A02053 Summary:

BILL NO    A02053 

SAME AS    No same as 

SPONSOR    Quart

COSPNSR    Robinson

MLTSPNSR   Mosley

Amd S581, RPT L

Requires real property in New York City to be assessed using a fair
comparative.
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A02053 Actions:

BILL NO    A02053 

01/15/2015 referred to real property taxation
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A02053 Text:

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

                                         2053

                              2015-2016 Regular Sessions

                                 I N  A S S E M B L Y

                                   January 15, 2015
                                      ___________

       Introduced  by M. of A. QUART -- read once and referred to the Committee
         on Real Property Taxation

       AN ACT to amend the real property tax law, in relation to requiring real
         property to be assessed using a fair comparative

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

    1    Section  1.  Paragraph (a) of subdivision 1 of section 581 of the real
    2  property tax law, as amended by chapter 223 of  the  laws  of  1989,  is
    3  amended to read as follows:
    4    (a) Notwithstanding any other provision of law, real property owned or
    5  leased  by  a cooperative corporation or on a condominium basis shall be
    6  assessed for purposes of this chapter at a sum not exceeding the assess-
    7  ment which would be placed upon such parcel were the parcel not owned or
    8  leased by a cooperative corporation or on  a  condominium  basis.  IN  A
    9  SPECIAL  ASSESSING UNIT THAT IS A CITY, NOTHING IN THIS SECTION SHALL BE
   10  CONSTRUED TO REQUIRE THE USE OF RENT-REGULATED PROPERTIES AS  COMPARISON
   11  PROPERTIES  FOR  ASSESSMENT  PURPOSES. FOR THE PURPOSE OF THIS PARAGRAPH
   12  ONLY, THE TERM "RENT-REGULATED PROPERTIES" SHALL MEAN  HOUSING  ACCOMMO-
   13  DATIONS  WHICH ARE SUBJECT TO THE REGULATIONS AND CONTROL OF RESIDENTIAL
   14  RENTS AND EVICTIONS PURSUANT TO THE EMERGENCY HOUSING RENT CONTROL  LAW,
   15  THE  LOCAL  EMERGENCY  HOUSING  RENT  CONTROL  ACT, THE EMERGENCY TENANT
   16  PROTECTION ACT OF NINETEEN SEVENTY-FOUR, THE  NEW  YORK  CITY  RENT  AND
   17  REHABILITATION  LAW OR THE NEW YORK CITY RENT STABILIZATION LAW OF NINE-
   18  TEEN HUNDRED SIXTY-NINE. FOR THE PURPOSE OF  THIS  PARAGRAPH  ONLY,  THE
   19  TERM  "COMPARISON PROPERTIES" SHALL MEAN ANY REAL PROPERTY CONSIDERED BY
   20  AN ASSESSOR TO BE SUFFICIENTLY SIMILAR  TO  A  SUBJECT  PROPERTY  TO  BE
   21  COMPARED TO IT TO DETERMINE THE SUBJECT PROPERTY'S ASSESSMENT.
   22    S 2. This act shall take effect immediately.


        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD04500-01-5
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