Assembly Bill A5799

2017-2018 Legislative Session

Provides that if an assessment is challenged and ultimately reduced, the petitioner is entitled to interest on the refunded amount

download bill text pdf

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Archive: Last Bill Status - In Assembly 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

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2017-A5799 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §722, RPT L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8140
2013-2014: A6318
2015-2016: A5488

2017-A5799 (ACTIVE) - Summary

Provides that if an assessment is challenged and ultimately reduced, the petitioner is entitled to interest on the refunded amount.

2017-A5799 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5799
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 15, 2017
                                ___________
 
 Introduced  by  M.  of  A. ERRIGO, MORINELLO, CASTORINA -- read once and
   referred to the Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to  allowing  for
   interest on the amount refunded after a reduced assessment
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 722 of the real property  tax  law  is  amended  by
 adding a new subdivision 3 to read as follows:
   3.  IF  AN  ASSESSMENT IS CHALLENGED AND ULTIMATELY REDUCED, THE PETI-
 TIONER SHALL BE ENTITLED TO INTEREST ON ANY AMOUNT REFUNDED AT AN ANNUAL
 INTEREST RATE EQUAL TO THAT CHARGED  BY  THE  REFUNDING  UNIT  FOR  LATE
 PAYMENT OF REAL PROPERTY TAXES.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09051-01-7

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