New York State Assembly

Bill No.:  

 
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S01893 Summary:

BILL NO	S01893
SAME AS	No Same As
SPONSOR	STAVISKY
COSPNSR	COMRIE
MLTSPNSR
Add §11-240.3, NYC Ad Cd
Provides that assessed values of cooperative units and condominiums shall not increase by more than 3% in the two years following resolution of tax certiorari proceedings.

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S01893 Actions:

BILL NO	S01893
01/17/2023	REFERRED TO CITIES 1
01/03/2024	REFERRED TO CITIES 1

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S01893 Committee Votes:

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S01893 Floor Votes:

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S01893 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1893
 
                               2023-2024 Regular Sessions
 
                    IN SENATE
 
                                    January 17, 2023
                                       ___________
 
        Introduced  by Sen. STAVISKY -- read twice and ordered printed, and when
          printed to be committed to the Committee on Cities 1
 
        AN ACT to amend the administrative code of the  city  of  New  York,  in
          relation  to rates of increase of assessed values of cooperative units
          and condominiums

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1. The administrative code of the city of New York is amended
     2  by adding a new section 11-240.3 to read as follows:
     3    §  11-240.3  Assessments  following  tax  certiorari  settlement.  The
     4  assessed  value of real property owned or leased by a cooperative corpo-
     5  ration or on a condominium basis shall increase by no  more  than  three
     6  percent  in  the  two  years  following the resolution of tax certiorari
     7  proceedings on such property.
     8    § 2. This act shall take effect immediately.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05536-01-3

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