NY State Senate Bill 2021-S4038

Senate Bill S4038

2021-2022 Legislative Session

Provides that in proceedings to review real property assessments in N.Y. city assessing method, capitalization rate, etc. must be disclosed

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

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to local government
Feb 01, 2021	referred to local government

2021-S4038 (ACTIVE) - Details

See Assembly Version of this Bill:: A4042
Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Amd §714, RPT L
Versions Introduced in Other Legislative Sessions:: 2009-2010: A1492
2011-2012: A4512
2013-2014: A2927
2015-2016: A3952
2017-2018: A7271
2019-2020: S7594, A3242
2023-2024: S2460

2021-S4038 (ACTIVE) - Summary

Provides that in judicial proceedings to review real property assessments in cities of one million or more inhabitants, the assessing method, capitalization rate, and other data or formula used to determine valuation must be disclosed to the petitioner.

2021-S4038 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S4038

SPONSOR: COMRIE
 
TITLE OF BILL:

An act to amend the real property tax law, in relation to requiring the
disclosure to the petitioner of the assessing method, capitalization
rate, and certain other information used to determine valuation by the
respondent in a judicial proceeding brought to review an assessment of
real property in a city having a population of one million or more

 
PURPOSE OR GENERAL IDEA OF BILL:

To provide real property taxpayers with full disclosure of the method of
assessment of their property.

 
SUMMARY OF SPECIFIC PROVISIONS:

This bill would amend Section 714(2) of the Real Property Tax Law to
require New York City to disclose to petitioners in proceedings to
review their assessments the assessing method used, any capitalization
rate used and any other data or formula used to determine the valuation

of the real property. Such disclosure would be made upon the filing of
an answer or notice of objection in such case by the respondent City.

 
JUSTIFICATION:

The greater disclosure of assessment methods and capitalization rates
used to determine the value of real property would make the assessment
process more transparent and less likely to be subject to abuse. Without
a doubt, the more understandable the assessment process is to the
taxpaying public, the more confidence there will be in this critical
form of taxation. This bill would add a small measure of disclosure to a
secretive process that currently erodes such confidence.

 
PRIOR LEGISLATIVE HISTORY:

2017-2018: A.7271.

 
FISCAL IMPLICATIONS:

None to the State.

 
EFFECTIVE DATE:
This act shall take effect in thirty days following enactment, and
applies to proceedings commenced.or pending after such date.  Provision
is made for extending time in pending proceedings.

2021-S4038 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4038
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2021
                                ___________
 
 Introduced  by  Sen.  COMRIE -- 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 requiring  the
   disclosure  to  the petitioner of the assessing method, capitalization
   rate, and certain other information used to determine valuation by the
   respondent in a judicial proceeding brought to review an assessment of
   real property in a city having a population of one million or more
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision 2 of section 714 of the real property tax law
 is amended to read as follows:
   2.  If the respondent has not served an answer or moved to dismiss the
 petition prior to the service of a note of issue, except as hereinbefore
 provided, in order to raise an objection to the sufficiency of the peti-
 tion or assert an affirmative defense upon the hearing, he OR  SHE  must
 serve  upon the petitioner within forty days after the service of a note
 of issue, a  notice  containing  a  statement  of  the  nature  of  such
 objection  or such defense, unless for good cause the time to serve such
 notice is extended by the court or a justice thereof,  on  an  order  to
 show  cause.   Unless the petitioner and respondent stipulate in writing
 for a hearing at an earlier date, no hearing shall  be  held  less  than
 thirty  days  after  service  of  such notice upon the petitioner.   THE
 ANSWER OR NOTICE SERVED PURSUANT TO THE PROVISIONS OF  THIS  SUBDIVISION
 SHALL  DISCLOSE THE ASSESSING METHOD USED, ANY CAPITALIZATION RATE USED,
 AND ANY OTHER DATA OR FORMULA USED TO DETERMINE  THE  VALUATION  OF  THE
 REAL PROPERTY.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law and shall apply to proceedings commenced or pending on
 or after its effective date, and, in addition,  the  disclosure  of  the
 information  required  to be disclosed by the amendment made to subdivi-
 sion 2 of section 714 of the real property tax law  by  section  one  of
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD03698-01-1

 S. 4038                             2
 
 this  act  shall,  if  the  time  for  such  disclosure  pursuant to the
 provisions of such subdivision 2 has passed in a proceeding  pending  on
 the effective date of this act, be made within thirty days of the effec-
 tive  date  of  this act, and the petitioner shall have a continuance of
 thirty days from receipt thereof to review such disclosures  and  submit
 or  modify  such  documents  or other evidence, or make such motions, as
 such disclosures may prompt.

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