IN THE CASE OF A PRIVATE HOME IN  A  CONDO-
MINIUM  FORM  OF OWNERSHIP, THE FIRST PURCHASER OF EACH DWELLING UNIT IN
SUCH NEWLY CONSTRUCTED PRIVATE HOME.
  (F) "LOCAL HOUSING AGENCY" SHALL MEAN AN "AGENCY" AS DEFINED  PURSUANT
TO SECTION SIX HUNDRED NINETY-TWO OF THE GENERAL MUNICIPAL LAW.
  (G)  "PURCHASE  PRICE" SHALL MEAN THE ACTUAL PURCHASE PRICE TO BE PAID
FOR THE PRIVATE HOME BY THE INITIAL PURCHASER.
  (H) "MAXIMUM PURCHASE PRICE" SHALL MEAN  THE  PURCHASE  PRICE  OF  THE
PRIVATE  HOME  WHICH,  IF  EXCEEDED,  WILL  MAKE ANY EXEMPTION HEREUNDER
UNAVAILABLE.
  (I) "MAXIMUM EXEMPTION AMOUNT" SHALL MEAN THE PORTION OF THE  PURCHASE
PRICE TO BE EXEMPTED FROM TAXATION OF: (I) SIX HUNDRED SEVENTY-ONE THOU-
SAND DOLLARS IN THE CASE OF A PRIVATE HOME CONTAINING ONE DWELLING UNIT,
(II) SEVEN HUNDRED FIFTY-FIVE THOUSAND FIVE HUNDRED FORTY DOLLARS IN THE
CASE  OF  A  PRIVATE  HOME  CONTAINING  TWO  DWELLINGS UNITS, (III) NINE
HUNDRED FOURTEEN THOUSAND SEVEN HUNDRED FIFTY DOLLARS IN THE CASE  OF  A
PRIVATE  HOME  CONTAINING  THREE  DWELLING  UNITS, AND (IV) FOUR HUNDRED
THOUSAND DOLLARS FOR EACH INDIVIDUAL CONDOMINIUM UNIT  IN  THE  CASE  OF
CONDOMINIUM  FORM  OF  OWNERSHIP IN A PRIVATE HOME. THE MAXIMUM PURCHASE
PRICES PROVIDED IN SUBPARAGRAPHS (I), (II), (III) AND (IV) OF THIS PARA-
GRAPH SHALL BE THE LIMIT FOR THE APPLICATION OF ANY EXEMPTION FROM TAXA-
TION UNDER THIS SECTION. NO EXEMPTION SHALL BE AVAILABLE WHERE THE MAXI-
MUM PURCHASE PRICE EXEMPTION IS IN EXCESS OF NINE HUNDRED FIFTY THOUSAND
DOLLARS FOR A ONE, TWO, OR THREE FAMILY PRIVATE  HOME  OR  FOUR  HUNDRED
THOUSAND DOLLARS FOR AN INDIVIDUAL CONDOMINIUM UNIT.
  (J)  "MULTIPLE  DWELLING"  SHALL  MEAN  A MULTIPLE DWELLING WITHIN THE
MEANING OF SECTION FOUR OF THE MULTIPLE DWELLING LAW.
  (K) "PRIVATE HOME" SHALL MEAN AN OWNER OCCUPIED  PRIVATE  OR  MULTIPLE
DWELLING  CONTAINING NOT MORE THAN THREE DWELLING UNITS, AS INDICATED ON
THE CERTIFICATE OF OCCUPANCY FOR SUCH STRUCTURE.
  2. (A) WITHIN A CITY HAVING A POPULATION OF ONE MILLION  OR  MORE,  AN
ELIGIBLE  PROJECT  SHALL  BE  EXEMPT FROM ALL LOCAL AND MUNICIPAL TAXES,
OTHER THAN ASSESSMENTS FOR LOCAL IMPROVEMENTS, DURING THE  TAX  YEAR  OR
YEARS  NEXT  FOLLOWING  THE EXEMPTION COMMENCEMENT DATE AS FOLLOWS: WITH
RESPECT TO PRIVATE HOMES CONTAINING LESS THAN FOUR DWELLING  UNITS,  TWO
YEARS  OF  EXEMPTION  FROM  ALL  SUCH  TAXES;  FOLLOWED  BY  ONE YEAR OF
EXEMPTION FROM SEVENTY-FIVE PERCENT OF SUCH TAXES; FOLLOWED BY ONE  YEAR
OF EXEMPTION FROM SIXTY-TWO AND ONE-HALF PERCENT OF SUCH TAXES; FOLLOWED
BY  ONE  YEAR OF EXEMPTION FROM FIFTY PERCENT OF SUCH TAXES; FOLLOWED BY
ONE YEAR OF EXEMPTION FROM THIRTY-SEVEN AND  ONE-HALF  PERCENT  OF  SUCH
TAXES;  FOLLOWED  BY  ONE  YEAR OF EXEMPTION FROM TWENTY-FIVE PERCENT OF
SUCH TAXES; AND FOLLOWED BY  ONE  YEAR  OF  EXEMPTION  FROM  TWELVE  AND
ONE-HALF PERCENT OF SUCH TAXES.
  (B)  NOTWITHSTANDING  THE PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVI-
SION, EXEMPTION FROM LOCAL AND MUNICIPAL TAXES UNDER THIS SECTION  SHALL
NOT  BE  AVAILABLE  TO  THE TAX LOT (LAND AND IMPROVEMENTS) UPON WHICH A
PRIVATE HOME IS CONSTRUCTED IF ANY PORTION OF SUCH  TAX  LOT  (LAND  AND
IMPROVEMENTS):  (I)  IS  EXEMPT FROM LOCAL AND MUNICIPAL TAXES UNDER ANY
OTHER LAW; (II)  CONTAINS  A  PRIVATE  HOME  THAT  EXCEEDS  THE  MAXIMUM
PURCHASE PRICE OR AN INDIVIDUAL CONDOMINIUM UNIT THAT EXCEEDS A PURCHASE
PRICE  OF FOUR HUNDRED THOUSAND DOLLARS; OR (III) PREVIOUSLY CONTAINED A

S. 3355--A                          3

PRIVATE OR MULTIPLE DWELLING THAT HAS BEEN FULLY DEMOLISHED AND  REMOVED
AND  LESS  THAN THREE YEARS HAVE ELAPSED BETWEEN THE DATE OF ISSUANCE OF
THE PERMIT AUTHORIZING SUCH DEMOLITION AND REMOVAL AND THE DATE THAT THE
NEW PRIVATE HOME COMMENCES CONSTRUCTION.
  (C)  NOTWITHSTANDING  THE PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVI-
SION, THE TAX LOT (LAND AND IMPROVEMENTS) UPON WHICH THE PRIVATE HOME IS
CONSTRUCTED SHALL AT ALL TIMES BE SUBJECT TO LOCAL AND  MUNICIPAL  TAXES
IN  AN AMOUNT NOT LESS THAN THE AMOUNT OF LOCAL AND MUNICIPAL TAXES THAT
WOULD BE PAYABLE THEREON BASED UPON THE ASSESSED VALUATION OF  THE  LAND
APPEARING  ON  THE ASSESSMENT ROLL IN THE FIRST YEAR AFTER COMPLETION OF
CONSTRUCTION.
  3. (A) BASED ON THE CERTIFICATION OF THE LOCAL HOUSING AGENCY PURSUANT
TO THIS SECTION CERTIFYING ELIGIBILITY FOR EXEMPTION  PURSUANT  TO  THIS
SECTION,  THE DEPARTMENT OF FINANCE OF THE CITY OF NEW YORK SHALL IMPLE-
MENT THE AMOUNT OF EXEMPTION FROM LOCAL AND MUNICIPAL TAXES.
  (B) THE LOCAL HOUSING AGENCY MAY PROMULGATE RULES AND  REGULATIONS  TO
CARRY  OUT  THE  PROVISIONS OF THIS SECTION AND MAY REQUIRE PAYMENT OF A
NON-REFUNDABLE FILING FEE IN THE  AMOUNT  OF  TWO  HUNDRED  DOLLARS  PER
DWELLING  UNIT  FOR  EACH APPLICATION FOR TAX EXEMPTION PURSUANT TO THIS
SECTION.
  (C) UPON A FINDING BY THE LOCAL HOUSING AGENCY OR  BY  ANOTHER  AGENCY
DESIGNATED BY SUCH LOCAL HOUSING AGENCY THAT A PRIVATE HOME IS NOT BEING
USED  FOR  RESIDENTIAL  PURPOSES,  IS  THE SUBJECT OF A VIOLATION FOR AN
ILLEGAL OCCUPANCY, OR IS NOT OWNER  OCCUPIED,  EXEMPTION  FROM  TAXATION
UNDER  THIS  SECTION SHALL BE REVOKED AND SHALL TERMINATE PROSPECTIVELY;
PROVIDED, HOWEVER, THAT IN THE CASE OF AN ILLEGAL OCCUPANCY,  THE  OWNER
SHALL  REPAY  ALL TAXES, WITH INTEREST, FROM WHICH SUCH PRIVATE HOME WAS
EXEMPTED AND SUCH AMOUNT, IF UNPAID, SHALL BECOME A TAX LIEN AGAINST THE
PROPERTY.
  S 2. This act shall take effect immediately.

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Senate Bill S3355

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Sponsored By

Archive: Last Bill Status - In Senate Committee Cities Committee

Bill Amendments

co-Sponsors

2009-S3355 - Details

2009-S3355 - Summary

2009-S3355 - Sponsor Memo

2009-S3355 - Bill Text download pdf

co-Sponsors

2009-S3355A (ACTIVE) - Details

2009-S3355A (ACTIVE) - Summary

2009-S3355A (ACTIVE) - Sponsor Memo

2009-S3355A (ACTIVE) - Bill Text download pdf

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