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A09170 Summary:

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A09170 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9170
 
                   IN ASSEMBLY
 
                                     March 25, 2014
                                       ___________
 
        Introduced  by M. of A. QUART -- read once and referred to the Committee
          on Real Property Taxation
 
        AN ACT to amend the administrative code of the  city  of  New  York,  in
          relation  to requiring assessment-rolls to be published on the depart-
          ment of finance website
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 

     1    Section  1. The administrative code of the city of New York is amended
     2  by adding a new section 11-218.1 to read as follows:
     3    § 11-218.1 Assessment-rolls;  publication.  a.  The  commissioner   of
     4  finance  shall publish the assessment-rolls on the department of finance
     5  website in such a manner as to allow visitors to the website  to  search
     6  for information contained within such assessment-rolls.
     7    b. The commissioner of finance shall publish information regarding how
     8  a property assessment is derived on the department of finance website in
     9  a searchable database.
    10    c.  The  assessment-rolls  and online searchable database published in
    11  accordance with this section shall, at a minimum, contain the  following
    12  information:

    13    (1)  property  information,  including  address,  block,  lot, and tax
    14  class;
    15    (2) a list of the comparable properties that the assessors  have  used
    16  for assessment for class one and two properties;
    17    (3)  the  base and overall capitalization rates for class four proper-
    18  ties;
    19    (4) the fair market value;
    20    (5) the target assessment ratio;
    21    (6) the actual assessed value, as determined by multiplying  the  fair
    22  market value by the target assessment ratio;
    23    (7) whether an assessment cap or transitional assessment process is in
    24  use,  and  the percentage of such cap or the length of time used for the
    25  transition;
    26    (i) the assessed value with the cap or transition;
 

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10199-03-3
        A. 9170                             2
 
     1    (ii) a list of applicable exemptions and the amount of each exemption.
     2  Each exemption should be linked to a full description of the exemption;
     3    (iii) the taxable assessed value;
     4    (iv) the nominal tax rate;
     5    (v)  the  base tax liability, as determined by multiplying the taxable
     6  assessed value by the nominal tax rate;
     7    (vi) a list of abatements applied and the amount  of  each  abatement.
     8  Each abatement should be linked to a full description of the abatement;

     9    (vii) the final tax bill; and
    10    (viii) the effective tax rate, as determined by dividing the final tax
    11  bill by the fair market value.
    12    §  2.  This  act  shall  take effect on the two hundred seventieth day
    13  after it shall have become a law.