NY State Assembly Bill 2009-A10593

Archive: Last Bill Status - In Assembly Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 24, 2010	reported referred to rules
Apr 13, 2010	reported referred to ways and means
Apr 08, 2010	referred to real property taxation

2009-A10593 (ACTIVE) - Details

See Senate Version of this Bill:: S7653
Current Committee:: Assembly Rules
Law Section:: Real Property Tax Law
Laws Affected:: Amd §§1902, 1903, 425, 511, 581, 720 & 1111, add Art 19-A §§1911 - 1918, 1617, RPT L; amd §339-y, RP L

2009-A10593 (ACTIVE) - Summary

Authorizes the use of class tax rates in certain assessing units.

2009-A10593 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:A10593

TITLE  OF BILL:   An act to amend the real property tax law and the real
property law, in relation to authorizing the use of class tax  rates  in
certain assessing units

Purpose of the bill:  The purpose of this bill is to simplify the system
for  allocating taxes between the homestead and non-homestead classes in
certain assessing units.

Summary of provisions:

Section 1 of the bill would amend Real Property Tax Law ("RPTL") §  1902
by  adding a new subdivision 5 to provide that no new Approved Assessing
Units ("AAU") will be certified under RPTL Article 19 after December 31,
2010.

Section 2 of the bill would amend RPTL § 1903 by adding a  new  subdivi-
sion  11  to  permit existing AAUs to opt into the new RPTL Article 19-A
(created by section.3 of the bill), rather than  continuing  to  operate
under RPTL Article 19.

Section  3  of  the  bill would create a new Article 19-A in the RPTL to
govern the use of class tax rates by assessing units that conduct reval-
uations on and after January 1, 2011. Like RPTI,  Article  19,  the  new
RPTL  Article  19-A would authorize distinctions between the "homestead"

(mostly residential) and "non-homestead" (mostly commercial) classes for
purposes of real property taxation, but it would be considerably simpler
to administer and understand. The new RPTL  Article  19-A  contains  the
following provisions:

*  RPTL  § 1911 establishes definitions for RPTL Article 19-A, including
definitions of "homestead class" and "non-homestead class," which  would
be the same as they are under RPTL Article 19, except that the homestead
class  would  also  include co-operative apartments and could be further
expanded at local option to include either (1)  apartment  buildings  or
(2) business property within a locally-designated area, or both.

*  RPTL  § 1912 provides that any assessing unit that is doing a revalu-
ation at 100% of value may apply to the State  Board  of  Real  Property
Services  ("SBRPS")  for certification of its revaluation as "homestead-
compliant." Upon receiving such certification, the governing body of the
assessing unit may direct its assessor to classify each parcel of  prop-
erty as either homestead or non-homestead, as appropriate.

*  RPTL § 1913 authorizes the governing body of such homestead-compliant
assessing unit to impose its taxes using a different tax rate  for  each
class of property, School districts and villages which use the assessing
roll  for the levy of their taxes may opt to impose such class tax rates
as well. Under RPTL § 1913, the class tax rates  would  be  set  at  the
discretion  of  the  governing body, subject to the constraints that (1)
the non-homestead class tax rate could be no more than 25%  higher  than

the  homestead  class  tax  rate, subject to a 10 to 20 year phase-in of
that limitation if the "baseline differential" is greater than 25%,  and
(2)  in  no - case could the homestead class tax rate be higher than the
non-homestead class tax rate.

*  RPTL  § 1914, requires an assessing unit to complete a homestead-com-
pliant revaluation at least once every 4 years, in order  to  remain  in
the  program established by RPTL Article 19-A. Under RPTL §1914, if such
a revaluation is not undertaken,  the  assessing  unit  and  the  school
districts  and  villages  associated with it would lose their ability to
establish class tax rates.

* RPTL § 1915 provides that the governing body of a homestead  assessing
unit  may  adopt.a  resolution  terminating  its  status  as a homestead
assessing unit, the effect of which would be  to  make  inapplicable  to
such assessing unit and the municipal corporations which levy taxes upon
its assessment roll the provisions of RPTL Article 19-A.

*  RPTL  §  1916  provides  that  a  copy of any local law or resolution
adopted pursuant to RPTL Article 19-A must be filed with the SBRPS with-
in 30 days after such adoption.

* RPTL § 1917 provides that all property in a homestead  assessing  unit
must be assessed as required by RPTL § 305(2).

* RPTL § 1918 provides that an assessing unit that has been certified as
an  AAU under RPTL Article 19 would have the option to move into the new
RPTL Article 19-A program, without having to complete a new  revaluation
as a condition for entry. Ilan assessing unit does so, however, it would
be  required  to conduct a homestead-compliant revaluation no later than
its fourth year under RPTL Article 19-A, and at least  once  every  four
years thereafter in order to remain in the program.

Sections  4  through  11 of the bill would make the necessary conforming
changes to various other provisions of the RPTL.

Section 12 of the bill would make it effective January 1, 2011, provided
that (1) an application for certification  of  a  revaluation  as  home-
stead-compliant  pursuant  to RPTL § 1912, as added by this bill, may be
submitted and approved prior to such  date;  and  (2)  a  resolution  to
become  a  homestead assessing unit pursuant to RPTL § 1912, as added by
this bill, may be adopted prior to such date.

Existing law:  RPTL Article 19 provides that an  assessing  unit  (other
than  New York City and Nassau County) may become an AAU by completing a
revaluation which meets the standards established by the SBRPS.  RPTL
1903  authorizes  an  AAU to establish different tax rates for the home-
stead and non-homestead classes. The AAU, however, has no discretion  in
setting  class  tax rates. Rather, RPTL Article 19 prescribes the use of
an elaborately detailed formula to determine class rates.

This formula is difficult to  understand;  its  key  elements  are  base
proportions,   base   percentages,  class  equalization  rates,  current
percentages, current base proportions, and  adjusted  base  proportions.
The  basic concept underpinning the formula is twofold: (1) it preserves
the  de facto class tax shares that existed prior to the revaluation, so
that taxes will not shift from one class to another as a result  of  the
revaluation,  and  (2) it requires the post-revaluation tax shares to be
indexed to market changes, so that the  disparity  between  the  classes
does not grow any wider.

Adding  to  the complexity of Article 19 is the fact that it applies not
only at the AAU level but also at the "portion" level. Thus, a  parallel
set  of complicated calculations must be performed for school districts,
some villages and selected special districts which are wholly  contained
within  the  AAU.  Yet another set of calculations must be performed for
certain partially contained school districts and villages which  qualify
as "eligible split tax districts."

Legislative  history:    A  similar  bill (S.7579) was introduced at the
request of the SBRPS in  2007-08.  Whereas  the  2007  bill  would  have
mandated  existing  AAUs  to  switch to the new program, this bill would
provide existing AAUs the option to switch to the new RPTL Article  19-A
program.

Statement in support:  The hallmarks of a sound tax system are simplici-
ty and transparency. RPTL Article 19 has neither of these attributes. It
provides for the application of class tax rates that are derived from an
arcane  mathematical  formula.  This bill would enact a new RPTL Article
19-A  that  would  maintain  the  homestead  and   non-homestead   class
construct.  The  new  RPTL  Article  19-A,  however, would provide local
governments and their property  taxpayers  with  a  straightforward  and
comprehensible method for public officials to determine class tax rates.
Under  the new RPTL Article 19-A, class tax rates would be determined in
open public policymaking, subject to public scrutiny.

Budget implications:  This bill would require assessing units to conduct
revaluations in order to become homestead  assessing  units  under  RPTL
Article  19-A.  The  municipal decision to seek homestead assessing unit
status under RPTL Article 19-A, however, would  be  entirely  voluntary.
The bill, therefore, does not mandate any cost on local governments. The
Office  of  Real Property Services ("ORPS") may need to devote resources
to support these additional revaluations, but such support  is  part  of
its  core mission and can be accomplished within its existing budget, To
the extent the program induces existing AAUs to leave  RPTL  Article  19
and become homestead assessing units pursuant to RPTL Article 19-A, this
bill  would  produce  modest  savings for ORPS, which would no longer be
required to establish class equalization rates  for  such  AAUs  and  to
review their adjusted base proportions.

Effective date:  This bill would take effect on January 1, 2011.

2009-A10593 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10593

                          I N  A S S E M B L Y

                              April 8, 2010
                               ___________

Introduced  by  M. of A. GALEF -- (at request of the State Board of Real
  Property Services) -- read once and referred to the Committee on  Real
  Property Taxation

AN  ACT to amend the real property tax law and the real property law, in
  relation to authorizing the use of class tax rates in certain  assess-
  ing units

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 1902 of the real property tax law,
as amended by chapter 355 of the laws of 1997,  is  amended  and  a  new
subdivision 5 is added to read as follows:
  1.  [Whenever]  SUBJECT  TO THE PROVISIONS OF SUBDIVISION FIVE OF THIS
SECTION, WHENEVER an assessing unit other than a special assessing  unit
or an approved assessing unit which has or has had in effect a local law
adopted pursuant to subdivision one of section nineteen hundred three of
this  article  undertakes a revaluation or an update, the governing body
of such assessing unit may apply to the state board for certification or
recertification as an "approved assessing unit".  The state board  shall
monitor  the  progress  of such revaluation or update for the purpose of
determining whether or not such assessing  unit  will  be  eligible  for
certification or recertification as an approved assessing unit.
  5.  NO  NEW APPROVED ASSESSING UNITS SHALL BE CERTIFIED AFTER DECEMBER
THIRTY-FIRST, TWO THOUSAND TEN.
  S 2. Section 1903 of the real property tax law is amended by adding  a
new subdivision 11 to read as follows:
  11. ELECTION OF HOMESTEAD ASSESSING UNIT OPTION. THE GOVERNING BODY OF
AN  APPROVED ASSESSING UNIT MAY ELECT TO ADOPT THE PROVISIONS OF ARTICLE
NINETEEN-A OF THIS CHAPTER IN THE MANNER PROVIDED  BY  SECTION  NINETEEN
HUNDRED  EIGHTEEN  OF SUCH ARTICLE, IN WHICH CASE THE PROVISIONS OF THIS
ARTICLE SHALL NO LONGER BE APPLICABLE THERETO.
  S 3. The real property tax law is amended by adding a new article 19-A
to read as follows:
                               ARTICLE 19-A
               CLASS TAX RATES IN HOMESTEAD TAX DISTRICTS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

                                                           LBD15985-03-0

A. 10593                            2

SECTION 1911. DEFINITIONS.
        1912. ESTABLISHMENT OF HOMESTEAD ASSESSING UNITS.
        1913. USE OF CLASS TAX RATES.
        1914. FOUR-YEAR CYCLE.
        1915. TERMINATION.
        1916. NOTIFICATION REQUIREMENTS.
        1917. STANDARD OF ASSESSMENT TO REMAIN APPLICABLE.
        1918. ELECTION BY APPROVED ASSESSING UNITS.
  S 1911. DEFINITIONS. FOR PURPOSES OF THIS ARTICLE:  1. "ELIGIBLE SPLIT
TAX  DISTRICT" MEANS (A) A SCHOOL DISTRICT LOCATED IN MORE THAN ONE CITY
OR TOWN, WHERE ONE-FIFTH OR MORE OF THE PARCELS IN THE FIRST YEAR IN THE
SCHOOL DISTRICT ARE LOCATED IN ONE OR MORE  HOMESTEAD  ASSESSING  UNITS,
EXCEPT  A  VILLAGE,  OR  (B) A VILLAGE LOCATED IN MORE THAN ONE TOWN AND
WHICH HAS ADOPTED THE PROVISIONS OF SUBDIVISION THREE OF  SECTION  FOUR-
TEEN  HUNDRED  TWELVE  OF  THIS  CHAPTER, WHERE ONE-FIFTH OR MORE OF THE
PARCELS IN THE FIRST YEAR IN THE VILLAGE ARE  LOCATED  IN  ONE  OR  MORE
HOMESTEAD ASSESSING UNITS.
  2. (A) "HOMESTEAD CLASS" MEANS:
  (1)  ALL  ONE, TWO OR THREE FAMILY DWELLING RESIDENTIAL REAL PROPERTY,
INCLUDING SUCH DWELLINGS USED IN PART FOR  NONRESIDENTIAL  PURPOSES  BUT
WHICH ARE USED PRIMARILY FOR RESIDENTIAL PURPOSES, AND FARM DWELLINGS;
  (2)  ALL OTHER RESIDENTIAL REAL PROPERTY CONSISTING OF MORE THAN THREE
DWELLING UNITS HELD IN CONDOMINIUM  FORM  OF  OWNERSHIP  WHERE  NO  SUCH
DWELLING UNIT PREVIOUSLY WAS ON AN ASSESSMENT ROLL AS A DWELLING UNIT IN
OTHER THAN CONDOMINIUM FORM OF OWNERSHIP;
  (3)  ALL OTHER RESIDENTIAL REAL PROPERTY CONSISTING OF MORE THAN THREE
DWELLING UNITS HELD IN CO-OPERATIVE FORM OF OWNERSHIP;
  (4) ALL VACANT LAND PARCELS LOCATED IN AN ASSESSING UNIT WHICH  HAS  A
ZONING  LAW OR ORDINANCE IN EFFECT, PROVIDED THAT SUCH PARCEL IS LOCATED
IN A ZONE THAT  DOES  NOT  ALLOW  A  RESIDENTIAL  USE  OTHER  THAN  THAT
DESCRIBED  IN SUBPARAGRAPH ONE OF THIS PARAGRAPH, PROVIDED FURTHER, THAT
SUCH PARCEL DOES NOT EXCEED TEN ACRES;
  (5) LAND USED IN AGRICULTURAL PRODUCTION  WHICH  IS  ELIGIBLE  FOR  AN
AGRICULTURAL  ASSESSMENT PURSUANT TO SECTION THREE HUNDRED FIVE OR THREE
HUNDRED SIX OF THE AGRICULTURE AND MARKETS LAW, WHERE THE OWNER OF  SUCH
LAND HAS FILED AN ANNUAL APPLICATION FOR AN AGRICULTURAL ASSESSMENT, AND
FARM  BUILDINGS  AND STRUCTURES THEREON, AS DEFINED IN SUBDIVISION THREE
OF SECTION FOUR HUNDRED EIGHTY-THREE OF THIS CHAPTER; AND
  (6) IF THE HOMESTEAD ASSESSING UNIT ADOPTS A LOCAL LAW  SO  PROVIDING,
RESIDENTIAL PROPERTY CONTAINING FOUR OR MORE DWELLING UNITS; AND
  (7)  IF  THE HOMESTEAD ASSESSING UNIT ADOPTS A LOCAL LAW SO PROVIDING,
COMMERCIAL PROPERTY WITHIN A SPECIFIC GEOGRAPHICAL  AREA  AS  DELINEATED
WITHIN SUCH LOCAL LAW.
  (B)  NOTWITHSTANDING  THE  PROVISIONS  OF PARAGRAPH (G) OF SUBDIVISION
TWELVE OF SECTION ONE HUNDRED TWO OF THIS  CHAPTER,  A  MOBILE  HOME  OR
TRAILER  THAT DOES NOT QUALIFY AS A HOMESTEAD UNDER SUBPARAGRAPH FIVE OF
PARAGRAPH (A) OF THIS SUBDIVISION SHALL NOT CONSTITUTE A  HOMESTEAD  FOR
PURPOSES  OF  THIS  ARTICLE  UNLESS  IT IS OWNER-OCCUPIED AND SEPARATELY
ASSESSED.
  3. "NON-HOMESTEAD CLASS" MEANS ALL PROPERTY NOT INCLUDED IN THE  HOME-
STEAD CLASS.
  4.  "TAX" MEANS FOR THE PURPOSES OF THIS ARTICLE A CHARGE IMPOSED UPON
REAL PROPERTY BY OR ON BEHALF OF A COUNTY, CITY, TOWN, VILLAGE OR SCHOOL
DISTRICT FOR MUNICIPAL OR SCHOOL DISTRICT PURPOSES, BUT DOES NOT INCLUDE
A SPECIAL ASSESSMENT.

A. 10593                            3

  S 1912. ESTABLISHMENT OF HOMESTEAD ASSESSING UNITS. 1.  THE  GOVERNING
BODY  OF  AN  ASSESSING  UNIT WHICH IS IMPLEMENTING A REVALUATION AT ONE
HUNDRED PERCENT OF VALUE MAY APPLY TO THE STATE BOARD FOR  CERTIFICATION
OF  ITS REVALUATION AS BEING HOMESTEAD-COMPLIANT. SUCH APPLICATION SHALL
BE  SUBMITTED  AT LEAST ONE HUNDRED TWENTY DAYS BEFORE THE COMPLETION OF
THE TENTATIVE ASSESSMENT ROLL UPON WHICH THE REVALUATION SHALL BE IMPLE-
MENTED, PROVIDED THAT THE BOARD MAY ACCEPT  AN  APPLICATION  AFTER  THAT
DEADLINE  IF  CIRCUMSTANCES WARRANT. THE BOARD SHALL CERTIFY THE REVALU-
ATION AS BEING HOMESTEAD-COMPLIANT IF IT ISSUES OR EXPECTS  TO  ISSUE  A
TENTATIVE STATE EQUALIZATION RATE OF ONE HUNDRED FOR THE ASSESSMENT ROLL
IN  QUESTION, PROVIDED THAT SUCH CERTIFICATION SHALL BE NULLIFIED IF THE
BOARD SHOULD ISSUE A TENTATIVE OR FINAL STATE EQUALIZATION RATE OF OTHER
THAN ONE HUNDRED FOR THE ASSESSMENT ROLL IN QUESTION.
  2. UPON RECEIVING  SUCH  CERTIFICATION,  THE  GOVERNING  BODY  OF  THE
ASSESSING UNIT MAY ADOPT A RESOLUTION DIRECTING THE ASSESSOR TO CLASSIFY
ALL TAXABLE REAL PROPERTY AS HOMESTEAD OR NON-HOMESTEAD, AS THE CASE MAY
BE,  BEGINNING  WITH  THE TENTATIVE ASSESSMENT ROLL ON WHICH THE REVALU-
ATION IS TO BE IMPLEMENTED.
  3. SUCH RESOLUTION SHALL BE ADOPTED NO LATER THAN NINETY  DAYS  BEFORE
THE COMPLETION OF THE TENTATIVE ASSESSMENT ROLL ON WHICH THE REVALUATION
IS TO BE IMPLEMENTED.
  4. UPON THE ADOPTION OF SUCH A RESOLUTION, THE ASSESSING UNIT SHALL BE
CONSIDERED A "HOMESTEAD ASSESSING UNIT" FOR PURPOSES OF THIS ARTICLE.
  5. (A) NO LATER THAN TEN DAYS AFTER THE ADOPTION OF SUCH A RESOLUTION,
THE  CLERK  OF  THE GOVERNING BODY OF THE HOMESTEAD ASSESSING UNIT SHALL
FILE A COPY THEREOF WITH THE CHIEF EXECUTIVE OFFICER OF  EACH  MUNICIPAL
CORPORATION WHICH LEVIES TAXES UPON THE ASSESSMENT ROLL OF THE HOMESTEAD
ASSESSING UNIT.
  (B)  IF  THE  MUNICIPAL CORPORATION IS AN ELIGIBLE SPLIT TAX DISTRICT,
ITS GOVERNING BODY MAY ADOPT A RESOLUTION DIRECTING THE ASSESSOR OF EACH
NON-HOMESTEAD ASSESSING UNIT IN WHICH IT  IS  LOCATED  TO  CLASSIFY  THE
TAXABLE  REAL PROPERTY WITHIN ITS BORDERS AS HOMESTEAD OR NON-HOMESTEAD,
AS THE CASE MAY BE. SUCH RESOLUTION SHALL BE ADOPTED NO LATER THAN THIR-
TY DAYS BEFORE THE TAXABLE STATUS DATE OF THE FIRST ASSESSMENT  ROLL  TO
WHICH  IT  IS  TO  APPLY,  AND  A  COPY  THEREOF SHALL BE FILED WITH THE
AFFECTED ASSESSOR OR  ASSESSORS  NO  LATER  THAN  TEN  DAYS  AFTER  SUCH
ADOPTION.
  6. CLASSIFICATIONS ASSIGNED TO PARCELS BY AN ASSESSOR PURSUANT TO THIS
SECTION  SHALL  BE  SUBJECT  TO  ADMINISTRATIVE  AND  JUDICIAL REVIEW AS
PROVIDED BY LAW.
  S 1913. USE OF CLASS TAX  RATES.  1.  A  MUNICIPAL  CORPORATION  WHICH
LEVIES  TAXES UPON THE ASSESSMENT ROLL OF A HOMESTEAD ASSESSING UNIT AND
WHICH MEETS THE ELIGIBILITY CRITERIA SPECIFIED HEREIN MAY ADOPT A  LOCAL
LAW  WITHOUT  REFERENDUM,  OR  IN THE CASE OF A SCHOOL DISTRICT A RESOL-
UTION, DECLARING ITSELF TO BE A HOMESTEAD TAX DISTRICT FOR  PURPOSES  OF
THIS  ARTICLE.  SUCH  LOCAL  LAW OR RESOLUTION SHALL BE ADOPTED NO LATER
THAN SIXTY DAYS BEFORE THE LAST DATE PRESCRIBED BY LAW FOR THE  LEVY  OF
TAXES TO WHICH SUCH LOCAL LAW OR RESOLUTION IS TO APPLY.
  2. A MUNICIPAL CORPORATION SHALL BE ELIGIBLE TO ADOPT SUCH A LOCAL LAW
OR RESOLUTION IF AND ONLY IF:
  (A) IT IS A HOMESTEAD ASSESSING UNIT; OR
  (B)  IT  IS  WHOLLY  CONTAINED  WITHIN ONE OR MORE HOMESTEAD ASSESSING
UNITS; OR
  (C) IT IS AN ELIGIBLE SPLIT TAX  DISTRICT  AND  HAS  FILED  WITH  EACH
AFFECTED ASSESSOR A COPY OF ITS CLASSIFICATION RESOLUTION AS REQUIRED BY

A. 10593                            4

PARAGRAPH  (B) OF SUBDIVISION FIVE OF SECTION NINETEEN HUNDRED TWELVE OF
THIS ARTICLE.
  3.  THE GOVERNING BODY OF A HOMESTEAD TAX DISTRICT MAY ANNUALLY ESTAB-
LISH SEPARATE CLASS TAX RATES FOR EACH FISCAL YEAR BY RESOLUTION OF  ITS
GOVERNING  BODY  ADOPTED  NO LATER THAN THE DATE ON WHICH THE BUDGET FOR
THAT FISCAL YEAR IS APPROVED PURSUANT TO LAW. THE  CLASS  TAX  RATES  SO
ESTABLISHED  SHALL  RESULT IN THE IMPOSITION UPON THE RESPECTIVE CLASSES
THE TOTAL TAX REVENUES REQUIRED BY SUCH BUDGET, SUBJECT TO  THE  FOLLOW-
ING:
  (A)  THE  NON-HOMESTEAD  CLASS  TAX RATE MAY BE EQUAL TO THE HOMESTEAD
CLASS TAX RATE, OR IT MAY EXCEED THE  HOMESTEAD  CLASS  TAX  RATE  BY  A
PERCENTAGE TO BE DETERMINED BY THE GOVERNING BODY EITHER BY LOCAL LAW OR
ANNUAL  RESOLUTION,  PROVIDED  THAT  SUCH PERCENTAGE SHALL BE NO GREATER
THAN TWENTY-FIVE PERCENT, SUBJECT  TO  THE  TRANSITIONAL  PROVISION  SET
FORTH  IN  SUBDIVISION FOUR OF THIS SECTION IF APPLICABLE. THE GOVERNING
BODY MAY ALSO ADOPT A LOCAL LAW PROVIDING THAT THE  NON-HOMESTEAD  CLASS
TAX  RATE  SHALL BE EQUAL TO THE HOMESTEAD CLASS TAX RATE, IN WHICH CASE
THE SAME TAX RATE SHALL APPLY TO BOTH CLASSES AS LONG AS SUCH LOCAL  LAW
SHALL  BE  IN EFFECT. IN NO CASE MAY THE HOMESTEAD CLASS TAX RATE EXCEED
THE NON-HOMESTEAD CLASS TAX RATE.
  (B) IF THE GOVERNING BODY SHOULD FAIL TO ADOPT CLASS TAX RATES FOR ANY
FISCAL YEAR, THE CLASS TAX RATES FOR THAT FISCAL  YEAR  SHALL  BEAR  THE
SAME RELATIONSHIP TO ONE ANOTHER AS THEY DID IN THE PRIOR FISCAL YEAR.
  (C)  THE CLASS TAX RATES ESTABLISHED BY A HOMESTEAD TAX DISTRICT SHALL
ONLY APPLY TO THE TAXES IMPOSED BY IT OR  ON  ITS  BEHALF,  AND  TO  ANY
SPECIAL  AD  VALOREM  LEVIES  IMPOSED  BY  OR  ON  BEHALF OF ANY SPECIAL
DISTRICTS THAT MAY HAVE BEEN ESTABLISHED BY THE HOMESTEAD TAX  DISTRICT.
THE  CLASS  TAX RATES ESTABLISHED FOR ANY SUCH SPECIAL DISTRICT NEED NOT
BEAR THE SAME RELATIONSHIP TO ONE ANOTHER AS THEY DO FOR  THE  HOMESTEAD
TAX DISTRICT OR FOR ANY OTHER SUCH SPECIAL DISTRICT.
  (D)  IN THE CASE OF AN ELIGIBLE SPLIT TAX DISTRICT, THE GOVERNING BODY
SHALL EQUALIZE THE CLASS TAX RATES SO AS  TO  ENSURE  THAT  THERE  IS  A
SINGLE  EFFECTIVE  FULL  VALUE  TAX  RATE FOR THE HOMESTEAD CLASS, AND A
SINGLE EFFECTIVE FULL VALUE TAX RATE FOR THE  NON-HOMESTEAD  CLASS.  FOR
PURPOSES  OF  THIS PROVISION, THE "EFFECTIVE FULL VALUE TAX RATE" IS THE
TAX RATE THAT WOULD BE IMPOSED IF ALL PROPERTY  WERE  ASSESSED  AT  FULL
VALUE.
  4.  THE  OFFICER WHO COMPUTES TAX RATES FOR THE HOMESTEAD TAX DISTRICT
SHALL COMPUTE A "BASELINE DIFFERENTIAL" AS PROVIDED HEREIN FOR THE HOME-
STEAD TAX DISTRICT PRIOR TO ITS FIRST LEVY OF TAXES AS A  HOMESTEAD  TAX
DISTRICT.   IF THE BASELINE DIFFERENTIAL SO COMPUTED EXCEEDS TWENTY-FIVE
PERCENT, THEN THE GOVERNING BODY OF THE HOMESTEAD TAX DISTRICT MAY ADOPT
A RESOLUTION DIRECTING THAT THE LIMITATION IMPOSED BY PARAGRAPH  (A)  OF
SUBDIVISION  THREE  OF  THIS  SECTION  UPON  THE  DIFFERENCE BETWEEN THE
NON-HOMESTEAD AND HOMESTEAD CLASS  TAX  RATES  SHALL  BE  PHASED  IN  AS
FOLLOWS:
  (A)  IN THE FISCAL YEAR IN WHICH TAXES ARE LEVIED UPON THE REVALUATION
ROLL, THE DIFFERENCE BETWEEN THE NON-HOMESTEAD AND HOMESTEAD  CLASS  TAX
RATES,  EXPRESSED  AS  A  PERCENTAGE,  MAY  BE  GREATER THAN TWENTY-FIVE
PERCENT BUT NO GREATER THAN THE BASELINE DIFFERENTIAL.
  (B) EACH YEAR THEREAFTER, THE  DIFFERENCE  BETWEEN  THE  NON-HOMESTEAD
CLASS  TAX  RATE  AND  ONE  HUNDRED TWENTY-FIVE PERCENT OF THE HOMESTEAD
CLASS TAX RATE SHALL BE DECREASED AT SUCH A RATE AS WILL SERVE TO TOTAL-
LY ELIMINATE THE DIFFERENCE  OVER  THE  TRANSITIONAL  PERIOD  PRESCRIBED
HEREIN.

A. 10593                            5

  (1)  IF  THE BASELINE DIFFERENTIAL IS GREATER THAN TWENTY-FIVE PERCENT
BUT LESS THAN FIFTY PERCENT, THE TRANSITIONAL PERIOD SHALL BE TEN YEARS.
  (2)  IF  THE  BASELINE  DIFFERENTIAL IS GREATER THAN FIFTY PERCENT BUT
LESS THAN ONE HUNDRED PERCENT, THE TRANSITIONAL PERIOD SHALL BE  FIFTEEN
YEARS.
  (3)  IF THE BASELINE DIFFERENTIAL IS GREATER THAN ONE HUNDRED PERCENT,
THE TRANSITIONAL PERIOD SHALL BE TWENTY YEARS.
  (C) THE BASELINE DIFFERENTIAL SHALL BE DETERMINED AS FOLLOWS:
  (1) DETERMINE THE TOTAL ASSESSED VALUE OF THE PROPERTY  IN  THE  HOME-
STEAD  CLASS  ON  THE  REVALUATION ASSESSMENT ROLL, AFTER ACCOUNTING FOR
PHYSICAL CHANGES BETWEEN THE REVALUATION ASSESSMENT ROLL AND  THE  PRIOR
ASSESSMENT ROLL.
  (2)  DETERMINE  THE  TOTAL ASSESSED VALUE OF THE PROPERTY IN THE HOME-
STEAD CLASS ON THE PRIOR ASSESSMENT ROLL.
  (3) DIVIDE THE RESULT OBTAINED IN SUBPARAGRAPH ONE OF  THIS  PARAGRAPH
BY THE RESULT OBTAINED IN SUBPARAGRAPH TWO OF THIS PARAGRAPH.
  (4)  DETERMINE  THE  TOTAL  ASSESSED  VALUE  OF  THE  PROPERTY  IN THE
NON-HOMESTEAD CLASS ON THE REVALUATION ASSESSMENT ROLL, AFTER ACCOUNTING
FOR PHYSICAL CHANGES BETWEEN THE REVALUATION  ASSESSMENT  ROLL  AND  THE
PRIOR ASSESSMENT ROLL.
  (5)  DETERMINE  THE  TOTAL  ASSESSED  VALUE  OF  THE  PROPERTY  IN THE
NON-HOMESTEAD CLASS ON THE PRIOR ASSESSMENT ROLL.
  (6) DIVIDE THE RESULT OBTAINED IN SUBPARAGRAPH FOUR OF THIS  PARAGRAPH
BY THE RESULT OBTAINED IN SUBPARAGRAPH FIVE OF THIS PARAGRAPH.
  (7)  DETERMINE THE PERCENTAGE BY WHICH THE RESULT OBTAINED IN SUBPARA-
GRAPH THREE OF THIS PARAGRAPH EXCEEDS THE RESULT  OBTAINED  IN  SUBPARA-
GRAPH SIX OF THIS PARAGRAPH. THE RESULT IS THE BASELINE DIFFERENTIAL.
  S  1914.  FOUR-YEAR CYCLE. 1. IN ORDER TO REMAIN A HOMESTEAD ASSESSING
UNIT, AT LEAST ONCE IN EVERY FOUR-YEAR PERIOD  THE  HOMESTEAD  ASSESSING
UNIT  MUST  COMPLETE A REVALUATION AT ONE HUNDRED PERCENT OF VALUE WHICH
IS CERTIFIED BY THE STATE BOARD  AS  BEING  HOMESTEAD-COMPLIANT.  IF  IT
FAILS  TO DO SO, THE PROVISIONS OF THIS ARTICLE SHALL CEASE TO BE APPLI-
CABLE TO THE ASSESSING UNIT AND TO THE MUNICIPAL CORPORATIONS WHICH LEVY
TAXES UPON ITS ASSESSMENT ROLL; PROVIDED THAT  THE  PROVISIONS  OF  THIS
ARTICLE  SHALL REMAIN APPLICABLE TO ANY SUCH MUNICIPAL CORPORATION WHICH
MAY BE CONSIDERED AN ELIGIBLE SPLIT TAX DISTRICT BECAUSE IT IS PARTIALLY
LOCATED WITHIN A DIFFERENT  ASSESSING  UNIT  THAT  REMAINS  A  HOMESTEAD
ASSESSING UNIT.
  2. AN ASSESSING UNIT WHICH HAS CEASED TO BE A HOMESTEAD ASSESSING UNIT
DUE TO THE PROVISIONS OF SUBDIVISION ONE OF THIS SECTION MAY REGAIN SUCH
STATUS  ON  A PROSPECTIVE BASIS BY COMPLETING ANOTHER REVALUATION AT ONE
HUNDRED PERCENT OF VALUE WHICH IS CERTIFIED BY THE STATE BOARD AS  BEING
HOMESTEAD-COMPLIANT.
  S  1915.  TERMINATION.  1. THE GOVERNING BODY OF A HOMESTEAD ASSESSING
UNIT MAY ADOPT A  RESOLUTION  TERMINATING  ITS  STATUS  AS  A  HOMESTEAD
ASSESSING  UNIT.    WHERE  SUCH  A  RESOLUTION  HAS  BEEN  ADOPTED,  THE
PROVISIONS OF THIS ARTICLE SHALL CEASE TO BE APPLICABLE TO THE ASSESSING
UNIT AND TO THE MUNICIPAL CORPORATIONS WHICH LEVY TAXES UPON ITS ASSESS-
MENT ROLL; PROVIDED THAT THE PROVISIONS OF  THIS  ARTICLE  SHALL  REMAIN
APPLICABLE  TO ANY SUCH MUNICIPAL CORPORATION WHICH MAY BE CONSIDERED AN
ELIGIBLE SPLIT TAX DISTRICT BECAUSE IT IS  PARTIALLY  LOCATED  WITHIN  A
DIFFERENT ASSESSING UNIT THAT REMAINS A HOMESTEAD ASSESSING UNIT.
  2.  THE  GOVERNING BODY OF A HOMESTEAD TAX DISTRICT MAY ADOPT A RESOL-
UTION TERMINATING ITS STATUS AS A HOMESTEAD TAX DISTRICT. WHERE  SUCH  A
RESOLUTION HAS BEEN ADOPTED, IT SHALL NO LONGER BE ELIGIBLE TO USE CLASS
TAX  RATES,  AND ANY ASSESSOR WHO HAD BEEN REQUIRED TO CLASSIFY PROPERTY

A. 10593                            6

AS HOMESTEAD OR NON-HOMESTEAD DUE TO THE STATUS OF THE MUNICIPAL  CORPO-
RATION AS A HOMESTEAD TAX DISTRICT SHALL NO LONGER BE REQUIRED TO DO SO.
  3. AN ASSESSING UNIT WHICH HAS CEASED TO BE A HOMESTEAD ASSESSING UNIT
DUE TO THE PROVISIONS OF SUBDIVISION ONE OF THIS SECTION MAY REGAIN SUCH
STATUS  ON  A PROSPECTIVE BASIS BY COMPLETING ANOTHER REVALUATION AT ONE
HUNDRED PERCENT OF VALUE WHICH IS CERTIFIED BY THE STATE BOARD AS  BEING
HOMESTEAD-COMPLIANT.
  S  1916.  NOTIFICATION REQUIREMENTS. IN ADDITION TO ANY OTHER REQUIRE-
MENT IMPOSED BY LAW, A COPY OF  ANY  LOCAL  LAW  OR  RESOLUTION  ADOPTED
PURSUANT  TO  THIS  ARTICLE  SHALL  BE FILED WITH THE STATE BOARD WITHIN
THIRTY DAYS AFTER SUCH ADOPTION.
  S 1917. STANDARD OF ASSESSMENT TO REMAIN APPLICABLE. ALL PROPERTY IN A
HOMESTEAD ASSESSING UNIT SHALL BE ASSESSED AS  REQUIRED  BY  SUBDIVISION
TWO  OF SECTION THREE HUNDRED FIVE OF THIS CHAPTER. NOTHING CONTAINED IN
THIS ARTICLE SHALL BE CONSTRUED TO  AUTHORIZE  ASSESSING  THE  HOMESTEAD
CLASS AT A DIFFERENT PERCENTAGE OF VALUE THAN THE NON-HOMESTEAD CLASS.
  S  1918.  ELECTION  BY  APPROVED ASSESSING UNITS. 1. (A) ANY ASSESSING
UNIT WHICH HAD BEEN CERTIFIED BY THE STATE BOARD PRIOR TO JANUARY FIRST,
TWO THOUSAND ELEVEN AS AN APPROVED ASSESSING UNIT  PURSUANT  TO  SECTION
NINETEEN  HUNDRED  TWO  OF  THIS CHAPTER MAY ADOPT A LOCAL LAW DECLARING
ITSELF TO BE BOTH  A  HOMESTEAD  ASSESSING  UNIT  AND  A  HOMESTEAD  TAX
DISTRICT FOR PURPOSES OF THIS ARTICLE. SUCH A LOCAL LAW SHALL BE ADOPTED
NO  LATER  THAN  SIXTY  DAYS BEFORE THE TAXABLE STATUS DATE OF THE FIRST
ASSESSMENT ROLL TO WHICH IT IS TO APPLY. UPON THE ENACTMENT  OF  SUCH  A
LOCAL LAW, THE ASSESSING UNIT SHALL HAVE THE POWERS AND DUTIES CONFERRED
UPON HOMESTEAD ASSESSING UNITS AND HOMESTEAD TAX DISTRICTS BY THIS ARTI-
CLE,  INCLUDING  THE  POWER  TO  ESTABLISH  CLASS  TAX RATES PURSUANT TO
SECTION  NINETEEN  HUNDRED  THIRTEEN  OF  THIS  ARTICLE;  PROVIDED  THAT
NOTWITHSTANDING  THE  PROVISIONS OF SECTION NINETEEN HUNDRED FOURTEEN OF
THIS ARTICLE, A FORMER APPROVED ASSESSING UNIT SHALL NOT BE REQUIRED  TO
COMPLETE  A  HOMESTEAD-COMPLIANT REVALUATION UNTIL THE FOURTH ASSESSMENT
ROLL PREPARED AFTER HAVING BECOME A HOMESTEAD ASSESSING UNIT.
  (B) IF THE LOCAL LAW SO PROVIDES, THE ASSESSING UNIT MAY RETAIN  WITH-
OUT  CHANGE  THE  DEFINITION  OF  "HOMESTEAD CLASS" THAT APPLIED THEREIN
PURSUANT TO SUBDIVISION THIRTEEN OF SECTION NINETEEN HUNDRED ONE OF THIS
CHAPTER ON THE LAST DAY OF ITS  DESIGNATION  AS  AN  APPROVED  ASSESSING
UNIT.
  2.  ANY  MUNICIPAL CORPORATION THAT NO LONGER QUALIFIES AS A "PORTION"
OR AN "ELIGIBLE SPLIT TAX DISTRICT" DUE  TO  ADOPTION  OF  A  LOCAL  LAW
PURSUANT  TO SUBDIVISION ONE OF THIS SECTION SHALL BE CONSIDERED A HOME-
STEAD TAX DISTRICT FOR PURPOSES OF THIS ARTICLE WITHOUT  FURTHER  ACTION
ON ITS PART. AS SUCH, IT SHALL HAVE THE POWERS AND DUTIES CONFERRED UPON
IT  BY  THIS  ARTICLE,  INCLUDING THE POWER TO ESTABLISH CLASS TAX RATES
PURSUANT TO SECTION NINETEEN  HUNDRED  THIRTEEN  OF  THIS  ARTICLE.  FOR
PURPOSES  OF  THIS  SECTION, THE TERMS "PORTION" AND "ELIGIBLE SPLIT TAX
DISTRICT" SHALL HAVE THE MEANINGS SET FORTH IN SECTION NINETEEN  HUNDRED
ONE OF THIS CHAPTER.
  3. NOTWITHSTANDING THE PROVISIONS OF SUBDIVISION FOUR OF SECTION NINE-
TEEN HUNDRED THIRTEEN OF THIS ARTICLE, THE "BASELINE DIFFERENTIAL" FOR A
FORMER  APPROVED  ASSESSING UNIT, AND FOR ANY FORMER PORTION OR ELIGIBLE
SPLIT TAX DISTRICT ASSOCIATED THEREWITH, SHALL BE COMPUTED  BY  DIVIDING
ITS  LATEST  NON-HOMESTEAD TAX RATE BY ITS LATEST HOMESTEAD TAX RATE, AS
DETERMINED FOR ITS FINAL LEVY OF TAXES UNDER ARTICLE  NINETEEN  OF  THIS
CHAPTER.  IF  THE  BASELINE DIFFERENTIAL SO COMPUTED EXCEEDS TWENTY-FIVE
PERCENT, THEN THE GOVERNING BODY OF THE HOMESTEAD TAX DISTRICT MAY ADOPT
A RESOLUTION DIRECTING THAT THE LIMITATION IMPOSED BY PARAGRAPH  (A)  OF

A. 10593                            7

SUBDIVISION  THREE  OF SECTION NINETEEN HUNDRED THIRTEEN OF THIS ARTICLE
UPON THE DIFFERENCE BETWEEN THE NON-HOMESTEAD AND  HOMESTEAD  CLASS  TAX
RATES  SHALL BE PHASED IN OVER TIME IN THE SAME MANNER AS IS PROVIDED IN
SUBDIVISION FOUR OF SECTION NINETEEN HUNDRED THIRTEEN OF THIS ARTICLE.
  S 4. Paragraph (d) of subdivision 1 of section 339-y of the real prop-
erty  law,  as  amended by chapter 218 of the laws of 1986, subparagraph
(ii) as amended by chapter 223 of the laws of 1989, is amended  to  read
as follows:
  (d)  The  provisions  of  paragraph  (b) of this subdivision shall not
apply to such real property classified within:
  (i) on and after January first, nineteen hundred eighty-six, class one
of section one thousand eight hundred two of the real property tax  law;
[or]
  (ii)  on  and  after  January first, nineteen hundred eighty-four, the
homestead class of an approved assessing  unit  which  has  adopted  the
provisions  of section one thousand nine hundred three of the real prop-
erty tax law, or the homestead class of the portion outside an  approved
assessing  unit  of  an eligible split school district which has adopted
the provisions of section nineteen hundred three-a of the real  property
tax  law;  provided,  however, that, in an approved assessing unit which
adopted the provisions of section one thousand nine hundred three of the
real property tax law prior to [the effective date of this  subdivision]
APRIL  THIRTIETH,  NINETEEN  HUNDRED EIGHTY-THREE, paragraph (b) of this
subdivision shall apply to all such real property (i) which  is  classi-
fied within the homestead class pursuant to paragraph one of subdivision
(e)  of  section  one thousand nine hundred one of the real property tax
law and (ii) which, regardless of classification, was on the  assessment
roll  prior to [the effective date of this subdivision] APRIL THIRTIETH,
NINETEEN HUNDRED EIGHTY-THREE unless the governing body of such approved
assessing unit provides by local law adopted  after  a  public  hearing,
prior  to  the taxable status date of such assessing unit next occurring
after December thirty-first, nineteen hundred  eighty-three,  that  such
paragraph (b) shall not apply to such real property to which this clause
applies.    Provided  further,  however,  real  property  subject to the
provisions of this subparagraph shall be assessed pursuant  to  subdivi-
sion  two  of  section  five hundred eighty-one of the real property tax
law[.]; OR
  (III) ON AND AFTER JANUARY FIRST, TWO THOUSAND ELEVEN,  THE  HOMESTEAD
CLASS  OF A HOMESTEAD TAX DISTRICT ESTABLISHED PURSUANT TO SECTION NINE-
TEEN HUNDRED TWELVE OF THE REAL PROPERTY TAX  LAW,  PROVIDED  THAT  REAL
PROPERTY  SUBJECT  TO  THE  PROVISIONS  OF  THIS  SUBPARAGRAPH  SHALL BE
ASSESSED PURSUANT TO SUBDIVISION TWO OF SECTION FIVE HUNDRED  EIGHTY-ONE
OF THE REAL PROPERTY TAX LAW.
  S  5.  Subdivision  8  of section 425 of the real property tax law, as
added by section 1 of part B of chapter 389 of  the  laws  of  1997,  is
amended to read as follows:
  8. Effect of exemption. The exemption authorized by this section shall
have the effect specified in section one thousand three hundred six-a of
this  chapter.  The  exemption  shall not be considered when determining
state aid to education pursuant to section thirty-six hundred two of the
education law, when determining school district debt limits pursuant  to
law,  when  determining the amount of taxes to be levied by or on behalf
of a school district, when calculating tax rates for a school  district,
when  apportioning  taxes between or among school districts, when appor-
tioning taxes among classes in a special assessing  unit  under  article
eighteen  of this chapter, or when apportioning taxes between classes in

A. 10593                            8

an approved assessing unit OR A HOMESTEAD  TAX  DISTRICT  under  article
nineteen OR NINETEEN-A of this chapter.
  S  6.  Subdivision  1  of section 511 of the real property tax law, as
amended by chapter 319 of the laws  of  1998,  is  amended  to  read  as
follows:
  1. In the year of a revaluation or update of assessments, the assessor
shall, and in any other year may, not later than sixty days prior to the
date set by law for the filing of the tentative assessment roll, mail to
each  owner of real property therein, an assessment disclosure notice in
the format provided in paragraph (a) of subdivision two of this section.
However, pursuant to a resolution adopted by the governing board of  the
assessing  unit,  other  than  a  special  assessing unit or an approved
assessing unit which has adopted  the  provisions  of  section  nineteen
hundred  three of this chapter OR A HOMESTEAD ASSESSING UNIT ESTABLISHED
PURSUANT TO SECTION  NINETEEN  HUNDRED  TWELVE  OF  THIS  CHAPTER,  such
assessment  disclosure  notice  shall  include in lieu thereof the items
specified in paragraph (b) of subdivision two of this section.
  S 7. Paragraph (b) of subdivision 1 of section 581 of the real proper-
ty tax law, as amended by chapter 223 of the laws of 1989, is amended to
read as follows:
  (b) The provisions of paragraph (a)  of  this  subdivision  shall  not
apply to such real property classified within:
  (i) on and after January first, nineteen hundred eighty-six, class one
of section one thousand eight hundred two of this chapter; [or]
  (ii)  on  and  after  January first, nineteen hundred eighty-four, the
homestead class of an approved assessing  unit  which  has  adopted  the
provisions  of  section one thousand nine hundred three of this chapter,
or the homestead class of the portion outside an approved assessing unit
of an eligible split school district which has adopted the provisions of
section nineteen hundred three-a of  this  chapter;  provided,  however,
that,  in  an  approved  assessing  unit which adopted the provisions of
section one thousand nine hundred three of this  chapter  prior  to  the
effective  date  of  this subdivision, paragraph (a) of this subdivision
shall apply to all such real property (i) which is classified within the
homestead class pursuant  to  [paragraph  one  of  subdivision  (e)  of]
section  one  thousand  nine hundred one of this chapter and (ii) which,
regardless of classification, was on the assessment roll prior  to  [the
effective  date  of  this subdivision] APRIL THIRTIETH, NINETEEN HUNDRED
EIGHTY-THREE unless the governing body of such approved  assessing  unit
provides by local law adopted after a public hearing, prior to the taxa-
ble  status  date  of  such assessing unit next occurring after December
thirty-first, nineteen hundred eighty-three,  that  such  paragraph  (a)
shall  not  apply to such real property to which this clause applies[.];
OR
  (III) ON AND AFTER JANUARY FIRST, TWO THOUSAND ELEVEN,  THE  HOMESTEAD
CLASS OF A HOMESTEAD TAX DISTRICT.
  S  8.  Subdivision  2  of section 581 of the real property tax law, as
added by chapter 223 of the laws of 1989, is amended to read as follows:
  2. Real property owned or leased by a cooperative corporation or on  a
condominium  basis  which  is located in an approved assessing unit OR A
HOMESTEAD TAX DISTRICT, or which is not located in an approved assessing
unit OR A HOMESTEAD TAX DISTRICT but which is  located  in  an  eligible
split  school district which has adopted the provisions of section nine-
teen hundred three-a  of  this  chapter,  and  is  not  subject  to  the
provisions of paragraph (a) of subdivision one of this section, shall be
assessed pursuant to the provisions of this subdivision.

A. 10593                            9

  (a)  The  assessor of an assessing unit in which such real property is
located shall compute an assessment which would be placed on such parcel
were the parcel not owned or leased by a cooperative corporation or on a
condominium basis, which value shall be known as the restricted assessed
valuation.
  (b) The assessor of such assessing unit in which such real property is
located shall compute an assessment which would be placed on such parcel
without regard to the restrictions found in paragraph (a) of this subdi-
vision  or section three hundred thirty-nine-y of the real property law,
which value shall be known as the assessed valuation.
  (c) The assessor of such assessing unit shall enter the assessed valu-
ation on the assessment roll of such assessing unit and  the  restricted
assessed  valuation  in a separate column of the assessment roll of such
assessing unit.
  (d) A municipal corporation which levies  taxes  pursuant  to  article
nineteen OR NINETEEN-A of this chapter shall levy such taxes against the
assessed  valuation of such parcels for taxes imposed by or on behalf of
such municipal corporation.
  (e) A municipal corporation which does  not  levy  taxes  pursuant  to
article  nineteen  OR  NINETEEN-A  of this chapter shall levy such taxes
against the restricted assessed valuation  of  such  parcels  for  taxes
levied by or on behalf of such municipal corporation.
  S 9. Clause (i) of subparagraph 1 of paragraph (a) of subdivision 3 of
section  720  of the real property tax law, as amended by chapter 679 of
the laws of 1986, is amended to read as follows:
  (i) residential: all one, two and three family residential real  prop-
erty  including such dwellings used in part for non-residential purposes
but which are used primarily for residential purposes, except such prop-
erty held in cooperative or condominium  forms  of  ownership  provided,
however,  that  in  any  approved  assessing  unit which has adopted the
provisions of section nineteen hundred three of this chapter AND IN  ANY
HOMESTEAD  TAX  DISTRICT,  the  residential  type shall be the homestead
class as defined in this chapter;
  S 10. Paragraph (b) of subdivision 1 of section 1111 of the real prop-
erty tax law, as added by chapter 532 of the laws of 1994, is amended to
read as follows:
  (b) "Residential property" means property which is improved by a  one,
two  or three family structure used exclusively for residential purposes
other than property subject to the  assessment  limitations  of  section
five  hundred  eighty-one of this chapter and article nine-B of the real
property law. A parcel shall be deemed to be  residential  property  for
purposes  of  this article if the applicable tax roll shows that (i) the
assessor has assigned to the parcel a property  classification  code  in
the  residential  category,  or (ii) the parcel has been included in the
homestead class in  an  approved  assessing  unit  OR  A  HOMESTEAD  TAX
DISTRICT, or in class one in a special assessing unit.
  S  11.  The  real  property tax law is amended by adding a new section
1617 to read as follows:
  S 1617. CLASS TAX RATE OPTIONS. 1. A CONSOLIDATED ASSESSING UNIT SHALL
BECOME A HOMESTEAD ASSESSING UNIT UNDER ARTICLE NINETEEN-A OF THIS CHAP-
TER UPON THE ADOPTION OF RESOLUTIONS SO PROVIDING BY ALL OF THE CONSTIT-
UENT MUNICIPALITIES THEREOF, AND MAY TERMINATE ITS STATUS AS A HOMESTEAD
ASSESSING UNIT IN THE SAME MANNER.
  2. IN AN APPROVED ASSESSING UNIT OR HOMESTEAD ASSESSING UNIT THAT  HAS
BECOME  A  CONSTITUENT  MUNICIPALITY  OF  A  CONSOLIDATED ASSESSING UNIT
ESTABLISHED PURSUANT TO THIS ARTICLE, THE PROVISIONS OF ARTICLE NINETEEN

A. 10593                           10

OR NINETEEN-A OF THIS CHAPTER,  WHICHEVER  HAD  BEEN  APPLICABLE,  SHALL
CONTINUE  TO  BE  APPLICABLE TO THE SAME EXTENT AS IF THE ASSESSING UNIT
HAD NOT BECOME PART OF A CONSOLIDATED ASSESSING UNIT, PROVIDED THAT  THE
CONSTITUENT MUNICIPALITY MAY WAIVE THE PROVISIONS OF THIS SUBDIVISION BY
LOCAL LAW.
  S 12. This act shall take effect January 1, 2011, provided that:
  (a)  an  application  for certification of a revaluation as homestead-
compliant pursuant to section 1912 of the real property tax law as added
by section three of this act may be submitted and approved prior to such
date; and
  (b) a resolution to become a  homestead  assessing  unit  pursuant  to
section  1912  of the real property tax law as added by section three of
this act may be adopted prior to such date.

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Assembly Bill A10593

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Archive: Last Bill Status - In Assembly Committee

2009-A10593 (ACTIVE) - Details

2009-A10593 (ACTIVE) - Summary

2009-A10593 (ACTIVE) - Sponsor Memo

2009-A10593 (ACTIVE) - Bill Text download pdf

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Assembly Bill A10593

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Sponsored By

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Archive: Last Bill Status - In Assembly Committee

2009-A10593 (ACTIVE) - Details

2009-A10593 (ACTIVE) - Summary

2009-A10593 (ACTIVE) - Sponsor Memo

2009-A10593 (ACTIVE) - Bill Text download pdf

Comments