S T A T E   O F   N E W   Y O R K
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                                  9170

                          I N  A S S E M B L Y

                             March 25, 2014
                               ___________

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

AN ACT to amend the administrative code of the  city  of  New  York,  in
  relation  to requiring assessment-rolls to be published on the depart-
  ment of finance website

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

  Section  1. The administrative code of the city of New York is amended
by adding a new section 11-218.1 to read as follows:
  S 11-218.1 ASSESSMENT-ROLLS;  PUBLICATION.  A.  THE  COMMISSIONER   OF
FINANCE  SHALL PUBLISH THE ASSESSMENT-ROLLS ON THE DEPARTMENT OF FINANCE
WEBSITE IN SUCH A MANNER AS TO ALLOW VISITORS TO THE WEBSITE  TO  SEARCH
FOR INFORMATION CONTAINED WITHIN SUCH ASSESSMENT-ROLLS.
  B. THE COMMISSIONER OF FINANCE SHALL PUBLISH INFORMATION REGARDING HOW
A PROPERTY ASSESSMENT IS DERIVED ON THE DEPARTMENT OF FINANCE WEBSITE IN
A SEARCHABLE DATABASE.
  C.  THE  ASSESSMENT-ROLLS  AND ONLINE SEARCHABLE DATABASE PUBLISHED IN
ACCORDANCE WITH THIS SECTION SHALL, AT A MINIMUM, CONTAIN THE  FOLLOWING
INFORMATION:
  (1)  PROPERTY  INFORMATION,  INCLUDING  ADDRESS,  BLOCK,  LOT, AND TAX
CLASS;
  (2) A LIST OF THE COMPARABLE PROPERTIES THAT THE ASSESSORS  HAVE  USED
FOR ASSESSMENT FOR CLASS ONE AND TWO PROPERTIES;
  (3)  THE  BASE AND OVERALL CAPITALIZATION RATES FOR CLASS FOUR PROPER-
TIES;
  (4) THE FAIR MARKET VALUE;
  (5) THE TARGET ASSESSMENT RATIO;
  (6) THE ACTUAL ASSESSED VALUE, AS DETERMINED BY MULTIPLYING  THE  FAIR
MARKET VALUE BY THE TARGET ASSESSMENT RATIO;
  (7) WHETHER AN ASSESSMENT CAP OR TRANSITIONAL ASSESSMENT PROCESS IS IN
USE,  AND  THE PERCENTAGE OF SUCH CAP OR THE LENGTH OF TIME USED FOR THE
TRANSITION;
  (I) THE ASSESSED VALUE WITH THE CAP OR TRANSITION;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10199-03-3
              

A. 9170                             2

  (II) A LIST OF APPLICABLE EXEMPTIONS AND THE AMOUNT OF EACH EXEMPTION.
EACH EXEMPTION SHOULD BE LINKED TO A FULL DESCRIPTION OF THE EXEMPTION;
  (III) THE TAXABLE ASSESSED VALUE;
  (IV) THE NOMINAL TAX RATE;
  (V)  THE  BASE TAX LIABILITY, AS DETERMINED BY MULTIPLYING THE TAXABLE
ASSESSED VALUE BY THE NOMINAL TAX RATE;
  (VI) A LIST OF ABATEMENTS APPLIED AND THE AMOUNT  OF  EACH  ABATEMENT.
EACH ABATEMENT SHOULD BE LINKED TO A FULL DESCRIPTION OF THE ABATEMENT;
  (VII) THE FINAL TAX BILL; AND
  (VIII) THE EFFECTIVE TAX RATE, AS DETERMINED BY DIVIDING THE FINAL TAX
BILL BY THE FAIR MARKET VALUE.
  S  2.  This  act  shall  take effect on the two hundred seventieth day
after it shall have become a law.