S T A T E O F N E W Y O R K
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7274--A
2015-2016 Regular Sessions
I N A S S E M B L Y
May 1, 2015
___________
Introduced by M. of A. JEAN-PIERRE -- read once and referred to the
Committee on Ways and Means -- reported and referred to the Committee
on Rules -- Rules Committee discharged, bill amended, ordered
reprinted as amended and recommitted to the Committee on Rules
AN ACT in relation to tax assessments for certain improved properties
affected by Superstorm Sandy
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. a. An owner occupied residential property that is the
primary residence of the owner reconstructed, altered, or improved due
to damage caused by Superstorm Sandy, as defined by subdivision 5 of
section 2 of chapter 424 of the laws of 2013, within an eligible munici-
pality, as defined by subdivision 2 of section 2 of chapter 424 of the
laws of 2013, shall be exempt from taxation of county, town and school
levies to the extent provided hereinafter. After a public hearing, the
governing board of an eligible municipality may adopt a local law and a
school district may adopt a resolution to grant the exemption authorized
pursuant to this act. A copy of such local law or resolution shall be
filed with the commissioner of taxation and finance and the assessor of
such municipality who prepares the assessment roll on which the taxes of
such municipality or school district are levied.
b. To be eligible for the tax exemption authorized by an eligible
municipality or school district pursuant to subdivision a of this
section, such primary residence shall have been owner occupied by the
same owner immediately prior to Superstorm Sandy and immediately after
reconstruction with a certificate of occupancy, and have already
received assessment relief pursuant to chapter 424 of the laws of 2013.
c. Such primary residence shall be exempt for a period of one year to
the extent of one hundred per centum of the increase in assessed value
thereof attributable to such reconstruction, alteration or improvement
and for an additional period of seven years subject to the following:
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06271-07-5
A. 7274--A 2
(i) The extent of such exemption shall be decreased by twelve and
one-half per centum of the "exemption base" each year during such addi-
tional period. The "exemption base" shall be the increase in assessed
value as determined in the initial year of the term of the exemption,
except as provided in paragraph (ii) of this subdivision.
(ii) In any year in which a change in level of assessment of fifteen
percent or more is certified for a final assessment roll pursuant to the
rules of the commissioner of taxation and finance, the exemption base
shall be multiplied by a fraction, the numerator of which shall be the
total assessed value of the parcel on such final assessment roll (after
accounting for any physical or quantity changes to the parcel since the
immediately preceding assessment roll), and the denominator of which
shall be the total assessed value of the parcel on the immediately
preceding final assessment roll. The result shall be the new exemption
base. The exemption shall thereupon be recomputed to take into account
the new exemption base, notwithstanding the fact that the assessor of
such municipality receives certification of the change in level of
assessment after the completion, verification and filing of the final
assessment roll. In the event the assessor of such municipality does not
have custody of the final assessment roll when such certification is
received, the assessor of such municipality shall certify the recomputed
exemption to the local officers having custody and control of the final
assessment roll, and such local officers are hereby directed and author-
ized to enter the recomputed exemption certified by the assessor of such
municipality on the final assessment roll. The assessor of such munici-
pality shall give written notice of such recomputed 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 3 of article 5 of the real property tax law for the correction of
clerical errors.
(iii) Such exemption shall be applied to the difference in the pre-
storm assessed value and the increased assessed value attributable to
all the reconstruction, alterations or improvements due to Superstorm
Sandy. For the purposes of this section, the market value of the recon-
struction, alteration or improvement shall be equal to the increased
assessed value attributable to such reconstruction, alteration or
improvement divided by the class I ratio in a special assessing unit or
the most recently established state equalization rate or special equal-
ization rate in the remainder of the state, except where the state
equalization rate or special equalization rate equals or exceeds nine-
ty-five percent, in which case the increase in assessed value attribut-
able to such reconstruction, alteration or improvement shall be deemed
to equal the market value of such reconstruction, alteration or improve-
ment.
d. No such exemption shall be granted for reconstruction, alterations
or improvements unless commenced due to damage caused by Superstorm
Sandy, and reflected on a certificate of occupancy no later than March
1, 2018. The enactment of a local law or resolution granting the
exemption authorized pursuant to this act may limit eligibility for the
exemption to those forms of reconstruction, alterations or improvements
as are prescribed in such local law or resolution. Provided, however,
that in no case shall such exemption be granted for reconstruction,
alterations or improvements to aspects of a primary residence not in
existence or otherwise not a part of the primary residence prior to
October 29, 2012.
A. 7274--A 3
e. Application for such exemption shall be filed with the assessor of
an eligible municipality by the first of March after the adoption of a
local law or resolution pursuant to subdivision a of this section, or
the first of March of any subsequent year thereafter but no later than
March 1, 2018, on a form prescribed by the commissioner of taxation and
finance.
f. If satisfied that the applicant is entitled to an exemption pursu-
ant to this act, the assessor of such municipality shall approve the
application and such primary residence shall be exempt from taxation for
up to eight prospective tax years as provided by this act. The assessed
value of any exemption granted pursuant to this act shall be entered by
the assessor of such municipality on the assessment roll with the taxa-
ble property, with the amount of the exemption shown in a separate
column.
g. For the purposes of this act, a primary residence shall mean any
building or structure designed and occupied exclusively for residential
purposes by not more than three families, and occupied by the owner as a
primary residence.
h. In the event that a primary residence granted an exemption pursuant
to this act ceases to be used as a primary residence of the owner, or
the title thereto is transferred, the exemption granted pursuant to this
act shall cease. However, the exemption granted pursuant to this act
shall continue for the remaining exemption period for as long as an
heir-at-law or distributee of such owner occupies the property as a
primary residence.
i. No such local law or resolution shall reduce or repeal an exemption
granted pursuant to this section until the expiration of the period for
which such exemption was granted.
S 2. This act shall take effect immediately and shall apply to
exemption applications made prior to the first of March next succeeding
the date on which this act shall have become a law and no later than
March 1, 2018, and any exemption once granted shall continue for a peri-
od of up to eight prospective tax years as set forth in this act.