Requires assessment-rolls to be published and searchable on the department of finance website.
TITLE OF BILL: An act to amend the administrative code of the city of New York, in relation to requiring assessment-rolls to be published on the department of finance website
PURPOSE OR GENERAL IDEA OF BILL: To provide individuals with information included in the assessment rolls in an accessible format.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 amends the administrative code of the City of New York by adding a new section 11-218.1 which will require the Commissioner of Finance to publish assessment rolls on the Department of Finance website in a manner to allow visitors to search information easily.
The commissioner of finance shall publish information regarding how a property is derived on the website in a searchable database.
The information published shall contain address, block, lot, and tax class and a list of comparable properties that the assessors nave used for class one and two properties, the base and overall capitalization rates for class four properties, the fair market value, the target assessment ration, the actual assessed value, whether an assessment cap or transitional assessment Process is in use, the assessed value with the cap or transition, a list of applicable exemptions, the taxable assessed value, the nominal tax rate, the base tax liability and a list of abatements applied and the amount of each abatement.
Section 2 contains the effective date.
JUSTIFICATION: Currently, taxpayers do not have easy access to the information used to assess their property. By allowing taxpayers to search the assessment roll online, instead of requiring them to download the entire database will ensure that the assessment process is transparent to taxpayers in a meaningful way.
PRIOR LEGISLATIVE HISTORY: This is a new bill.
FISCAL IMPLICATIONS: None.
EFFECTIVE DATE: This bill would rake effect on the two hundred seventieth day after it shall have become a law.
STATE OF NEW YORK ________________________________________________________________________ 5771 2013-2014 Regular Sessions IN SENATE June 13, 2013 ___________Introduced by Sen. KLEIN -- 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 requiring assessment-rolls to be published on the depart- ment of finance website 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 11-218.1 to read as follows: S 11-218.1 ASSESSMENT-ROLLS; PUBLICATION. A. THE COMMISSIONER OF FINANCE SHALL PUBLISH THE ASSESSMENT-ROLLS ON THE DEPARTMENT OF FINANCE WEBSITE IN SUCH A MANNER AS TO ALLOW VISITORS TO THE WEBSITE TO SEARCH FOR INFORMATION CONTAINED WITHIN SUCH ASSESSMENT-ROLLS. B. THE COMMISSIONER OF FINANCE SHALL PUBLISH INFORMATION REGARDING HOW A PROPERTY ASSESSMENT IS DERIVED ON THE DEPARTMENT OF FINANCE WEBSITE IN A SEARCHABLE DATABASE. C. THE ASSESSMENT-ROLLS AND ONLINE SEARCHABLE DATABASE PUBLISHED IN ACCORDANCE WITH THIS SECTION SHALL, AT A MINIMUM, CONTAIN THE FOLLOWING INFORMATION: (1) PROPERTY INFORMATION, INCLUDING ADDRESS, BLOCK, LOT, AND TAX CLASS; (2) A LIST OF THE COMPARABLE PROPERTIES THAT THE ASSESSORS HAVE USED FOR ASSESSMENT FOR CLASS ONE AND TWO PROPERTIES; (3) THE BASE AND OVERALL CAPITALIZATION RATES FOR CLASS FOUR PROPER- TIES; (4) THE FAIR MARKET VALUE; (5) THE TARGET ASSESSMENT RATIO; (6) THE ACTUAL ASSESSED VALUE, AS DETERMINED BY MULTIPLYING THE FAIR MARKET VALUE BY THE TARGET ASSESSMENT RATIO;EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10199-03-3 S. 5771 2
(7) WHETHER AN ASSESSMENT CAP OR TRANSITIONAL ASSESSMENT PROCESS IS IN USE, AND THE PERCENTAGE OF SUCH CAP OR THE LENGTH OF TIME USED FOR THE TRANSITION; (I) THE ASSESSED VALUE WITH THE CAP OR TRANSITION; (II) A LIST OF APPLICABLE EXEMPTIONS AND THE AMOUNT OF EACH EXEMPTION. EACH EXEMPTION SHOULD BE LINKED TO A FULL DESCRIPTION OF THE EXEMPTION; (III) THE TAXABLE ASSESSED VALUE; (IV) THE NOMINAL TAX RATE; (V) THE BASE TAX LIABILITY, AS DETERMINED BY MULTIPLYING THE TAXABLE ASSESSED VALUE BY THE NOMINAL TAX RATE; (VI) A LIST OF ABATEMENTS APPLIED AND THE AMOUNT OF EACH ABATEMENT. EACH ABATEMENT SHOULD BE LINKED TO A FULL DESCRIPTION OF THE ABATEMENT; (VII) THE FINAL TAX BILL; AND (VIII) THE EFFECTIVE TAX RATE, AS DETERMINED BY DIVIDING THE FINAL TAX BILL BY THE FAIR MARKET VALUE. S 2. This act shall take effect on the two hundred seventieth day after it shall have become a law.