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

                                  10416

                          I N  A S S E M B L Y

                              May 26, 2016
                               ___________

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

AN ACT to amend the real property tax law, in relation to a  residential
  reassessment exemption

  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 485-s to read as follows:
  S  485-S.  RESIDENTIAL REASSESSMENT EXEMPTION. 1.  APPLICABILITY.  THE
GOVERNING BODY OF AN ASSESSING UNIT LOCATED WITHIN A COUNTY WITH A POPU-
LATION OF NOT LESS THAN NINE HUNDRED THIRTY THOUSAND AND NOT  MORE  THAN
ONE MILLION TWO HUNDRED THOUSAND BASED UPON THE LATEST DECENNIAL CENSUS,
MAY,  AFTER  A  PUBLIC  HEARING, ADOPT THE PROVISIONS OF THIS SECTION BY
LOCAL LAW IN THE FIRST YEAR OF A REVALUATION TO  PROVIDE  A  RESIDENTIAL
REASSESSMENT EXEMPTION. IF THE GOVERNING BODY OF AN ASSESSING UNIT PASS-
ES  A  LOCAL LAW PURSUANT TO THIS SUBDIVISION, SUCH EXEMPTION SHALL ALSO
APPLY IN THE SAME MANNER AND TO THE SAME EXTENT TO EACH VILLAGE, COUNTY,
SPECIAL DISTRICT OR SCHOOL DISTRICT THAT LEVIES TAXES ON THE  ASSESSMENT
ROLL  PREPARED BY SUCH ASSESSING UNIT. AN INDEPENDENT ASSESSING VILLAGE,
WITHIN AN ASSESSING UNIT THAT  HAS  CONDUCTED  A  REVALUATION  AND  THAT
CHOOSES  TO  ADOPT  THAT  ASSESSING UNIT'S LATEST FIXED FINAL ASSESSMENT
ROLL IS PERMITTED TO ADOPT THE PROVISIONS OF  THIS  SECTION  WITHIN  TWO
YEARS OF ITS IMPLEMENTATION.
  2.  ELIGIBILITY.  (A)  THE  ASSESSORS IN EACH ASSESSING UNIT THAT HAVE
ADOPTED THE PROVISIONS OF THIS SECTION SHALL, IN THE FIRST YEAR IN WHICH
REVALUATION ASSESSMENTS ARE TO BE ENTERED ON THE ASSESSMENT ROLL AND FOR
THE NEXT SUCCEEDING YEAR, APPLY TO EACH ELIGIBLE RESIDENTIAL PROPERTY AN
EXEMPTION AS PROVIDED IN SUBDIVISION THREE  OF  THIS  SECTION.  FOR  THE
PURPOSE  OF  THIS  SECTION, TO BE AN "ELIGIBLE RESIDENTIAL PROPERTY" THE
FOLLOWING CRITERIA MUST BE MET:
  (I) THE PROPERTY MUST BE A ONE-,  TWO-,  OR  THREE-FAMILY  RESIDENTIAL
PROPERTY,  PROVIDED  THAT  IN  AN APPROVED ASSESSING UNIT DWELLING UNITS
HELD IN CONDOMINIUM FORM OF OWNERSHIP THAT ARE CLASSIFIED IN  THE  HOME-
STEAD TAX CLASS SHALL ALSO BE ELIGIBLE;

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

                                                           LBD15595-03-6

A. 10416                            2

  (II)  THE  PROPERTY  MUST  BE  ELIGIBLE  TO RECEIVE THE STAR EXEMPTION
AUTHORIZED BY SECTION FOUR HUNDRED TWENTY-FIVE OF THE REAL PROPERTY  TAX
LAW  OR  THE  OWNER  OR  OWNERS MUST BE ELIGIBLE TO RECEIVE THE PERSONAL
INCOME TAX SCHOOL TAX RELIEF  (STAR)  CREDIT  AUTHORIZED  BY  SUBSECTION
(EEE)  OF  SECTION SIX HUNDRED SIX OF THE TAX LAW, AS ADDED BY SECTION 6
OF PART A OF CHAPTER 60 OF THE LAWS OF 2016, FOR SUCH PROPERTY.
  (III) IN ANY GIVEN YEAR, THE OWNER OR OWNERS RECEIVING  THE  EXEMPTION
PURSUANT  TO  THIS  SECTION MUST BE THE SAME AS THE OWNER OR OWNERS THAT
APPEARED ON THE ASSESSMENT ROLL UPON WHICH THE  REASSESSMENT  IS  IMPLE-
MENTED;
  (IV)  THE PROPERTY MUST HAVE A CERTIFICATE OF OCCUPANCY OR A TEMPORARY
CERTIFICATE OF OCCUPANCY; AND
  (V) THE PROPERTY MUST NOT HAVE ANY DELINQUENT TAXES AS OF THE  TAXABLE
STATUS DATE FOR THE ROLL ON WHICH AN EXEMPTION IS APPLIED.
  (B)  IN  ADDITION  TO  THE  CRITERIA PROVIDED IN PARAGRAPH (A) OF THIS
SUBDIVISION, AN ASSESSING UNIT MAY  FURTHER  LIMIT  THE  ELIGIBILITY  TO
ELIGIBLE  RESIDENTIAL  PROPERTY WHOSE FULL VALUE INCREASE EXCEEDED A SET
VALUE THRESHOLD AS SPECIFIED IN THEIR LOCAL LAW ADOPTING THE  PROVISIONS
OF  THIS  SECTION.    IF  PROVIDED  BY LOCAL LAW, THE ASSESSING UNIT MAY
REQUIRE AN INTERIOR INSPECTION OF THE PROPERTY BY THE DESIGNEE  OF  SUCH
ASSESSING  UNIT.  IF PROVIDED BY LOCAL LAW, THE ASSESSING UNIT MAY ELECT
TO GRANT EXEMPTIONS TO ONLY THOSE PROPERTIES THAT DO NOT HAVE  OUTSTAND-
ING BUILDING CODE VIOLATIONS.
  3.  EXEMPTION CALCULATION. (A)(I) THE EXEMPTION SHALL BE COMPUTED WITH
RESPECT TO A PERCENTAGE OF THE  "EXEMPTION  BASE."  THE  EXEMPTION  BASE
SHALL  BE  THE INCREASE IN THE EQUALIZED ASSESSED VALUE OF A PROPERTY ON
THE ASSESSMENT ROLL UPON WHICH THE REASSESSMENT IS IMPLEMENTED OVER  THE
PRIOR  YEAR'S  EQUALIZED  ASSESSED  VALUE,  AS DETERMINED IN THE INITIAL
YEAR. THE EQUALIZED ASSESSED VALUE SHALL BE DETERMINED BY  APPLYING  THE
APPLICABLE  CHANGE  IN  LEVEL  OF ASSESSMENT FACTOR. SUCH EXEMPTION BASE
SHALL NOT INCLUDE INCREASES DUE TO A PHYSICAL IMPROVEMENT OR  A  REMOVAL
OR REDUCTION OF AN EXEMPTION ON PROPERTY.
  (II)  ANY  INCREASE  IN  THE  ASSESSMENT OF A PROPERTY DUE TO PHYSICAL
CHANGES IN THE YEAR FOLLOWING  THE  IMPLEMENTATION  ROLL  SHALL  NOT  BE
ELIGIBLE FOR THE EXEMPTION. IN THE EVENT THAT ANY PORTION OF A PARCEL IS
FULLY  OR  PARTIALLY REMOVED FROM THE ROLL DURING THE YEAR FOLLOWING THE
IMPLEMENTATION ROLL BY REASON OF FIRE, DEMOLITION,  DESTRUCTION  OR  NEW
EXEMPTION,  THE  ASSESSOR  SHALL  REDUCE THE EXEMPTION FOR ANY REMAINING
PORTION IN THE SAME PROPORTION ASSESSMENT  IS  REDUCED  FOR  SUCH  FIRE,
DEMOLITION, DESTRUCTION OR NEW EXEMPTION.
  (B)(I) THE EXEMPTION SHALL BE TO THE EXTENT OF SIXTY-SIX PER CENTUM OF
THE EXEMPTION BASE IN YEAR ONE, THIRTY-THREE PER CENTUM OF THE EXEMPTION
BASE  IN  YEAR  TWO,  AND  ZERO PER CENTUM OF THE EXEMPTION BASE IN YEAR
THREE.
  (II) THE FOLLOWING TABLE  SHALL  ILLUSTRATE  THE  COMPUTATION  OF  THE
EXEMPTION:
     YEAR OF EXEMPTION        PERCENTAGE OF EXEMPTION
     1                        66% OF EXEMPTION BASE
     2                        33% OF EXEMPTION BASE
     3                        0% OF EXEMPTION BASE
  4.  GRANTING  OF EXEMPTION.   (A) SUCH EXEMPTION SHALL BE GRANTED ONLY
UPON APPLICATION BY THE OWNER OR OWNERS OF SUCH REAL PROPERTY ON A  FORM
PRESCRIBED BY THE COMMISSIONER. SUCH APPLICATION SHALL BE FILED WITH THE
ASSESSOR  ON  OR  BEFORE  THE  APPROPRIATE  TAXABLE  STATUS DATE FOR THE
ASSESSMENT ROLL UPON WHICH THE REASSESSMENT IS IMPLEMENTED.

A. 10416                            3

  (B) IF THE ASSESSOR IS SATISFIED THAT THE APPLICANT IS ENTITLED TO  AN
EXEMPTION PURSUANT TO THIS SECTION, HE OR SHE SHALL APPROVE THE APPLICA-
TION  AND  THE  PORTION OF THE INCREASED ASSESSMENT SHALL BE EXEMPT FROM
TAXATION AND SPECIAL AD VALOREM LEVIES FOR TOWN, COUNTY, SCHOOL, AND  IF
APPLICABLE VILLAGE PURPOSES, AS IN THIS SECTION PROVIDED COMMENCING WITH
THE ASSESSMENT ROLL PREPARED AFTER THE TAXABLE STATUS DATE. THE ASSESSED
VALUE OF ANY EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL BE ENTERED
BY  THE ASSESSOR ON THE ASSESSMENT ROLL WITH THE AMOUNT OF THE EXEMPTION
SHOWN IN A SEPARATE COLUMN.
  (C) IN THE EVENT THAT THE RESIDENTIAL PROPERTY  GRANTED  AN  EXEMPTION
PURSUANT TO THIS SECTION TRANSFERS OWNERSHIP OR OTHERWISE CEASES TO MEET
THE ELIGIBILITY REQUIREMENTS OF THE EXEMPTION IN SUBDIVISION TWO OF THIS
SECTION, THE EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL BE DISCON-
TINUED.  UPON  DETERMINING  THAT  AN  EXEMPTION GRANTED PURSUANT TO THIS
SECTION SHOULD BE DISCONTINUED, THE ASSESSOR  SHALL  MAIL  A  NOTICE  SO
STATING  TO  THE  OWNER  OR OWNERS THEREOF AT THE TIME AND IN THE MANNER
PROVIDED BY SECTION FIVE HUNDRED TEN OF THIS CHAPTER.
  S 2. The following provisions shall apply in an  assessing  unit  that
adopts  the provisions of section 485-s of the real property tax law for
an assessment roll finalized in the year 2016. Notwithstanding paragraph
(a) of subdivision 4 of section 485-s of  the  real  property  tax  law,
applications for exemption shall be filed with the assessor on or before
a  date  specified  in the local law adopting the provisions of 485-s of
the real property tax law. If the form of the application for  exemption
has  not  yet  been  prescribed by the commissioner thirty days prior to
such date specified in the local law, a form prescribed by the assessing
unit may be used in its place. Notwithstanding any other section of  law
to the contrary, to the extent the taxable assessed value of the proper-
ty  originally  appearing  on  such  roll exceeds the amount to which it
should be reduced pursuant to section 485-a of  the  real  property  tax
law,  the  assessor  shall  amend  the  assessment roll accordingly. The
assessor shall give written notice of such  exemption  to  the  property
owner,  who may, if he or she believes that the exemption was recomputed
incorrectly, apply for a correction in  the  manner  provided  by  title
three of article five of the real property tax law for the correction of
clerical  errors.  Where  the  assessor  denies an exemption pursuant to
section 485-s of the real property tax law for the 2016 assessment roll,
the property owner may file a complaint with  the  board  of  assessment
review. Such board shall reconvene on a date or dates established by the
assessing  unit,  provided at least ten days' notice is given in writing
to the property owner, to hear the appeal and determine the matter,  and
shall mail written notice of its determination to the assessor and prop-
erty  owner.  Notwithstanding  sections 283.161 and 283.171 of the West-
chester County Administrative Code, for the purpose of implementing  the
residential reassessment exemption, the assessor or assessors shall file
the  2016  assessment  roll  on or before the first day of December. The
rights contained in this act shall  not  otherwise  diminish  any  other
legally available right of any property owner or party who may otherwise
lawfully  challenge  the valuation or assessment of any real property or
improvements thereon. All remaining rights hereby remain  and  shall  be
available  to the party to whom such rights would otherwise be available
notwithstanding this act.
  S 3. This act shall take effect immediately and shall apply to assess-
ment rolls prepared on and after January 1, 2016.