Provides that in an assessing unit which is a city the current base proportion of any class shall not exceed the adjusted base proportion or adjusted proportion of the preceding year by more than 1 1/2 precent.

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S7640A-2011 Actions

• Jun 29, 2012: SIGNED CHAP.90
• Jun 22, 2012: DELIVERED TO GOVERNOR
• Jun 20, 2012: returned to senate
• Jun 20, 2012: passed assembly
• Jun 20, 2012: ordered to third reading rules cal.280
• Jun 20, 2012: substituted for a10621
• Jun 19, 2012: referred to ways and means
• Jun 19, 2012: DELIVERED TO ASSEMBLY
• Jun 19, 2012: PASSED SENATE
• Jun 19, 2012: ORDERED TO THIRD READING CAL.1326
• Jun 11, 2012: PRINT NUMBER 7640A
• Jun 11, 2012: AMEND AND RECOMMIT TO RULES
• Jun 11, 2012: REFERRED TO RULES

S7640A-2011 Meetings

Rules: Jun 21, 2012

S7640A-2011 Calendars

Floor Calendar: Jun 19, 2012

S7640A-2011 Votes

S7640A-2011 Memo

BILL NUMBER:S7640A

TITLE OF BILL:
An act
to amend the real property tax law, in relation to the determination of
adjusted base proportions in special assessing units which are cities
for the fiscal year 2013

SUMMARY OF PROVISIONS:
This bill would amend section 1803-a of the Real Property Tax Law to
cap the maximum class growth rate at one and a half percent for
fiscal year 2013.

JUSTIFICATION:
State law requires New York City to adopt class shares based on rates
calculated by the State Board of Real Property Services (SBRPS) in
order to distribute the tax levy among the four classes of real
property. This year the State Board's class equalization rates would
cause the tax burden on property tax class one, comprised one-, two-,
and three-family homes, to increase, as it has done over the past
several years.

This bill is designed to provide relief for the residential property
tax class one without placing a burden onto class two which is the
other residential tax class. The "uncapped" current base proportions
of class one would grow by nearly 6 percent from fiscal year 2012,
under the State Board's calculations. Currently, State law provides
that the current base proportion of any one class may not exceed the
adjusted base proportion for that class from the prior year by more
than five percent.

This legislation would adjust that rule, for one year only, to cap the
maximum class growth at 1.5 percent for New York City. The effect of
this change would be to reduce the amount by which the current base
proportions for any class, including one, is allowed to grow,
resulting in citywide savings of about $40 for a typical owner of a
class one single family home. Bringing the cap any lower than 1.5
percent would provide greater savings to class one owners, but would
cause the tax rate for class two to increase. Under a cap of 1.5
percent, class two properties will see virtually the same tax rate as
they did in fiscal year 2012.

Failure to enact this legislation would leave the City Council no
option but to adopt the SBRPS formula for establishing class shares.
In that case, the estimated tax rate increase for class one would be
over 2%, which when coupled with assessment increases, would cause
significant increases in the tax bills for residential homeowners.
That tax rate increase for class one, resulting from SBRPS
procedures, is avoidable only through passage of this legislation.

FISCAL IMPLICATION:
There would be zero impact on expenditures and revenues as a result of
this legislation.

EFFECTIVE DATE:
Immediately.

S7640A-2011 Text

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

                                   7640--A

                              I N  SENATE

                                June 11, 2012
                                 ___________

  Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
    printed to be  committed  to  the  Committee  on  Rules  --  committee
    discharged, bill amended, ordered reprinted as amended and recommitted
    to said committee

  AN  ACT  to amend the real property tax law, in relation to the determi-
    nation of adjusted base proportions in special assessing  units  which
    are cities for the fiscal year 2013

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


    Section 1. Subdivision 1 of section 1803-a of the  real  property  tax
  law is amended by adding a new paragraph (x) to read as follows:

    (X)  NOTWITHSTANDING  THE PROVISIONS OF PARAGRAPH (C) OF THIS SUBDIVI-
  SION TO THE CONTRARY, IN A SPECIAL ASSESSING UNIT WHICH IS  A  CITY  AND
  FOR  CURRENT BASE PROPORTIONS TO BE DETERMINED IN SUCH SPECIAL ASSESSING
  UNIT'S FISCAL YEAR TWO THOUSAND THIRTEEN, THE CURRENT BASE PROPORTION OF
  ANY CLASS SHALL NOT EXCEED THE  ADJUSTED  BASE  PROPORTION  OR  ADJUSTED
  PROPORTION,  WHICHEVER IS APPROPRIATE, OF THE IMMEDIATELY PRECEDING YEAR
  BY MORE THAN ONE AND ONE-HALF PERCENT. WHERE THE  COMPUTATION  PERFORMED
  PURSUANT  TO  PARAGRAPH  (B) OF THIS SUBDIVISION WOULD OTHERWISE PRODUCE
  SUCH RESULT, THE CURRENT BASE PROPORTION OF SUCH CLASS OR CLASSES  SHALL
  BE  LIMITED  TO  A ONE AND ONE-HALF PERCENT INCREASE AND THE LEGISLATIVE
  BODY OF SUCH SPECIAL ASSESSING UNIT SHALL ALTER THE CURRENT BASE PROPOR-
  TION OF ANY OR ALL REMAINING CLASSES SO THAT THE SUM OF THE CURRENT BASE
  PROPORTIONS EQUALS ONE.
    S 2. In the event the special assessing unit which is a city has  sent
  out  real  property  tax  bills for its fiscal year 2013 before this act
  shall have become a law, the city shall take such actions as are  neces-
  sary,  consistent  with  applicable  state  and local law, to effect the
  provisions of section one of this act, including, but  not  limited  to,
  revising  the  current  base  proportions and adjusted base proportions,
  resetting the real property tax rates and sending amended real  property
  tax  bills.  Provided, however, that nothing in this act shall be deemed
  to affect the obligation of any taxpayer with respect to the payment  of
  any  installment of real property tax for such fiscal year which was due

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD16178-02-2

 S. 7640--A                          2

  and payable prior to the date such amended real property tax  bills  are
  sent;  for this purpose, such obligations shall be determined in accord-
  ance with the applicable provisions of law that  were  in  effect  imme-
  diately  prior to the effective date of this act, and such city shall be
  authorized to determine the date on which amended bills are to  be  sent
  and  the  installments  of  real  property tax which are to be reflected
  therein.
    S 3. This act shall take effect immediately.