Bill Text: NY A00039 | 2013-2014 | General Assembly | Introduced
Bill Title: 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.
Spectrum: Strong Partisan Bill (Democrat 21-2)
Status: (Engrossed - Dead) 2014-01-22 - committed to real property taxation [A00039 Detail]
Download: New_York-2013-A00039-Introduced.html
S T A T E O F N E W Y O R K
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39
2013-2014 Regular Sessions
I N A S S E M B L Y
(PREFILED)
January 9, 2013
___________
Introduced by M. of A. SILVER, GOLDFEDER, CUSICK, TITUS, BENEDETTO,
BROOK-KRASNY, CYMBROWITZ, GLICK, ORTIZ, TITONE, WEINSTEIN, MAISEL --
read once and referred to the Committee on Real Property Taxation
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:
1 Section 1. Short title. This act shall be known and may be cited as
2 the "New York City Hurricane Sandy Assessment Relief Act".
3 S 2. Definitions. For the purposes of this act, the following terms
4 shall have the following meanings:
5 1. "Catastrophically impacted property" shall mean a property which is
6 located in a city with a population of one million or more, and which
7 lost fifty percent or more of its value as a result of Hurricane Sandy.
8 2. "Impacted assessment roll" shall mean the assessment roll that was
9 finalized in the calendar year 2012.
10 3. "Hurricane Sandy" shall mean the storms, rains, or floods which
11 occurred within a city with a population of one million or more during
12 the period beginning on October 29, 2012 and ending November 3, 2012.
13 S 3. Local option. A city with a population of one million or more may
14 exercise the provisions of this act if its governing body shall, by the
15 forty-fifth day following the date upon which this act is approved by
16 the governor, pass a resolution adopting the provisions of this act.
17 S 4. Assessment relief for flood victims. 1. Notwithstanding any
18 provision of law to the contrary, where property was catastrophically
19 impacted by Hurricane Sandy, provided such city has adopted the
20 provisions of this act, assessment relief shall be granted as follows:
21 (a) If the property lost at least fifty but less than sixty percent of
22 its value due to Hurricane Sandy, the taxable assessed value of the
23 property shall be reduced by fifty-five percent for the impacted assess-
24 ment roll.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
A LBD04676-01-3
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1 (b) If the property lost at least sixty but less than seventy percent
2 of its value due to Hurricane Sandy, the taxable assessed value of the
3 property shall be reduced by sixty-five percent for the impacted assess-
4 ment roll.
5 (c) If the property lost at least seventy but less than eighty percent
6 of its value due to Hurricane Sandy, the taxable assessed value of the
7 property shall be reduced by seventy-five percent for the impacted
8 assessment roll.
9 (d) If the property lost at least eighty but less than ninety percent
10 of its value due to Hurricane Sandy, the taxable assessed value of the
11 property shall be reduced by eighty-five percent for the impacted
12 assessment roll.
13 (e) If the property lost at least ninety but less than one hundred
14 percent of its value due to Hurricane Sandy, the taxable assessed value
15 of the property shall be reduced by ninety-five percent for the impacted
16 assessment roll.
17 (f) If the property lost all of its value due to Hurricane Sandy, the
18 taxable assessed value of the property shall be reduced to zero for the
19 impacted assessment roll.
20 (g) The percentage loss in value for the purpose of this act shall be
21 determined by the New York city department of finance in the manner
22 provided by this act, subject to review by the New York city tax commis-
23 sion.
24 (h) No reduction in taxable assessed value shall be granted pursuant
25 to this act except as specified above.
26 2. To receive such relief pursuant to this act, the property owner
27 shall submit a written request to the New York city department of
28 finance within ninety days following the date upon which this act is
29 approved by the governor. Such request need not be in a particular
30 format but shall describe in reasonable detail the damage caused to the
31 property by Hurricane Sandy and the condition of the property following
32 the hurricane, and shall be accompanied by supporting documentation if
33 available.
34 3. Upon receiving such a request, the New York city department of
35 finance shall make a finding as to whether the property lost at least
36 half of its value as a result of Hurricane Sandy, and if so, shall clas-
37 sify the percentage loss of value within one of the following ranges:
38 (a) at least fifty percent but less than sixty percent,
39 (b) at least sixty percent but less than seventy percent,
40 (c) at least seventy percent but less than eighty percent,
41 (d) at least eighty percent but less than ninety percent,
42 (e) at least ninety percent but less than one hundred percent, or
43 (f) one hundred percent.
44 4. The New York city department of finance shall provide written
45 notice of such finding to the property owner. The property owner may
46 appeal the New York city department of finance's finding to the New York
47 city tax commission. Upon receipt of such appeal, the New York city tax
48 commission shall reconvene upon ten days written notice to the property
49 owner and the New York city department of finance to hear the appeal and
50 determine the matter, and shall provide written notice of its determi-
51 nation to the New York city department of finance and property owner.
52 The provisions of article 5 of the real property tax law shall govern
53 the review process to the extent practicable.
54 5. Where property has been determined to have lost at least fifty
55 percent of its value due to Hurricane Sandy, the taxable assessed value
56 of the property on the impacted assessment roll shall be reduced by the
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1 appropriate percentage specified in subdivision one of this section,
2 provided that any exemptions which the property may be receiving shall
3 be adjusted as necessary to account for such reduction in the taxable
4 assessed value. To the extent the taxable assessed value of the property
5 originally appearing on such roll exceeds the amount to which it should
6 be reduced pursuant to this act, the excess shall be considered a cler-
7 ical error. The error shall be corrected, and a refund or credit shall
8 be provided in a manner consistent with section 11-206 of the adminis-
9 trative code of the city of New York.
10 6. The rights contained in this act shall not otherwise diminish any
11 other legally available right of any property owner or party who may
12 otherwise lawfully challenge the valuation or assessment of any real
13 property or improvements thereon. All remaining rights hereby remain and
14 shall be available to the party to whom such rights would otherwise be
15 available notwithstanding this act.
16 S 5. School district held harmless. The city school district of the
17 city of New York shall be held harmless by the state for any reduction
18 in state aid that would have been paid as tax savings pursuant to
19 section 1306-a of the real property tax law incurred due to the
20 provisions of this act.
21 S 6. This act shall take effect immediately and shall be deemed to
22 have been in full force and effect on and after October 26, 2012.
