Senate Bill S1866

2013-2014 Legislative Session

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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Archive: Last Bill Status - In Senate Committee Cities 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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2013-S1866 (ACTIVE) - Details

See Assembly Version of this Bill:
A915
Current Committee:
Senate Cities
Law Section:
New York City Administrative Code
Laws Affected:
Add §11-240, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2011-2012: S6572, A9466
2015-2016: S3181, A1074
2017-2018: S5229, A338
2019-2020: S2946, A250
2021-2022: S4147, A686
2023-2024: S1893

2013-S1866 (ACTIVE) - Summary

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.

2013-S1866 (ACTIVE) - Sponsor Memo

2013-S1866 (ACTIVE) - Bill Text download pdf 

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

                                  1866

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sen. STAVISKY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Cities

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:

  Section  1. The administrative code of the city of New York is amended
by adding a new section 11-240 to read as follows:
  S 11-240 ASSESSMENTS FOLLOWING TAX CERTIORARI SETTLEMENT. THE ASSESSED
VALUE OF REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE  CORPORATION  OR
ON  A  CONDOMINIUM BASIS SHALL INCREASE BY NO MORE THAN THREE PERCENT IN
THE TWO YEARS FOLLOWING THE RESOLUTION OF TAX CERTIORARI PROCEEDINGS  ON
SUCH PROPERTY.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04258-01-3

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