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Assembly Bill A5486

2015-2016 Legislative Session

Removes the prohibition on changing an assessment following litigation; repealer

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Archive: Last Bill Status - Stricken

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2015-A5486 (ACTIVE) - Details

Law Section:
Real Property Tax Law
Laws Affected:
Rpld §727, amd §485, RPT L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8142
2013-2014: A6372
2017-2018: A5803

2015-A5486 (ACTIVE) - Summary

Removes the prohibition on changing an assessment following litigation.

2015-A5486 (ACTIVE) - Bill Text download pdf 

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

                                  5486

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 24, 2015
                               ___________

Introduced by M. of A. NOJAY, TENNEY, 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  prohibition
  against  change  in  assessment  following  litigation;  and to repeal
  section 727 of such law relating thereto

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

  Section 1. Section 727 of the real property tax law is REPEALED.
  S  2.  Subdivision  10 of section 485 of the real property tax law, as
added by chapter 87 of the laws of 2001, is amended to read as follows:
  10. When restrictions have been imposed upon changing  future  assess-
ments  of a facility pursuant to [the provisions of either section seven
hundred twenty-seven of this chapter or] a formal agreement between  the
parties,  and the facility becomes exempt pursuant to this section, such
restrictions shall apply to future assessments of the  facility  to  the
same extent as if it had not become exempt pursuant to this section.
  S 3. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07801-01-5

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