Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 |
referred to real property taxation |
Jan 23, 2009 |
referred to real property taxation |
Assembly Bill A3208
2009-2010 Legislative Session
Sponsored By
CHRISTENSEN
Archive: Last Bill Status - In Assembly 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
Actions
2009-A3208 (ACTIVE) - Details
- See Senate Version of this Bill:
- S2510
- Current Committee:
- Assembly Real Property Taxation
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd ยง485-j, RPT L
2009-A3208 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3208 2009-2010 Regular Sessions I N A S S E M B L Y January 23, 2009 ___________ Introduced by M. of A. CHRISTENSEN -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to increasing the partial real property tax exemption for residential improvements and an added exemption schedule for LEED certification standards for green buildings in certain cities THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions 1, 2 and 4 of section 485-j of the real prop- erty tax law, as added by chapter 195 of the laws of 2006, are amended to read as follows: 1. Construction of improvements to residential real property initi- ated on or after the first day of January, two thousand [six] TEN in the cities with a population of not less than one hundred thirty thousand and not more than one hundred sixty thousand may be exempt from city and school taxation as provided in this section. 2. (a)(i) Such real property shall be exempt for a period of [one year] TWO YEARS to the extent of one hundred per centum of the increase in assessed value thereof attributable to such construction and for an additional period of four years provided, however, that the extent of such exemption shall be decreased by twenty per centum each year during such additional period of four years and such exemption shall be computed with respect to the "exemption base". The exemption base shall be the increase in assessed value due to improvements as determined by the assessor in the initial year of such [five] SIX year period follow- ing the filing of an original application. (ii) The following table shall illustrate the computation of the city tax exemption: Year of exemption Percentage of exemption 1 100 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05537-01-9
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