New York State Assembly

 
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A04752 Summary:

A04752 Actions:

A04752 Committee Votes:

Committee:REAL PROPERTY TAXATION   Chair:Galef      
DATE:04/30/2019AYE/NAY:9/0  Action: Favorable refer to committee Ways and Means        
Galef
Aye
Miller
Aye
McDonald
Aye
Tague
Aye
Pichardo
Aye
Dickens
Aye
Barnwell
Aye
Rosenthal
Aye
Sayegh
Absent
Eichenstein
Aye

Committee:WAYS AND MEANS   Chair:Weinstein      
DATE:05/30/2019AYE/NAY:31/0  Action: Favorable         
Weinstein
Aye
Barclay
Aye
Lentol
Aye
Crouch
Aye
Schimminger
Aye
Fitzpatrick
Aye
Gantt
Excused
Hawley
Aye
Glick
Aye
Malliotakis
Aye
Nolan
Excused
Montesano
Excused
Pretlow
Aye
Ra
Aye
Perry
Aye
Blankenbush
Aye
Colton
Aye
Palmesano
Aye
Cook
Aye
Norris
Aye
Cahill
Aye
Aubry
Aye
Thiele
Aye
Cusick
Excused
Ortiz
Aye
Benedetto
Aye
Weprin
Aye
Rodriguez
Aye
Ramos
Aye
Braunstein
Aye
McDonald
Aye
Rozic
Aye
Simotas
Aye
Dinowitz
Aye
Miller
Aye

A04752 Floor Votes:

A04752 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         4752--C
                                                                Cal. No. 181
 
                               2019-2020 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 5, 2019
                                       ___________
 
        Introduced  by M. of A. ZEBROWSKI, WOERNER, GALEF, BRABENEC -- read once
          and referred to the Committee on Real Property Taxation  --  committee
          discharged, bill amended, ordered reprinted as amended and recommitted
          to  said  committee  -- reported and referred to the Committee on Ways
          and Means -- committee discharged, bill amended, ordered reprinted  as
          amended  and recommitted to said committee -- ordered to a third read-
          ing, amended and ordered reprinted, retaining its place on  the  order
          of third reading
 
        AN  ACT  to  amend  the  real property tax law, in relation to requiring
          assessors using the comparable sales, income  capitalization  or  cost
          method  for  assessments  to consider certain comparable properties in
          formulating the assessment
 
          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 305-a to read as follows:
     3    § 305-a. Assessment using the comparable sales, income  capitalization
     4  or  cost  method.  When  determining  the  value of a property using the
     5  comparable sales, income capitalization or cost  method,  the  following
     6  shall be considered when selecting appropriate sales or rentals compara-
     7  ble to the subject property:
     8    1.  sales  or  rentals of properties exhibiting similar current use or
     9  the use at the time of sale in the  same  real  estate  market  segment.
    10  Comparable  properties  should  include  properties located in proximate
    11  location to the subject property unless there is an inadequate number of
    12  appropriate sales or rentals within the same market segment; and
    13    2. sales or rentals of properties that are similar in age,  condition,
    14  current  use  or  the  use  at  the  time of sale, type of construction,
    15  location, design, physical features and economic characteristics includ-
    16  ing similarities in occupancy and income generating potential.
    17    § 2. This act shall take effect immediately and shall apply to assess-
    18  ment rolls prepared on or after January 1, 2021.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07560-09-0