Relates to exemption from taxation of alterations and improvements to multiple dwellings by expanding certain provisions to include cities where the multiple residence law is applicable.
STATE OF NEW YORK
________________________________________________________________________
6138
2019-2020 Regular Sessions
IN ASSEMBLY
February 28, 2019
___________
Introduced by M. of A. FITZPATRICK, TAGUE, GIGLIO, SALKA, MIKULIN --
Multi-Sponsored by -- M. of A. BARCLAY, CROUCH, HAWLEY, MANKTELOW,
McDONOUGH, THIELE -- read once and referred to the Committee on Real
Property Taxation
AN ACT to amend the real property tax law, in relation to exemption from
taxation of alterations and improvements to multiple dwellings
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The opening paragraph of paragraph (a) of subdivision 1 of
2 section 489 of the real property tax law, as amended by section 19 of
3 part A of chapter 20 of the laws of 2015, is amended to read as follows:
4 Any city to which the multiple dwelling law or the multiple residence
5 law is applicable, acting through its local legislative body or other
6 governing agency, is hereby authorized and empowered, to and including
7 January first, two thousand nineteen, to adopt and amend local laws or
8 ordinances providing that any increase in assessed valuation of real
9 property shall be exempt from taxation for local purposes, as provided
10 herein, to the extent such increase results from:
11 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD05736-01-9