Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to local government |
Jun 11, 2015 |
referred to rules |
Senate Bill S5919
2015-2016 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Local Government 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
co-Sponsors
(D) Senate District
2015-S5919 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10221
- Current Committee:
- Senate Local Government
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd ยง1805, RPT L
- Versions Introduced in 2017-2018 Legislative Session:
-
S1871, A1358
2015-S5919 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5919 TITLE OF BILL: An act to amend the real property tax law, in relation to the real property tax cap and certain class two properties PURPOSE OR GENERAL IDEA OF BILL: The purpose of the bill is to limit the increases of assessed value of certain individual class two properties. SUMMARY OF PROVISIONS: Section 1 of the bill amends section subdivision 2 of section 1805 of the real property tax law, to include parcels with an assessed valuation of less than seventy-five thousand dollars as eligible for the property tax cap created by this section. Section 2 of the bill provides that this act shall take effect immediately. JUSTIFICATION: As a lack of affordable housing grows every year within New York City, middle-income and affordable housing has become ever more vital, Few middle-income condo and co-op owners are able to take advantage of the same protections available to owners of other types of housing However, for many, coops and condos are the best option for affordable housing
2015-S5919 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5919 2015-2016 Regular Sessions I N S E N A T E June 11, 2015 ___________ Introduced by Sen. AVELLA -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the real property tax law, in relation to the real prop- erty tax cap and certain class two properties THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The opening paragraph of subdivision 2 of section 1805 of the real property tax law, as amended by chapter 586 of laws of 1992, is amended to read as follows: The assessment roll of a special assessing unit wholly contained with- in a city shall identify those parcels classified in class two which have fewer than eleven residential units OR PARCELS WITH AN ASSESSED VALUATION OF LESS THAN SEVENTY-FIVE THOUSAND DOLLARS. The assessor of any such special assessing unit shall not increase the assessment of any parcel so identified in any one year, as measured from the actual assessment on the previous year's assessment roll, by more than eight percent and shall not increase such assessment by more than thirty percent in any five-year period. The first such five-year period shall be measured from the individual assessment appearing on the assessment roll completed in nineteen hundred eighty-one provided that, if such parcel would not have been subject to the provisions of this subdivision in nineteen hundred eighty-one had this subdivision then been in effect, the first such five-year period shall be measured from the first year after nineteen hundred eighty-one in which this subdivision applied to such parcel or would have applied to such parcel had this subdivision been in effect in such year. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11593-01-5
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