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Assembly Bill A2829

2013-2014 Legislative Session

Limits the increase in a property's assessed value for assessment rolls in 2005 and thereafter

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Archive: Last Bill Status - In Assembly Committee

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2013-A2829 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
New York City
Versions Introduced in Other Legislative Sessions:
2009-2010: A1432
2011-2012: A4913

2013-A2829 (ACTIVE) - Summary

Limits the increase in a property's assessed value for assessment rolls in 2005 and thereafter for a certain class two property located in the borough of Manhattan identified on the tax map as Block No. 2041, Lot No. 37.

2013-A2829 (ACTIVE) - Bill Text download pdf 

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

                                  2829

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 18, 2013
                               ___________

Introduced by M. of A. WRIGHT -- read once and referred to the Committee
  on Real Property Taxation

AN  ACT  in  relation to authorizing the assessor of a special assessing
  unit wholly contained within a  city  to  limit  assessment  increases
  attributable  to  or  improvements to class two property identified as
  Block No. 2041, Lot No. 37 on the tax map for the borough of Manhattan

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

  Section  1.  Notwithstanding any provision of law to the contrary, the
assessor in any special assessing unit wholly contained within  a  city,
shall  not  increase  the assessment of property identified as Block No.
2041, Lot No. 37 on the tax map for the borough of Manhattan, classified
in class two which property has fewer  than  eleven  residential  units,
with  respect  to  any increase in value attributable to additions to or
improvements of such property  that  were  not  reflected  in  the  2005
assessment  roll  or  any  subsequent assessment roll, by more than one-
third of the amount that such assessment would increase, in the  absence
of this act, with respect to any increase in value attributable to addi-
tions to or improvements of such property that were not reflected on the
2005 assessment roll or any subsequent assessment roll.  Notwithstanding
the provisions of subdivision 5 of section 1805 of the real property tax
law,  the  remainder of the increase in value attributable to such addi-
tions or improvements that were not reflected  on  the  2005  assessment
roll  or  any subsequent assessment roll shall be subject to the limita-
tions on increases provided in subdivision 2 of section 1805 of the real
property tax law.
  S 2. This act shall take effect immediately and shall apply to assess-
ment rolls completed in 2005 and thereafter; provided, however, that the
assessor or such other local official having custody and control of  the
assessment roll is hereby authorized to revise the final assessment roll
in  accordance  with  the provisions of this act and the commissioner of
finance of the city of New York is hereby authorized to take such  other
actions as may be necessary to implement the provisions of this act.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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