NY State Senate Bill 2017-S6188

Senate Bill S6188

2017-2018 Legislative Session

Provides that residential real property which sustained 50% or greater damage in Hurricane Sandy, and is rebuilt shall be assessed at its pre-Sandy market value

download bill text pdf

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

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2018	referred to local government
Jun 06, 2017	reported and committed to rules
May 11, 2017	referred to local government

Votes

- Jun 6, 2017 - Local Government Committee Vote
  S6188
  
  9
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Local Government Committee Vote: Jun 6, 2017
      
      aye (9)
      
      Boyle
      
      Brooks
      
      Carlucci
      
      Kaminsky
      
      Latimer
      
      Marchione
      
      Murphy
      
      Ortt
      
      Ritchie

2017-S6188 (ACTIVE) - Details

See Assembly Version of this Bill:: A8357
Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Amd §305, RPT L
Versions Introduced in Other Legislative Sessions:: 2013-2014: S6372
2015-2016: S4585
2019-2020: S2642, A1570

2017-S6188 (ACTIVE) - Summary

Provides that residential real property which sustained 50% or greater damage in Hurricane Sandy, and is rebuilt shall be assessed at its pre-Sandy market value.

2017-S6188 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S6188          Revised 1/17/18

SPONSOR: LANZA
 
TITLE OF BILL:  An act to amend the real property tax law, in relation
to assessment of residential real property catastrophically impacted by
superstorm Sandy

 
PURPOSE:

This bill would benefit owners of residential real property that
sustained 50% or greater damage in Hurricane Sandy, and when it is
rebuilt shall be assessed at its pre-Sandy market value.

 
SUMMARY OF PROVISIONS:

Section one of the bill amends section 305 of the Real Property Tax Law
by adding a new subdivision (4) which states that (4(b)) catastroph-
ically impacted property, which is repaired, improved, or reconstructed
to repair damage caused by Superstorm Sandy and comply with state and
local building codes and height restrictions, shall be assessed at the
total assessed value thereof shall be a value which is equal to the

improved value of such real property prior to the damage caused by
Superstorm Sandy, and not the full value of such property. Subdivision
(4(a(i))) defines "Catastrophically impacted property" as residential
real property which lost fifty percent or more of its improved value as
a result of Superstorm Sandy.  (4(a(ii))) defines "Improved value" as
the market value of the real property excluding the land. (4(a(iii)))
defines "Superstorm Sandy" as the storms, rains, winds, and floods which
occurred during the period beginning on October twenty-ninth, two thou-
sand twelve and ending November third, two thousand twelve. (4(a(iv)))
defines "Total assessed value" as the total assessed value of a parcel
prior to any and all exemption adjustments.

Section two of the bill would make the act effective immediately and
shall apply to tax rolls issued on or after such date.

 
JUSTIFICATION:

Superstorm Sandy was a storm of unprecedented strength and destruction
in New York State. For homes that were substantially damaged by Sandy
(more than 50% damaged) they are required to rebuild to conform with the
most recent building codes and height restrictions. Upon completion,
these homes will be considered "new construction" and thus their proper-
ty tax rate will be reassessed, at the full value of the home. This has
the potential to create an immediate and rather significant property tax
increase on these homeowners who are only trying to restore their homes
and return to a sense of normalcy after the storm. This bill would hold
steady the effective assessed value on these homes as they stood pre-
Sandy. In the City of New York the 6% tax cap rate would apply in future
years, in order to prevent an immediate and unusual tax burden on the
homeowners affected by Sandy.

 
LEGISLATIVE HISTORY:

2017: S.6188 - Referred to Rules / A.8357 - Referred to Real Property
Taxation
2016: S.4585 - Referred to Local Government
2015: S.4585 - Referred to Local Government
2014: S.6372 - Referred to Local Government
 
FISCAL IMPLICATIONS:

None available.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to tax rolls
issued on or after such date.

2017-S6188 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6188
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 11, 2017
                                ___________
 
 Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the real property tax law, in relation to assessment  of
   residential  real  property  catastrophically  impacted  by superstorm
   Sandy

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  305  of  the real property tax law is amended by
 adding a new subdivision 4 to read as follows:
   4. (A) FOR THE PURPOSES OF THIS SUBDIVISION:
   (I) "CATASTROPHICALLY IMPACTED PROPERTY" MEANS RESIDENTIAL REAL  PROP-
 ERTY  WHICH LOST FIFTY PERCENT OR MORE OF ITS IMPROVED VALUE AS A RESULT
 OF SUPERSTORM SANDY.
   (II) "IMPROVED VALUE" MEANS THE MARKET  VALUE  OF  THE  REAL  PROPERTY
 IMPROVEMENT EXCLUDING THE LAND.
   (III)  "SUPERSTORM  SANDY"  MEANS  THE STORMS, RAINS, WINDS AND FLOODS
 WHICH OCCURRED DURING THE PERIOD BEGINNING ON OCTOBER TWENTY-NINTH,  TWO
 THOUSAND TWELVE AND ENDING NOVEMBER THIRD, TWO THOUSAND TWELVE.
   (IV) "TOTAL ASSESSED VALUE" MEANS THE TOTAL ASSESSED VALUE OF A PARCEL
 PRIOR TO ANY AND ALL EXEMPTION ADJUSTMENTS.
   (B) CATASTROPHICALLY IMPACTED PROPERTY, WHICH IS REPAIRED, IMPROVED OR
 RECONSTRUCTED  TO  REPAIR  DAMAGE  CAUSED BY SUPERSTORM SANDY AND COMPLY
 WITH STATE AND LOCAL BUILDING CODES AND HEIGHT  RESTRICTIONS,  SHALL  BE
 ASSESSED  AT AND THE TOTAL ASSESSED VALUE THEREOF SHALL BE A VALUE WHICH
 IS EQUAL TO THE IMPROVED VALUE OF SUCH REAL PROPERTY PRIOR TO THE DAMAGE
 CAUSED BY SUPERSTORM SANDY, AND NOT THE FULL VALUE OF SUCH PROPERTY.
   § 2. This act shall take effect immediately and  shall  apply  to  tax
 rolls issued on or after such date.
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11602-01-7

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