NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A5671
SPONSOR: Rosenthal TITLE OF BILL: An act to amend the real property tax law, in relation
to the creation of a vacant land property classification
PURPOSE OR GENERAL IDEA OF BILL: This bill creates a tax class for
vacant properties in order to discourage the holding of land and to
generate new revenues.
SUMMARY OF SPECIFIC PROVISIONS: Subdivision 1 of section 1802 of the
real property tax law is amended by adding a new tax class five, which
applies to real property which has remained vacant for a period of nine-
ty days or longer during a tax year and is not under construction or
rehabilitation.
JUSTIFICATION: In 2007, the Office of the Manhattan Borough President
released the first ever vacant property survey of the borough. The
results of the survey found more than 2,228 vacant properties. The
existing tax structure allows owners to hold properties for speculation
without penalty. Not only does this practice negatively impact the imme-
diate neighborhood, it also reduces the borough and city's available
housing supply. With the great need for affordable housing in New York
City, we must take steps to increase the supply. This bill creates a
clear disincentive to owners to leave a deteriorated building to further
deteriorate or to fail to develop an empty lot.
PRIOR LEGISLATIVE HISTORY: This is a new bill.
FISCAL IMPLICATIONS: Undetermined.
EFFECTIVE DATE: This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
5671
2009-2010 Regular Sessions
IN ASSEMBLY
February 17, 2009
___________
Introduced by M. of A. ROSENTHAL -- read once and referred to the
Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the creation
of a vacant land property classification
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph class four of subdivision 1 of section 1802 of
2 the real property tax law, as separately amended by chapters 123 and 529
3 of the laws of 1990, is amended and a new paragraph class five is added
4 to read as follows:
5 Class four: all other real property which is not designated as class
6 one, class two, [or] class three or class five.
7 Class five: real property which has remained vacant for a period of
8 ninety days or longer during a tax year and is not under
9 construction or rehabilitation.
10 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06112-01-9
