Assembly Bill A6318

2013-2014 Legislative Session

Provides that if an assessment is challenged and ultimately reduced, the petitioner is entitled to interest on the refunded amount

download bill text pdf

Sponsored By

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

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2013-A6318 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง722, RPT L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8140
2015-2016: A5488
2017-2018: A5799

2013-A6318 (ACTIVE) - Summary

Provides that if an assessment is challenged and ultimately reduced, the petitioner is entitled to interest on the refunded amount.

2013-A6318 (ACTIVE) - Bill Text download pdf 

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

                                  6318

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                             March 25, 2013
                               ___________

Introduced by M. of A. NOJAY, TENNEY, BORELLI, CORWIN -- Multi-Sponsored
  by  --  M.  of  A.    ARROYO,  HAWLEY -- read once and referred to the
  Committee on Real Property Taxation

AN ACT to amend the real property tax law, in relation to  allowing  for
  interest on the amount refunded after a reduced assessment

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

  Section 1. Section 722 of the real property  tax  law  is  amended  by
adding a new subdivision 3 to read as follows:
  3.  IF  AN  ASSESSMENT IS CHALLENGED AND ULTIMATELY REDUCED, THE PETI-
TIONER SHALL BE ENTITLED TO INTEREST ON ANY AMOUNT REFUNDED AT AN ANNUAL
INTEREST RATE EQUAL TO THAT CHARGED  BY  THE  REFUNDING  UNIT  FOR  LATE
PAYMENT OF REAL PROPERTY TAXES.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06107-01-3

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