Partially exempts from taxation any multiple dwelling building converted to an owner occupied single family dwelling or that is reduced to at most two units within certain cities; such buildings shall be exempt for a period of one year to the extent of fifty percent of the value of the property after the completion of renovations, reduced by five percent per year for nine years.
STATE OF NEW YORK
________________________________________________________________________
4020
2009-2010 Regular Sessions
IN SENATE
April 7, 2009
___________
Introduced by Sen. WINNER -- read twice and ordered printed, and when
printed to be committed to the Committee on Housing, Construction and
Community Development
AN ACT to amend the real property tax law, in relation to exemption of
capital improvements to multiple dwelling buildings in certain cities
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-l to read as follows:
3 § 421-l. Exemption of capital improvements to multiple dwelling build-
4 ings within certain cities. 1. Multiple dwelling buildings, recon-
5 structed, altered, converted back to an owner occupied single family
6 dwelling or any owner occupied multiple dwelling located in any city
7 having a population of: (a) more than thirty thousand nine hundred
8 inhabitants but less than thirty-one thousand inhabitants; (b) more than
9 nine thousand ten inhabitants but less than nine thousand twenty inhab-
10 itants; or (c) more than ten thousand eight hundred forty inhabitants
11 but less than ten thousand eight hundred fifty inhabitants, determined
12 in accordance with the latest federal decennial census, that is reduced
13 to at most two units by such reconstruction subsequent to the effective
14 date of a local law pursuant to this section shall be exempt from taxa-
15 tion and special ad valorem levies to the extent provided hereinafter.
16 After a public hearing, the governing board of such city may adopt a
17 local law to grant the exemption authorized pursuant to this section. A
18 copy of such local law shall be filed with the state board and the
19 assessor of such city who prepares the assessment roll on which the
20 taxes of such city are levied.
21 2. (a) Such buildings within such city shall be exempt for a period of
22 one year to the extent of fifty percent of the value of the property
23 after the completion of such reconstruction, alteration or improvement
24 and for an additional period of nine years subject to the following:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11041-01-9
S. 4020 2
1 (i) The extent of such exemption shall be decreased by five percent of
2 the value of the property after the completion of such reconstruction,
3 alteration or improvement each year during such additional period.
4 (ii) Such exemption shall be limited to one hundred thousand dollars,
5 but not less than ten thousand dollars as may be provided by the local
6 law or resolution, of the value of the property after the completion of
7 such reconstruction, alteration or improvement.
8 (b) No such exemption shall be granted for reconstruction, alterations
9 or improvements unless:
10 (i) such reconstruction, alteration or converted improvement was
11 commenced subsequent to the effective date of the local law adopted
12 pursuant to subdivision one of this section by such city; and
13 (ii) the value of such reconstruction, alteration or improvement
14 exceeds five thousand dollars; and
15 (iii) the greater portion, as so determined by square footage, of the
16 building reconstructed, altered or improved is at least five years old.
17 (c) For purposes of this section the terms reconstruction, alteration
18 and improvement shall not include ordinary maintenance and repairs.
19 3. Such exemption shall be granted only upon application by the owner
20 of such building on a form prescribed by the state board. The applica-
21 tion shall be filed with the assessor of such city on or before the
22 appropriate taxable status date of such city.
23 4. If satisfied that the applicant is entitled to an exemption pursu-
24 ant to this section, the assessor shall approve the application and such
25 building shall thereafter be exempt from taxation and special ad valorem
26 levies as provided in this section commencing with the assessment roll
27 prepared on the basis of the taxable status date referred to in subdivi-
28 sion three of this section. The assessed value of any exemption granted
29 pursuant to this section shall be entered by the assessor on the assess-
30 ment roll with the taxable property, with the amount of the exemption
31 shown in a separate column.
32 5. For the purposes of this section, an owner occupied multiple dwell-
33 ing building shall mean any building or structure designed and occupied
34 as the temporary or permanent residence or home of two or more families,
35 including the owner of such building.
36 6. In the event that a building granted an exemption pursuant to this
37 section ceases to be used primarily for residential purposes or title
38 thereto is transferred to other than the heirs or distributees of the
39 owner, the exemption granted pursuant to this section shall cease.
40 7. (a) The enactment of a local law in such city may:
41 (i) reduce the percent of exemption otherwise allowed pursuant to this
42 section;
43 (ii) limit eligibility for the exemption to those forms of recon-
44 struction, alterations or improvements as are prescribed in such local
45 law or resolution.
46 (b) No such local law shall reduce or repeal an exemption granted
47 pursuant to this section until the expiration of the period for which
48 such exemption was granted.
49 § 2. This act shall take effect on the first of January next succeed-
50 ing the date on which it shall have become a law.
