Authorizes the reassessment of real property based upon the substantial change in valuation of real property based upon physical, statutory or economic conditions, without affecting the state aid for reassessment; increases state assistance payable from $5 to $15 per parcel.
STATE OF NEW YORK
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259
2009-2010 Regular Sessions
IN SENATE(Prefiled)
January 7, 2009
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Introduced by Sen. LITTLE -- read twice and ordered printed, and when
printed to be committed to the Committee on Local Government
AN ACT to amend the real property tax law, in relation to state assist-
ance for local real property tax reassessment
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The opening paragraph and paragraph (a) of subdivision 2 of
2 section 1573 of the real property tax law, the opening paragraph as
3 amended by chapter 655 of the laws of 2004 and paragraph (a) as amended
4 by chapter 212 of the laws of 2006, are amended to read as follows:
5 State assistance pursuant to subdivision one of this section shall be
6 payable as follows in an amount not to exceed [five] fifteen dollars per
7 parcel for each separately assessed parcel appearing on the applicable
8 assessment roll, excluding parcels which are wholly exempt or assessed
9 by the state board:
10 (a) Triennial aid shall be payable when the state board determines
11 that the assessing unit has implemented a revaluation or update that
12 includes the reinspection and reappraisal of all locally assessed prop-
13 erties. However, no assessing unit may qualify for this payment more
14 than once in a three year period[, and no aid may be paid pursuant to
15 this paragraph with respect to any assessment roll filed after the year
16 two thousand eleven]. Provided, that no provision of this subdivision
17 shall prohibit any assessor from adjusting, at any time during such
18 three year period of time, the assessment of any parcel the value of
19 which has been substantially affected by a change in physical, statutory
20 or economic conditions, and such adjusted assessment shall be deemed to
21 have been in effect and shall be computed as of the date of valuation by
22 the assessing unit.
23 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00109-01-9
