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A03952 Summary:

Amd S714, RPT L
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.
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A03952 Text:

                STATE OF NEW YORK
                               2015-2016 Regular Sessions
                   IN ASSEMBLY
                                    January 28, 2015
        Introduced by M. of A. WRIGHT -- read once and referred to the Committee
          on Real Property Taxation
        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:
     1    Section 1. Subdivision 2 of section 714 of the real property  tax  law
     2  is amended to read as follows:
     3    2.  If the respondent has not served an answer or moved to dismiss the
     4  petition prior to the service of a note of issue, except as hereinbefore
     5  provided, in order to raise an objection to the sufficiency of the peti-
     6  tion  or  assert an affirmative defense upon the hearing, he or she must
     7  serve upon the petitioner within forty days after the service of a  note
     8  of  issue,  a  notice  containing  a  statement  of  the  nature of such
     9  objection or such defense, unless for good cause the time to serve  such
    10  notice  is  extended  by  the court or a justice thereof, on an order to
    11  show cause.  Unless the petitioner and respondent stipulate  in  writing
    12  for  a  hearing  at  an earlier date, no hearing shall be held less than
    13  thirty days after service of such  notice  upon  the  petitioner.    The
    14  answer  or  notice served pursuant to the provisions of this subdivision
    15  shall disclose the assessing method used, any capitalization rate  used,
    16  and  any  other  data  or formula used to determine the valuation of the
    17  real property.
    18    § 2. This act shall take effect on the thirtieth day  after  it  shall
    19  have become a law and shall apply to proceedings commenced or pending on
    20  or  after  its  effective  date, and, in addition, the disclosure of the
    21  information required to be disclosed by the amendment made  to  subdivi-
    22  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.

        A. 3952                             2
     1  this act shall,  if  the  time  for  such  disclosure  pursuant  to  the
     2  provisions  of  such subdivision 2 has passed in a proceeding pending on
     3  the effective date of this act, be made within thirty days of the effec-
     4  tive  date  of  this act, and the petitioner shall have a continuance of
     5  thirty days from receipt thereof to review such disclosures  and  submit
     6  or  modify  such  documents  or other evidence, or make such motions, as
     7  such disclosures may prompt.
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