Assembly Bill A10739

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10739
 
                           I N  A S S E M B L Y
 
                               July 8, 2020
                                ___________
 
 Introduced by COMMITTEE ON RULES -- (at request of M. of A. Jean-Pierre)
   -- read once and referred to the Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to the assessment
   of  certain real property damaged by the severe storm that occurred on
   October twenty-ninth and thirtieth, two thousand twelve in  a  special
   assessing unit that is not a city

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (b) of subdivision 2 of  section  1805-b  of  the
 real  property  tax law, as added by chapter 411 of the laws of 2015, is
 amended to read as follows:
   (b) "Aggregate physical increase" means the sum of physical  increases
 for  assessment  rolls  completed from two thousand fourteen through two
 thousand [twenty] TWENTY-TWO.
   § 2. Paragraph (b) of subdivision 3 of  section  1805-b  of  the  real
 property  tax  law,  as  added  by  chapter  411 of the laws of 2015, is
 amended to read as follows:
   (b) the assessor increased the assessed value attributable to improve-
 ments on the property by means of a physical increase for an  assessment
 roll  completed from two thousand fourteen through two thousand [twenty]
 TWENTY-TWO.
   § 3. Subdivision 4 of section 1805-b of the real property tax law,  as
 added by chapter 411 of the laws of 2015, is amended to read as follows:
   4. Limitation on increases of assessed value. Notwithstanding subdivi-
 sion five of section eighteen hundred five of this article and any other
 provision  to  the contrary, increases in the assessed value of affected
 real property shall be limited in the manner specified in this  subdivi-
 sion.
   (a)  Except  as  provided  in  paragraph  (c) of this subdivision, for
 affected real property for which the assessed values on  the  assessment
 rolls completed in two thousand fourteen and two thousand fifteen do not
 reflect  a  physical  increase,  the  amount  of  the aggregate physical
 increase shall not exceed the amount of the physical decrease  reflected
 in  the  assessed value on the assessment roll completed in two thousand
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD16851-01-0

 A. 10739                            2
 
 thirteen. Any increase in assessed value  from  the  preceding  year  in
 excess of the physical increase reflected in the current assessed value,
 such  physical  increase  limited as provided in the preceding sentence,
 shall  be  subject  to the limitations on increases provided in subdivi-
 sions one, two and three of section eighteen hundred five of this  arti-
 cle.  In no event shall the assessed value of the affected real property
 appearing on an assessment roll completed for any given  year  from  two
 thousand  fifteen  to  two  thousand [twenty] TWENTY-TWO exceed what the
 assessed value would have been that year but for any physical  decreases
 or physical increases reflected in the assessed values on the assessment
 rolls  completed  from  two  thousand  thirteen to two thousand [twenty]
 TWENTY-TWO.
   (b) For affected real property for which the  assessed  value  on  the
 assessment  roll  completed  in  two  thousand  fourteen or two thousand
 fifteen reflects a physical increase, the assessed value as it  appeared
 on the assessment roll completed in two thousand fifteen shall be recal-
 culated  as  if  the limitation in paragraph (a) of this subdivision had
 been in effect for the assessment rolls completed in two thousand  four-
 teen  and  two thousand fifteen. The recalculation of the assessed value
 that appeared on the assessment roll completed in two  thousand  fifteen
 shall  not  affect the amount of taxes that were due and payable for the
 fiscal year beginning on the first of July, two thousand  fourteen.  The
 assessed  value  on the assessment rolls completed for each of the years
 from two thousand sixteen to two thousand [twenty] TWENTY-TWO  shall  be
 subject to the limitation on increases provided in paragraph (a) of this
 subdivision. Notwithstanding any provision to the contrary, the assessor
 is  authorized  to  correct  as  provided in this paragraph the assessed
 value of  affected  real  property  appearing  on  the  assessment  roll
 completed  in  two  thousand  fifteen.  Such correction shall be made no
 later than ninety days after the effective date of a local  law  adopted
 in accordance with this section.
   (c) Notwithstanding paragraphs (a) and (b) of this subdivision, in the
 event  that the total square footage of the improvements on the affected
 real property appearing on any assessment roll completed from two  thou-
 sand  fourteen  to  two  thousand  [twenty] TWENTY-TWO exceeds the total
 square footage of the improvements on  the  property  appearing  on  the
 assessment  roll  completed  in  two  thousand twelve, the amount of the
 aggregate physical increase shall not  exceed  the  amount  computed  by
 multiplying  the  sum of the physical increases as calculated subject to
 this subdivision by a fraction, the numerator of which is equal  to  the
 amount  of  the total square footage of the improvements on the property
 for the current assessment roll, and the denominator of which  is  equal
 to  the  amount  of  the total square footage of the improvements on the
 property for the assessment roll completed in two thousand  twelve.  For
 purposes  of  this  paragraph,  if  improvements on the property located
 below grade were not  included  in  the  total  square  footage  of  the
 improvements  on  the  property for the assessment roll completed in two
 thousand twelve, such improvements shall not be included  in  the  total
 square  footage for subsequent assessment rolls if the improvements were
 moved above grade or other building elevations were constructed  on  the
 property  to  prevent  or mitigate flooding as part of reconstruction or
 repair in connection with the damage caused by  the  severe  storm  that
 occurred  on  the  twenty-ninth  and  thirtieth of October, two thousand
 twelve.
   § 4. This act shall take effect immediately.