Brennan, Colton, DenDekker, Gottfried, Miller, Nolan, Perry
Add S467-h, RPT L
Authorizes cities having a population of one million or more to grant a partial real property tax abatement, during the 2014 - 2015 fiscal year, for certain residential property damaged in a severe storm on October 29 - 30, 2012 and subsequently repaired.
STATE OF NEW YORK
________________________________________________________________________
9578
IN ASSEMBLY
May 8, 2014
___________
Introduced by M. of A. SILVER, GOLDFEDER, BROOK-KRASNY, CYMBROWITZ,
CUSICK, ORTIZ, TITUS, BENEDETTO, GLICK, TITONE, WEINSTEIN, CLARK,
WEPRIN, JACOBS -- Multi-Sponsored by -- M. of A. BRENNAN, COLTON,
DenDEKKER, GOTTFRIED, MILLER, NOLAN, PERRY -- read once and referred
to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to establishing a
partial abatement of real property taxes on real property that was
rebuilt after being seriously damaged by the severe storm that
occurred on the twenty-ninth and thirtieth of October, two thousand
twelve in a city having a population of one million or more
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 467-h to read as follows:
3 § 467-h. Partial abatement for certain rebuilt real property seriously
4 damaged by the severe storm that occurred on the twenty-ninth and thir-
5 tieth of October, two thousand twelve in a city having a population of
6 one million or more. 1. Generally. Notwithstanding any provision of any
7 general, special or local law to the contrary, any city having a popu-
8 lation of one million or more is hereby authorized and empowered to
9 adopt and amend local laws in accordance with this section to grant a
10 partial abatement of real property taxes for the fiscal year beginning
11 on the first of July, two thousand fourteen, in the amount provided in
12 this section to eligible real property as defined in subdivision three
13 of this section on the first of July, two thousand fourteen. If legal
14 title to eligible real property is held by one or more trustees, the
15 beneficial owner or owners shall be deemed to own the property for
16 purposes of this section. Notwithstanding any provision of this article
17 to the contrary, a property that is receiving benefits pursuant to any
18 other section of this article shall not be prohibited from receiving a
19 partial abatement pursuant to this section if such property is otherwise
20 eligible to receive such abatement.
21 2. Definitions. As used in this section:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14840-02-4
A. 9578 2
1 a. "Actual assessed valuation" means the assessed valuation of real
2 property prior to the calculation of any transitional assessed valuation
3 pursuant to subdivision three of section eighteen hundred five of this
4 chapter, and which is not reduced by any exemption from real property
5 taxes.
6 b. "Annual tax" means the amount of real property tax that is imposed
7 on a property for a fiscal year, determined after reduction for any
8 amount from which the property is exempt, or which is abated, pursuant
9 to applicable law.
10 c. "Annual tax attributable to improvements" means the amount of real
11 property tax that is imposed on a property for a fiscal year, determined
12 after reduction for any amount from which the property is exempt, or
13 which is abated, pursuant to applicable law, multiplied by a fraction,
14 the numerator of which is equal to the assessed valuation of the proper-
15 ty for such fiscal year that is attributable to the improvements on the
16 property, and the denominator of which is the total assessed valuation
17 of the property for such fiscal year.
18 d. "Assessed valuation" means the assessed valuation of real property
19 that was used to determine the annual tax as defined in paragraph b of
20 this subdivision, and which is not reduced by any exemption from real
21 property taxes. For real property classified as class two or class four
22 real property as defined in subdivision one of section eighteen hundred
23 two of this chapter to which subdivision three of section eighteen
24 hundred five of this chapter applies, unless otherwise provided, the
25 assessed valuation is the lower of the actual assessed valuation as
26 defined in paragraph a of this subdivision and transitional assessed
27 valuation as defined in paragraph j of this subdivision.
28 e. "Assessed valuation attributable to improvements" means that
29 portion of the assessed valuation of real property that was used to
30 determine the annual tax attributable to improvements as defined in
31 paragraph c of this subdivision, and which is not reduced by any
32 exemption from real property taxes.
33 f. "Commissioner of finance" means the commissioner of finance of a
34 city having a population of one million or more, or his or her designee.
35 g. "Department of finance" means the department of finance of a city
36 having a population of one million or more.
37 h. "Improvements" means buildings and other articles and structures,
38 substructures and superstructures erected upon, under or above the land,
39 or affixed thereto, including bridges and wharves and piers and the
40 value of the right to collect wharfage, cranage or dockage thereon.
41 i. "Total square footage of the improvements on the property" means,
42 with respect to a fiscal year, the square footage used by the department
43 of finance in determining the assessed valuation attributable to
44 improvements on the property for such fiscal year.
45 j. "Transitional assessed valuation" is the assessed valuation calcu-
46 lated pursuant to subdivision three of section eighteen hundred five of
47 this chapter, and which is not reduced by any exemption from real prop-
48 erty taxes.
49 3. Eligible real property. For purposes of this section, "eligible
50 real property" means any tax lot that contained, on the applicable taxa-
51 ble status date, class one, class two or class four real property as
52 such class of real property is defined in subdivision one of section
53 eighteen hundred two of this chapter, as to which:
54 a. the department of finance reduced the assessed valuation attribut-
55 able to improvements on the property for the fiscal year beginning on
56 the first of July, two thousand thirteen from the assessed valuation
A. 9578 3
1 attributable to improvements on the property for the fiscal year begin-
2 ning on the first of July, two thousand twelve as a result of damage
3 caused by the severe storm that occurred on the twenty-ninth and thirti-
4 eth of October, two thousand twelve;
5 b. the department of finance increased the assessed valuation attrib-
6 utable to improvements on the property for the fiscal year beginning on
7 the first of July, two thousand fourteen from the assessed valuation
8 attributable to improvements on the property for the fiscal year begin-
9 ning on the first of July, two thousand thirteen; and
10 c. the assessed valuation attributable to improvements on the property
11 for the fiscal year beginning on the first of July, two thousand four-
12 teen exceeds the assessed valuation attributable to improvements on the
13 property for the fiscal year beginning on the first of July, two thou-
14 sand twelve.
15 4. Amount of partial abatement. a. Except as provided in paragraph c
16 of this subdivision, eligible real property shall receive a partial
17 abatement of the real property taxes due on such property equal to the
18 amount by which (1) the annual tax on the property for the fiscal year
19 beginning on the first of July, two thousand fourteen exceeds (2) the
20 annual tax on the property for the fiscal year beginning on the first of
21 July, two thousand twelve.
22 b. Notwithstanding paragraph a of this subdivision and except as
23 provided in paragraph c of this subdivision, the amount of the partial
24 abatement of the real property taxes due on eligible real property clas-
25 sified as class two or class four real property as defined in subdivi-
26 sion one of section eighteen hundred two of this chapter to which subdi-
27 vision three of section eighteen hundred five of this chapter applies
28 shall be equal to the amount of (1) the increase in the actual assessed
29 valuation attributable to an addition to or improvement of the property
30 as provided in subdivision five of section eighteen hundred five of this
31 chapter for the fiscal year beginning on the first of July, two thousand
32 fourteen, (2) reduced by the increase in the actual assessed valuation
33 attributable to an addition to or improvement of the property as
34 provided in subdivision five of section eighteen hundred five of this
35 chapter for the fiscal year beginning on the first of July, two thousand
36 fourteen, multiplied by a fraction, the numerator of which is the tran-
37 sitional assessed valuation for the fiscal year beginning on the first
38 of July, two thousand thirteen, and the denominator of which is the
39 actual assessed valuation for the fiscal year beginning on the first of
40 July, two thousand thirteen, (3) multiplied by the real property tax
41 rate that is applicable to the property for the fiscal year beginning on
42 the first of July, two thousand fourteen. Eligible real property shall
43 not be eligible for an abatement under this section if the fraction
44 calculated in subparagraph two of this paragraph is equal to or greater
45 than one.
46 c. In the event that the total square footage of the improvements on
47 the property for the fiscal year beginning on the first of July, two
48 thousand fourteen exceeds the total square footage of the improvements
49 on the property for the fiscal year beginning on the first of July, two
50 thousand twelve, the amount of the partial abatement shall be the amount
51 computed by multiplying the amount calculated under paragraph a or b of
52 this subdivision by a fraction, the numerator of which is equal to the
53 amount of the total square footage of the improvements on the property
54 for the fiscal year beginning on the first of July, two thousand twelve,
55 and the denominator of which is equal to the amount of the total square
A. 9578 4
1 footage of the improvements on the property for the fiscal year begin-
2 ning on the first of July, two thousand fourteen.
3 d. For property held in the cooperative form of ownership, the abate-
4 ment shall be credited to each unit therein in an amount equal to that
5 proportion of the amount calculated under this subdivision that is
6 attributable to such unit, as determined by the proportional relation-
7 ship of the owner's share or shares of stock in the cooperative corpo-
8 ration that owns such real property to the total outstanding stock of
9 the cooperative corporation.
10 e. Eligible real property shall not be eligible for an abatement under
11 this section if the amount of the abatement calculated pursuant to this
12 subdivision exceeds the annual tax on the property for the fiscal year
13 beginning on the first of July, two thousand fourteen.
14 5. Recovery of erroneous abatement.
15 a. For purposes of this section, an "erroneous abatement" means that:
16 (1) an abatement was granted to a property that was not entitled to an
17 abatement under this section, or
18 (2) an abatement was applied or calculated in error under this
19 section. In such event, the amount of the erroneous abatement shall be
20 equal to the difference between the amount of the abatement originally
21 received and the amount to which the property was entitled.
22 b. If the commissioner of finance determines that a property received
23 an erroneous abatement, he or she shall recover such erroneous abatement
24 by deducting the amount of the erroneous abatement from any refund or
25 rebate otherwise payable to the owner, and any balance of the amount of
26 the erroneous abatement remaining unpaid shall constitute a tax lien on
27 the real property, as of the due and payable date provided on the next
28 tax bill mailed by the commissioner of finance containing such amount.
29 If such amount is not paid by such due and payable date, interest at the
30 rate applicable to delinquent real property taxes on such property shall
31 be charged and collected on such amount from the due and payable date
32 provided on such notice to the date of payment. Such tax lien shall be
33 enforceable in accordance with the provisions of law relating to the
34 enforcement of tax liens in any such city.
35 6. Reduction of assessed value. If the taxable assessed value of a
36 property for the fiscal year beginning on the first of July, two thou-
37 sand fourteen is reduced after the assessment roll applicable to such
38 fiscal year becomes final, any abatement already granted pursuant to
39 this section shall be adjusted accordingly. The difference between the
40 original abatement and the adjusted abatement shall be deducted from any
41 credit otherwise due.
42 7. Rulemaking. The commissioner of finance shall be authorized to
43 promulgate rules necessary to effectuate the purposes of this section.
44 § 2. This act shall take effect immediately.
