Assembly Bill A4042

2021-2022 Legislative Session

Provides that in proceedings to review real property assessments in N.Y. city assessing method, capitalization rate, etc. must be disclosed

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2021-A4042 (ACTIVE) - Details

See Senate Version of this Bill:
S4038
Current Committee:
Assembly Ways And Means
Law Section:
Real Property Tax Law
Laws Affected:
Amd §714, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A1492
2011-2012: A4512
2013-2014: A2927
2015-2016: A3952
2017-2018: A7271
2019-2020: A3242, S7594
2023-2024: S2460

2021-A4042 (ACTIVE) - Summary

Provides that in judicial proceedings to review real property assessments in cities of one million or more inhabitants, the assessing method, capitalization rate, and other data or formula used to determine valuation must be disclosed to the petitioner.

2021-A4042 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4042
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 1, 2021
                                ___________
 
 Introduced  by M. of A. DICKENS -- read once and referred to the Commit-
   tee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to requiring  the
   disclosure  to  the petitioner of the assessing method, capitalization
   rate, and certain other information used to determine valuation by the
   respondent in a judicial proceeding brought to review an assessment of
   real property in a city having a population of one million or more
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision 2 of section 714 of the real property tax law
 is amended to read as follows:
   2.  If the respondent has not served an answer or moved to dismiss the
 petition prior to the service of a note of issue, except as hereinbefore
 provided, in order to raise an objection to the sufficiency of the peti-
 tion or assert an affirmative defense upon the hearing, he OR  SHE  must
 serve  upon the petitioner within forty days after the service of a note
 of issue, a  notice  containing  a  statement  of  the  nature  of  such
 objection  or such defense, unless for good cause the time to serve such
 notice is extended by the court or a justice thereof,  on  an  order  to
 show  cause.   Unless the petitioner and respondent stipulate in writing
 for a hearing at an earlier date, no hearing shall  be  held  less  than
 thirty  days  after  service  of  such notice upon the petitioner.   THE
 ANSWER OR NOTICE SERVED PURSUANT TO THE PROVISIONS OF  THIS  SUBDIVISION
 SHALL  DISCLOSE THE ASSESSING METHOD USED, ANY CAPITALIZATION RATE USED,
 AND ANY OTHER DATA OR FORMULA USED TO DETERMINE  THE  VALUATION  OF  THE
 REAL PROPERTY.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law and shall apply to proceedings commenced or pending on
 or after its effective date, and, in addition,  the  disclosure  of  the
 information  required  to be disclosed by the amendment made to subdivi-
 sion 2 of section 714 of the real property tax law  by  section  one  of
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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