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A09103 Summary:

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A09103 Floor Votes:

A09103 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         9103--C
 
                   IN ASSEMBLY
 
                                    January 20, 2012
                                       ___________
 
        Introduced  by M. of A. FINCH -- read once and referred to the Committee
          on Real Property  Taxation  --  committee  discharged,  bill  amended,
          ordered  reprinted  as  amended  and  recommitted to said committee --
          again reported from said committee with amendments, ordered  reprinted
          as  amended  and  recommitted to said committee -- again reported from

          said committee with  amendments,  ordered  reprinted  as  amended  and
          recommitted to said committee
 
        AN  ACT to amend the real property tax law, in relation to a partial tax
          exemption for reconstruction, alteration or improvement of residential
          structures in cities with a certain population
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  The  real  property  tax  law  is amended by adding a new
     2  section 421-ff to read as follows:
     3    § 421-ff. Exemption of capital improvements to  residential  buildings
     4  in  cities  with a population between twenty-seven thousand five hundred
     5  and twenty-eight thousand  based  upon  the  two  thousand  ten  federal
     6  census.  1. Residential buildings which have been reconstructed, altered

     7  or improved subsequent to the effective date of a local law pursuant  to
     8  this section shall be exempt from taxation and special ad valorem levies
     9  to  the  extent provided hereinafter in cities with a population between
    10  twenty-seven thousand five hundred and twenty-eight thousand based  upon
    11  the  two  thousand  ten  federal  census.  For purposes of this section,
    12  "reconstruction", "alteration" or "improvement" shall not include  ordi-
    13  nary  maintenance  and  repairs.  After  a public hearing, the governing
    14  board of a city with such a population may adopt a local  law  to  grant
    15  the  exemption authorized pursuant to this section. A copy of such local
    16  law shall be filed with the commissioner and the assessor of  such  city

    17  who  prepares  the  assessment  roll on which the taxes of such city are
    18  levied.
    19    2. Such buildings shall be exempt for a period of  two  years  to  the
    20  extent of one hundred per centum of the increase in assessed value ther-
    21  eof attributable to such reconstruction, alterations or improvements and
    22  for an additional period of four years subject to the following:
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10226-10-2
        A. 9103--C                          2
 
     1    (a)  The  extent  of  such  exemption shall be decreased by twenty per

     2  centum of the "exemption base" each year during  such  additional  four-
     3  year  period, such that during year three there shall be an exemption of
     4  eighty per centum of the increase in assessed  value  thereof  attribut-
     5  able,  during  year four there shall be an exemption of sixty per centum
     6  of the increase in assessed value thereof  attributable,  in  year  five
     7  there  shall  be  an  exemption  of  forty per centum of the increase in
     8  assessed value thereof attributable and in year six there  shall  be  an
     9  exemption of twenty per centum of the increase in assessed value thereof
    10  attributable; and
    11    (b)  The  "exemption base" shall be the increase in assessed value due
    12  to improvements as determined by the assessor in  the  initial  year  of

    13  such six-year period following the filing of an original application.
    14    3.  There  shall be enhanced benefits for improvement to real property
    15  meeting certification standards for green buildings.   Such  residential
    16  real  property  that has been reconstructed, altered or improved that is
    17  certified under a certification standard approved by the city  which  is
    18  determined  to  be  equivalent  to the leadership in energy and environ-
    19  mental   design   (LEED)   certification   for   the    categories    of
    20  certified/silver,  gold  or platinum as meeting green building standards
    21  shall be exempt for the following percentages, provided that a  copy  of
    22  the certification for a qualified category is filed with the assessor of

    23  such  city  and the assessor approves the application for the applicable
    24  category as meeting the requirements of this section and the  local  law
    25  of such city:
    26    (a)  Certified/silver  certification standard. Such buildings shall be
    27  exempt for a period of three years to the  extent  of  one  hundred  per
    28  centum  of  the  increase in assessed value thereof attributable to such
    29  reconstruction, alteration or improvement and for an  additional  period
    30  of four years.  The extent of such exemption shall be decreased by twen-
    31  ty  per  centum of the "exemption base" each year during such additional
    32  four-year period such that during year four there shall be an  exemption
    33  of eighty per centum of the increase in assessed value thereof attribut-

    34  able,  during  year five there shall be an exemption of sixty per centum
    35  of the increase in assessed value  thereof  attributable,  in  year  six
    36  there  shall  be  an  exemption  of  forty per centum of the increase in
    37  assessed value thereof attributable and in year seven there shall be  an
    38  exemption of twenty per centum of the increase in assessed value thereof
    39  attributable.    The  "exemption base" shall be the increase in assessed
    40  value due to improvements as determined by the assessor in  the  initial
    41  year  of  such  seven-year  period  following  the filing of an original
    42  application;
    43    (b) Gold standard. Such buildings shall be exempt for a period of four
    44  years to the extent of  one  hundred  per  centum  of  the  increase  in

    45  assessed  value  thereof attributable to such reconstruction, alteration
    46  or improvement and for an additional period of four years. The extent of
    47  such exemption shall be decreased by twenty per centum of the "exemption
    48  base" each year during such additional four-year period such that during
    49  year five there shall be an  exemption  of  eighty  per  centum  of  the
    50  increase  in  assessed value thereof attributable, during year six there
    51  shall be an exemption of sixty per centum of the  increase  in  assessed
    52  value thereof attributable, in year seven there shall be an exemption of
    53  forty  per centum of the increase in assessed value thereof attributable
    54  and in year eight there shall be an exemption of twenty  per  centum  of

    55  the  increase  in  assessed  value  thereof attributable. The "exemption
    56  base" shall be the increase in assessed value  due  to  improvements  as
        A. 9103--C                          3
 
     1  determined by the assessor in the initial year of such eight-year period
     2  following the filing of an original application; or
     3    (c)  Platinum standard. Such buildings shall be exempt for a period of
     4  six years to the extent of one hundred per centum  of  the  increase  in
     5  assessed  value  thereof attributable to such reconstruction, alteration
     6  or improvement and for an additional period of four years. The extent of
     7  such exemption shall be decreased by twenty per centum of the "exemption

     8  base" each year during such additional four-year period such that during
     9  year seven there shall be an exemption  of  eighty  per  centum  of  the
    10  increase in assessed value thereof attributable, during year eight there
    11  shall  be  an  exemption of sixty per centum of the increase in assessed
    12  value thereof attributable, in year nine there shall be an exemption  of
    13  forty  per centum of the increase in assessed value thereof attributable
    14  and in year ten there shall be an exemption of twenty per centum of  the
    15  increase  in  assessed value thereof attributable.  The "exemption base"
    16  shall be the increase in assessed value due to  improvements  as  deter-
    17  mined  by  the  assessor  in  the  initial  year of such ten-year period

    18  following the filing of an original application.
    19    4. Exemptions granted pursuant to this section  shall  apply  to  real
    20  property taxes imposed for city purposes.
    21    5. No such exemption shall be granted unless:
    22    (a)  Such  reconstruction,  alteration  or  improvement  was commenced
    23  subsequent to the effective date of the local law or resolution  adopted
    24  pursuant to subdivision one of this section;
    25    (b)  The  value  of  such  reconstruction,  alteration  or improvement
    26  exceeds the sum of seventy-five hundred dollars; and
    27    (c) Such reconstruction, alteration or improvement is documented by  a
    28  building  permit, if required, for the improvements or other appropriate
    29  documentation as required by the city assessor.

    30    6. Such exemption shall be granted only upon application by the  owner
    31  of such building on a form prescribed by the commissioner. Such applica-
    32  tion shall be filed with the assessor of a city with a population of not
    33  less  than  twenty-seven thousand five hundred and not more than twenty-
    34  eight thousand on or before the appropriate taxable status date of  such
    35  city  and  within  one  year after the date of completion of such recon-
    36  struction, alteration or improvement.
    37    7. If satisfied that the applicant is entitled to an exemption  pursu-
    38  ant to this section, the city assessor shall approve the application and
    39  such  building  shall  thereafter be exempt from taxation and special ad

    40  valorem levies by the city as provided in this section  commencing  with
    41  the  assessment  roll  prepared  on the basis of the taxable status date
    42  referred to in subdivision six of this section. The assessor shall enter
    43  the assessed value of any exemption granted pursuant to this section  on
    44  the  assessment  roll  for  the taxable property, with the amount of the
    45  exemption shown in a separate column. In any  case  where  there  is  an
    46  enhanced exemption benefit based on a certification of certified/silver,
    47  gold  or  platinum  LEED standards in accordance with applicable certif-
    48  ication standards approved by the city, a  copy  of  such  certification
    49  shall be filed in the subject real property file.

    50    8.  In  the  event that real property granted an exemption pursuant to
    51  this section ceases to be used primarily for residential  purposes,  the
    52  exemption granted pursuant to this section shall cease.
    53    § 2. This act shall take effect immediately.