Bill S133A-2011

Requires market-based assessments on real property owned or leased by a cooperative corporation or on a condominium basis

Requires market-based assessments of real property owned or leased by a cooperative corporation or on a condominium basis which is converted or constructed on or after January 1, 2014.

Details

Actions

  • Jan 11, 2012: PRINT NUMBER 133A
  • Jan 11, 2012: AMEND AND RECOMMIT TO LOCAL GOVERNMENT
  • Jan 4, 2012: REFERRED TO LOCAL GOVERNMENT
  • Jan 5, 2011: REFERRED TO LOCAL GOVERNMENT

Text

STATE OF NEW YORK ________________________________________________________________________ 133--A 2011-2012 Regular Sessions IN SENATE (PREFILED) January 5, 2011 ___________
Introduced by Sen. LITTLE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- recom- mitted to the Committee on Local Government in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the real property tax law and the real property law, in relation to the assessment of condominiums and cooperatives THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 581 of the real property tax law is amended by adding a new paragraph (d) to read as follows: (D) THE PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVISION SHALL NOT APPLY IN A MUNICIPAL CORPORATION, OTHER THAN A SPECIAL ASSESSING UNIT, TO A CONDOMINIUM OR COOPERATIVE UNIT UNLESS IT WAS SUBJECT TO THE PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVISION ON JANUARY FIRST, TWO THOUSAND FOURTEEN. S 2. Subdivision 1 of section 339-y of the real property law is amended by adding a new paragraph (g) to read as follows: (G) THE PROVISIONS OF PARAGRAPH (B) OF THIS SUBDIVISION SHALL NOT APPLY IN A MUNICIPAL CORPORATION, OTHER THAN A SPECIAL ASSESSING UNIT, TO A CONDOMINIUM UNIT UNLESS IT WAS SUBJECT TO THE PROVISIONS OF PARA- GRAPH (B) OF THIS SUBDIVISION ON JANUARY FIRST, TWO THOUSAND FOURTEEN. S 3. This act shall take effect immediately and shall apply to assess- ment rolls prepared on the basis of taxable status dates occurring on or after January 1, 2014.

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