Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 29, 2014 |
held for consideration in real property taxation |
Jan 08, 2014 |
referred to real property taxation |
Jan 28, 2013 |
referred to real property taxation |
Assembly Bill A3720
2013-2014 Legislative Session
Sponsored By
RA
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
2013-A3720 (ACTIVE) - Details
2013-A3720 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3720 2013-2014 Regular Sessions I N A S S E M B L Y January 28, 2013 ___________ Introduced by M. of A. RA -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to exempting real property purchased by first-time homebuyers from real property taxa- tion 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 457-a to read as follows: S 457-A. EXEMPTION FOR FIRST-TIME HOMEBUYERS. 1. PRIMARY RESIDENTIAL PROPERTY PURCHASED BY ONE OR MORE PERSONS, EACH OF WHOM IS A FIRST-TIME HOMEBUYER AND HAS NOT BEEN MARRIED TO A HOMEOWNER IN THE THREE YEARS PRIOR TO APPLYING FOR THIS FIRST-TIME HOMEOWNERS EXEMPTION, SHALL BE EXEMPT FROM TAXATION LEVIED BY OR ON BEHALF OF ANY COUNTY, CITY, TOWN, VILLAGE OR SCHOOL DISTRICT IN WHICH SUCH RESIDENTIAL PROPERTY IS LOCATED, PROVIDED THE LEGISLATIVE BODY OR GOVERNING BOARD OF SUCH COUN- TY, CITY, TOWN OR VILLAGE, AFTER PUBLIC HEARING, ADOPTS A LOCAL LAW, OR A SCHOOL DISTRICT, OTHER THAN A SCHOOL DISTRICT TO WHICH ARTICLE FIFTY- TWO OF THE EDUCATION LAW APPLIES, ADOPTS A RESOLUTION PROVIDING THERE- FOR. THE LENGTH OF SUCH EXEMPTION SHALL BE SET FORTH IN SUCH LOCAL LAW OR RESOLUTION, BUT IN NO EVENT SHALL IT EXCEED FIVE YEARS. SUCH EXEMPTION SHALL BE COMPUTED IN ACCORDANCE WITH THE FOLLOWING TABLE: YEAR OF EXEMPTION PERCENTAGE ASSESSED VALUATION EXEMPT FROM TAX 1 40 2 30 3 25 4 25 5 10 6 OR MORE 0 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05925-01-3
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.