Enacts the New York City Hurricane Sandy assessment relief act to provide assessment relief for flood victims; provides cities with a population of one million or more with a local option to approve the use of provisions of the assessment relief act.

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S2128-2013 Actions

• Jan 11, 2013: REFERRED TO CITIES

S2128-2013 Memo

BILL NUMBER:S2128

TITLE OF BILL:
An act
enacting the New York City Hurricane Sandy assessment relief act

PURPOSE OR GENERAL IDEA OF BILL: To provide real
property tax relief
to New York City property owners whose properties were
catastrophically impacted by Hurricane Sandy.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1 contains the title: "New York City Hurricane Sandy
Assessment Relief Act."

Section 2 defines the terms used in the act.

Section 3 provides that a city with a population of one million may
adopt the provisions of this act by passing a resolution by the
forty-fifth day following the date upon which this act is approved by
the Governor.

Section 4 provides that properties that were catastrophically impacted
by Hurricane Sandy, having lost fifty percent or more of their
assessed value, shall be granted assessment relief as follows:

* If the property lost at least fifty but less than sixty percent of
its value, the taxable assessed value of the property shall be
reduced by fifty-five percent for the impacted assessment roll.

* If the property lost at least sixty but less than seventy percent of
its value, the taxable assessed value of the property shall be
reduced by sixty-five percent for the impacted assessment roll.

* If the property lost at least seventy but less than eighty percent of
its value, the taxable assessed value of the property shall be
reduced by seventy-five percent for the impacted assessment roll.

* If the property lost at least eighty but less than ninety percent of
its value, the taxable assessed value of the property shall be
reduced by eighty-five percent for the impacted assessment roll.

* If the property lost at least ninety but less than one hundred
percent of its value, the taxable assessed value of the property
shall be reduced by ninety-five percent for the impacted assessment
roll.

* If the property lost all of its value, the taxable assessed value of
the property shall be reduced to zero for the impacted assessment roll.
The percentage loss in value due to Hurricane Sandy would be

determined by the New York City Department of Finance, which would be
subject to review by the New York City Tax Commission if so requested
by the taxpayer.

To receive relief pursuant to this act, the property owner must submit
a written request 10 the New York City Department of Finance within
90 days following the date upon which this act is approved by the
Governor.

Section 5 of this act would provide that the New York City School be
held harmless by the State for any reduction in State Aid that would
have been paid as at tax savings pursuant to � 1306-a of the Real
property Tax Law.

Section 6 provides that the act would take effect immediately and be
deemed to have been in full force and effect on or after October 26,
2012.

JUSTIFICATION:
Hurricane Sandy caused catastrophic damaged to
properties in New York City. This legislation provides relief in the
form of a property tax reduction for those New York City taxpayers
whose property was substantially damaged by the storms.

PRIOR LEGISLATIVE HISTORY: New bill.

FISCAL IMPLICATIONS: None to State

EFFECTIVE DATE: Immediately, and shall be deemed to
have been in full
force and effect on and October 26, 2012.

S2128-2013 Text

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

                                    2128

                         2013-2014 Regular Sessions

                              I N  SENATE

                              January 11, 2013
                                 ___________

  Introduced  by  Sens.  SQUADRON, ADDABBO, AVELLA, GIANARIS -- read twice
    and ordered printed, and when printed to be committed to the Committee
    on Cities

  AN ACT enacting the New York City Hurricane Sandy assessment relief act

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


    Section  1.  Short  title. This act shall be known and may be cited as
  the "New York City Hurricane Sandy Assessment Relief Act".
    S 2. Definitions. For the purposes of this act,  the  following  terms
  shall have the following meanings:

    1. "Catastrophically impacted property" shall mean a property which is
  located  in  a  city with a population of one million or more, and which
  lost fifty percent or more of its value as a result of Hurricane Sandy.
    2. "Impacted assessment roll" shall mean the assessment roll that  was
  finalized in the calendar year 2012.
    3.  "Hurricane  Sandy"  shall  mean the storms, rains, or floods which
  occurred within a city with a population of one million or  more  during
  the period beginning on October 29, 2012 and ending November 3, 2012.
    S 3. Local option. A city with a population of one million or more may
  exercise  the provisions of this act if its governing body shall, by the
  forty-fifth day following the date upon which this act  is  approved  by
  the governor, pass a resolution adopting the provisions of this act.
    S  4.  Assessment  relief  for  flood  victims. 1. Notwithstanding any
  provision of law to the contrary, where  property  was  catastrophically
  impacted  by  Hurricane  Sandy,  provided  such  city  has  adopted  the
  provisions of this act, assessment relief shall be granted as follows:

    (a) If the property lost at least fifty but less than sixty percent of
  its value due to Hurricane Sandy, the  taxable  assessed  value  of  the
  property shall be reduced by fifty-five percent for the impacted assess-
  ment roll.

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD04676-01-3

 S. 2128                             2

    (b)  If the property lost at least sixty but less than seventy percent
  of its value due to Hurricane Sandy, the taxable assessed value  of  the
  property shall be reduced by sixty-five percent for the impacted assess-
  ment roll.
    (c) If the property lost at least seventy but less than eighty percent
  of  its  value due to Hurricane Sandy, the taxable assessed value of the
  property shall be reduced  by  seventy-five  percent  for  the  impacted
  assessment roll.
    (d)  If the property lost at least eighty but less than ninety percent
  of its value due to Hurricane Sandy, the taxable assessed value  of  the
  property  shall  be  reduced  by  eighty-five  percent  for the impacted
  assessment roll.
    (e) If the property lost at least ninety but  less  than  one  hundred
  percent  of its value due to Hurricane Sandy, the taxable assessed value
  of the property shall be reduced by ninety-five percent for the impacted
  assessment roll.
    (f) If the property lost all of its value due to Hurricane Sandy,  the
  taxable  assessed value of the property shall be reduced to zero for the
  impacted assessment roll.
    (g) The percentage loss in value for the purpose of this act shall  be
  determined  by  the  New  York  city department of finance in the manner
  provided by this act, subject to review by the New York city tax commis-
  sion.
    (h) No reduction in taxable assessed value shall be  granted  pursuant
  to this act except as specified above.
    2.  To  receive  such  relief pursuant to this act, the property owner
  shall submit a written request  to  the  New  York  city  department  of
  finance  within  ninety  days  following the date upon which this act is
  approved by the governor. Such request  need  not  be  in  a  particular
  format  but shall describe in reasonable detail the damage caused to the
  property by Hurricane Sandy and the condition of the property  following
  the  hurricane,  and shall be accompanied by supporting documentation if
  available.
    3. Upon receiving such a request, the  New  York  city  department  of
  finance  shall  make  a finding as to whether the property lost at least
  half of its value as a result of Hurricane Sandy, and if so, shall clas-
  sify the percentage loss of value within one of the following ranges:

    (a) at least fifty percent but less than sixty percent,
    (b) at least sixty percent but less than seventy percent,
    (c) at least seventy percent but less than eighty percent,
    (d) at least eighty percent but less than ninety percent,
    (e) at least ninety percent but less than one hundred percent, or
    (f) one hundred percent.
    4. The New York city  department  of  finance  shall  provide  written
  notice  of  such  finding  to the property owner. The property owner may
  appeal the New York city department of finance's finding to the New York
  city tax commission. Upon receipt of such appeal, the New York city  tax
  commission  shall reconvene upon ten days written notice to the property
  owner and the New York city department of finance to hear the appeal and
  determine the matter, and shall provide written notice of  its  determi-
  nation  to  the  New York city department of finance and property owner.
  The provisions of article 5 of the real property tax  law  shall  govern
  the review process to the extent practicable.
    5.  Where  property  has  been  determined to have lost at least fifty
  percent of its value due to Hurricane Sandy, the taxable assessed  value
  of  the property on the impacted assessment roll shall be reduced by the

 S. 2128                             3

  appropriate percentage specified in subdivision  one  of  this  section,
  provided  that  any exemptions which the property may be receiving shall
  be adjusted as necessary to account for such reduction  in  the  taxable
  assessed value. To the extent the taxable assessed value of the property
  originally  appearing on such roll exceeds the amount to which it should
  be reduced pursuant to this act, the excess shall be considered a  cler-
  ical  error.  The error shall be corrected, and a refund or credit shall
  be provided in a manner consistent with section 11-206 of  the  adminis-
  trative code of the city of New York.
    6.  The  rights contained in this act shall not otherwise diminish any
  other legally available right of any property owner  or  party  who  may
  otherwise  lawfully  challenge  the  valuation or assessment of any real
  property or improvements thereon. All remaining rights hereby remain and
  shall be available to the party to whom such rights would  otherwise  be
  available notwithstanding this act.
    S  5.  School  district held harmless. The city school district of the
  city of New York shall be held harmless by the state for  any  reduction
  in  state  aid  that  would  have  been  paid as tax savings pursuant to
  section 1306-a of  the  real  property  tax  law  incurred  due  to  the
  provisions of this act.
    S  6.  This  act  shall take effect immediately and shall be deemed to
  have been in full force and effect on and after October 26, 2012.