Bill S7082-2013

Exempts costs associated with revaluations or reassessments from the tax levy limit on real property

Exempts cost associated with revaluations or reassessments from the tax levy limit on real property.

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  • Apr 24, 2014: REFERRED TO LOCAL GOVERNMENT

Memo

BILL NUMBER:S7082

TITLE OF BILL: An act to amend the general municipal law, in relation to exempting the costs associated with real property revaluation or reassessment for the tax levy limit

PURPOSE OR GENERAL IDEA OF BILL: This bill exempts from the tax levy limit imposed on local governments all costs associated with real property revaluations or reassessments.

SUMMARY OF SPECIFIC PROVISIONS: This bill amends Section 3-c(2)(g)(iv) of the general municipal law, as added by section 1 of part A of chapter 97 of the laws of 2011, by adding a new subparagraph (v) which provides that the tax levy limit shall not include the costs associated with real property revaluations or reassessments.

JUSTIFICATION: This bill is designed to encourage and assist local governments to update their real property assessments.

Because properties have appreciated/depreciated differently over time, real property assessments in numerous municipalities have become outdated and unfair. Reassessment ensures that property owners pay their fair share of the tax burden. It does not raise more tax dollars.

Municipalities have been reluctant to reassess - especially because of the high costs of reassessment. The recently enacted "tax cap" is further discouraging local governments from undertaking necessary reassessment of real property since the costs of reassessment are currently included in a local government's allowable tax levy limit.

This bill would allow local governments to exclude the costs of conducting reassessments of real property from the allowable tax levy cap.

EXISTING LAW: Current law does not address this issue.

PRIOR LEGISLATIVE HISTORY: 2012: A.10466 referred to real property taxation

FISCAL IMPLICATIONS: None

EFFECTIVE DATE: Immediately. However, this act does not affect the repeal of general municipal law section 3-c as currently set forth therein.


Text

STATE OF NEW YORK ________________________________________________________________________ 7082 IN SENATE April 24, 2014 ___________
Introduced by Sen. LATIMER -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the general municipal law, in relation to exempting the costs associated with real property revaluation or reassessment for the tax levy limit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (iv) of paragraph (g) of subdivision 2 of section 3-c of the general municipal law, as added by section 1 of part A of chapter 97 of the laws of 2011, is amended and a new subparagraph (v) is added to read as follows: (iv) in years in which the normal contribution rate of the New York state teachers' retirement system, as defined by paragraph a of subdivi- sion two of section five hundred seventeen of the education law, increases by more than two percentage points from the previous year, a tax levy necessary for expenditures for the coming fiscal year for local government employer contributions to the New York state teachers' retirement system caused by growth in the normal contribution rate minus two percentage points[.]; (V) ALL COSTS ASSOCIATED WITH REAL PROPERTY REVALUATIONS OR REASSESS- MENTS. S 2. Paragraph (a) of subdivision 3 of section 3-c of the general municipal law, as added by section 1 of part A of chapter 97 of the laws of 2011, is amended to read as follows: (a) Subject to the provisions of subdivision five of this section, beginning with the fiscal year that begins in two thousand twelve, no local government shall adopt a budget that requires a tax levy that is greater than the tax levy limit for the coming fiscal year. Provided however the tax levy limit shall not prohibit a levy necessary to support the expenditures pursuant to subparagraphs (i) through [(iv)] (V) of paragraph (g) of subdivision two of this section. S 3. Subdivision 5 of section 3-c of the general municipal law, as added by section 1 of part A of chapter 97 of the laws of 2011, is amended to read as follows:
5. A local government may adopt a budget that requires a tax levy that is greater than the tax levy limit for the coming fiscal year, not including any levy necessary to support the expenditures pursuant to subparagraphs (i) through [(iv)] (V) of paragraph [g] (G) of subdivision two of this section, only if the governing body of such local government first enacts, by a vote of sixty percent of the total voting power of such body, a local law to override such limit for such coming fiscal year only, or in the case of a district or fire district, a resolution, approved by a vote of sixty percent of the total voting power of such body, to override such limit for such coming fiscal year only. S 4. This act shall take effect immediately; provided, however, that the amendments to section 3-c of the general municipal law made by sections one, two, and three of this act shall not affect the repeal of such section and shall be deemed repealed therewith.

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