Bill Text: NY A03395 | 2021-2022 | General Assembly | Introduced
Bill Title: Eliminates the New York city condominium and cooperative tax abatement for dwelling units whose billable assessed value is two hundred thousand dollars or greater and instructs that the money used to formerly fund such abatement be reallocated to the New York city housing authority; extends certain provisions of the partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more.
Spectrum: Partisan Bill (Democrat 19-0)
Status: (Introduced - Dead) 2021-12-10 - enacting clause stricken [A03395 Detail]
Download: New_York-2021-A03395-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 3395 2021-2022 Regular Sessions IN ASSEMBLY January 26, 2021 ___________ Introduced by M. of A. RODRIGUEZ, CYMBROWITZ, DICKENS, D. ROSENTHAL, J. RIVERA, CUSICK, PICHARDO, EICHENSTEIN, REYES, CRUZ, BARRON, HEVESI, EPSTEIN, GLICK, FRONTUS, BENEDETTO, TAYLOR, JOYNER, SIMON -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to partial tax abatement for residential real property held in the cooperative or condominium form of ownership 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: 1 Section 1. Subdivision 2 of section 467-a of the real property tax law 2 is amended by adding a new paragraph (b-2) to read as follows: 3 (b-2) Notwithstanding any other provision of law to the contrary for 4 fiscal years commencing in calendar years 2021 and after, the provisions 5 of this section shall not apply to any dwelling unit for which the bill- 6 able assessed value is two hundred thousand dollars or greater. 7 § 2. Paragraphs (a) and (b) of subdivision 2 of section 467-a of the 8 real property tax law, as amended by chapter 90 of the laws of 2019, are 9 amended to read as follows: 10 (a) In a city having a population of one million or more, dwelling 11 units owned by unit owners who, as of the applicable taxable status 12 date, own no more than three dwelling units in any one property held in 13 the condominium form of ownership, shall be eligible to receive a 14 partial abatement of real property taxes, as set forth in paragraphs 15 (c), (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi- 16 sion; provided, however, that a property held in the condominium form of 17 ownership that is receiving complete or partial real property tax 18 exemption or tax abatement pursuant to any other provision of this chap- 19 ter or any other state or local law, except as provided in paragraph (f) 20 of this subdivision, shall not be eligible to receive a partial abate- 21 ment pursuant to this section; and provided, further, that sponsors EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03154-01-1A. 3395 2 1 shall not be eligible to receive a partial abatement pursuant to this 2 section; and provided, further, that in the fiscal years commencing in 3 calendar years two thousand twelve through two thousand [twenty] twen- 4 ty-two no more than a maximum of three dwelling units owned by any unit 5 owner in a single building, one of which must be the primary residence 6 of such unit owner, shall be eligible to receive a partial abatement 7 pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4) of this subdivi- 8 sion. 9 (b) In a city having a population of one million or more, dwelling 10 units owned by tenant-stockholders who, as of the applicable taxable 11 status date, own no more than three dwelling units in any one property 12 held in the cooperative form of ownership, shall be eligible to receive 13 a partial abatement of real property taxes, as set forth in paragraphs 14 (c), (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi- 15 sion; provided, however, that a property held in the cooperative form of 16 ownership that is receiving complete or partial real property tax 17 exemption or tax abatement pursuant to any other provision of this chap- 18 ter or any other state or local law, except as provided in paragraph (f) 19 of this subdivision, shall not be eligible to receive a partial abate- 20 ment pursuant to this section; and provided, further, that sponsors 21 shall not be eligible to receive a partial abatement pursuant to this 22 section; and provided, further, that in the fiscal years commencing in 23 calendar years two thousand twelve through two thousand [twenty] twen- 24 ty-two no more than a maximum of three dwelling units owned by any 25 tenant-stockholder in a single building, one of which must be the prima- 26 ry residence of such tenant-stockholder, shall be eligible to receive a 27 partial abatement pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4) 28 of this subdivision. For purposes of this section, a tenant-stockholder 29 of a cooperative apartment corporation shall be deemed to own the dwell- 30 ing unit which is represented by his or her shares of stock in such 31 corporation. Any abatement so granted shall be credited by the appropri- 32 ate taxing authority against the tax due on the property as a whole. The 33 reduction in real property taxes received thereby shall be credited by 34 the cooperative apartment corporation against the amount of such taxes 35 attributable to eligible dwelling units at the time of receipt. 36 § 3. Paragraphs (d-1), (d-2), (d-3) and (d-4) of subdivision 2 of 37 section 467-a of the real property tax law, as amended by chapter 90 of 38 the laws of 2019, are amended to read as follows: 39 (d-1) In the fiscal years commencing in calendar years two thousand 40 twelve, two thousand thirteen and two thousand fourteen, eligible dwell- 41 ing units in property whose average unit assessed value is less than or 42 equal to fifty thousand dollars shall receive a partial abatement of the 43 real property taxes attributable to or due on such dwelling units of 44 twenty-five percent, twenty-six and one-half percent and twenty-eight 45 and one-tenth percent respectively. In the fiscal years commencing in 46 calendar years two thousand fifteen through two thousand [twenty] twen- 47 ty-two eligible dwelling units in property whose average unit assessed 48 value is less than or equal to fifty thousand dollars shall receive a 49 partial abatement of the real property taxes attributable to or due on 50 such dwelling units of twenty-eight and one-tenth percent. 51 (d-2) In the fiscal years commencing in calendar years two thousand 52 twelve, two thousand thirteen and two thousand fourteen, eligible dwell- 53 ing units in property whose average unit assessed value is more than 54 fifty thousand dollars, but less than or equal to fifty-five thousand 55 dollars, shall receive a partial abatement of the real property taxes 56 attributable to or due on such dwelling units of twenty-two and one-halfA. 3395 3 1 percent, twenty-three and eight-tenths percent and twenty-five and two- 2 tenths percent respectively. In the fiscal years commencing in calendar 3 years two thousand fifteen through two thousand [twenty] twenty-two 4 eligible dwelling units in property whose average unit assessed value is 5 more than fifty thousand dollars, but less than or equal to fifty-five 6 thousand dollars, shall receive a partial abatement of the real property 7 taxes attributable to or due on such dwelling units of twenty-five and 8 two-tenths percent. 9 (d-3) In the fiscal years commencing in calendar years two thousand 10 twelve, two thousand thirteen and two thousand fourteen, eligible dwell- 11 ing units in property whose average unit assessed value is more than 12 fifty-five thousand dollars, but less than or equal to sixty thousand 13 dollars, shall receive a partial abatement of the real property taxes 14 attributable to or due on such dwelling units of twenty percent, twen- 15 ty-one and two-tenths percent, and twenty-two and five-tenths percent 16 respectively. In the fiscal years commencing in calendar years two thou- 17 sand fifteen through two thousand [twenty] twenty-two eligible dwelling 18 units in property whose average unit assessed value is more than fifty- 19 five thousand dollars, but less than or equal to sixty thousand dollars, 20 shall receive a partial abatement of the real property taxes attribut- 21 able to or due on such dwelling units of twenty-two and five-tenths 22 percent. 23 (d-4) In the fiscal years commencing in calendar years two thousand 24 twelve through two thousand [twenty] twenty-two, eligible dwelling units 25 in property whose average unit assessed value is more than sixty thou- 26 sand dollars shall receive a partial abatement of the real property 27 taxes attributable to or due on such dwelling units of seventeen and 28 one-half percent. 29 § 4. Paragraph (a) of subdivision 3 of section 467-a of the real prop- 30 erty tax law, as amended by chapter 90 of the laws of 2019, is amended 31 to read as follows: 32 (a) An application for an abatement pursuant to this section for the 33 fiscal year commencing in calendar year nineteen hundred ninety-six 34 shall be made no later than the fifteenth day of September, nineteen 35 hundred ninety-six. An application for an abatement pursuant to this 36 section for the fiscal year commencing in calendar year nineteen hundred 37 ninety-seven shall be made no later than the first day of April, nine- 38 teen hundred ninety-seven. An application for an abatement pursuant to 39 this section for the fiscal year commencing in calendar year nineteen 40 hundred ninety-eight shall be made no later than the first day of April, 41 nineteen hundred ninety-eight. An application for an abatement pursuant 42 to this section for the fiscal year commencing in calendar year nineteen 43 hundred ninety-nine shall be made in accordance with this subdivision 44 and subdivision three-a of this section. An application for an abatement 45 pursuant to this section for the fiscal year commencing in calendar year 46 two thousand shall be made no later than the fifteenth day of February, 47 two thousand. An application for an abatement pursuant to this section 48 for the fiscal year commencing in calendar year two thousand one shall 49 be made in accordance with this subdivision and subdivision three-b of 50 this section. An application for an abatement pursuant to this section 51 for the fiscal year commencing in calendar year two thousand two shall 52 be made no later than the fifteenth day of February, two thousand two. 53 An application for an abatement pursuant to this section for the fiscal 54 year commencing in calendar year two thousand three shall be made no 55 later than the fifteenth day of February, two thousand three. An appli- 56 cation for an abatement pursuant to this section for the fiscal yearA. 3395 4 1 commencing in calendar year two thousand four shall be made in accord- 2 ance with this subdivision and subdivision three-c of this section. An 3 application for an abatement pursuant to this section for the fiscal 4 year commencing in calendar year two thousand five shall be made no 5 later than the fifteenth day of February, two thousand five. An applica- 6 tion for an abatement pursuant to this section for the fiscal year 7 commencing in calendar year two thousand six shall be made no later than 8 the fifteenth day of February, two thousand six. An application for an 9 abatement pursuant to this section for the fiscal year commencing in 10 calendar year two thousand seven shall be made no later than the 11 fifteenth day of February, two thousand seven. An application for abate- 12 ment pursuant to this section for the fiscal year commencing in calendar 13 year two thousand eight shall be made in accordance with this subdivi- 14 sion and subdivision three-d of this section. An application for an 15 abatement pursuant to this section for the fiscal year commencing in 16 calendar year two thousand nine shall be made no later than the 17 fifteenth day of February, two thousand nine. An application for an 18 abatement pursuant to this section for the fiscal year commencing in 19 calendar year two thousand ten shall be made no later than the fifteenth 20 day of February, two thousand ten. An application for an abatement 21 pursuant to this section for the fiscal year commencing in calendar year 22 two thousand eleven shall be made no later than the fifteenth day of 23 February, two thousand eleven. An application for an abatement pursuant 24 to this section for the fiscal years commencing in calendar years two 25 thousand twelve and two thousand thirteen shall be made in accordance 26 with subdivision three-e of this section. The date or dates by which 27 applications for an abatement pursuant to this section shall be made for 28 the fiscal years beginning in calendar years two thousand fourteen 29 through two thousand [twenty] twenty-two shall be established by the 30 commissioner of finance by rule, provided that such date or dates shall 31 not be later than the fifteenth day of February for such calendar years. 32 § 5. For fiscal years commencing in calendar years 2021 and after, the 33 New York city department of finance shall reallocate the monies used to 34 provide the partial tax abatement for residential real property held in 35 the cooperative or condominium form of ownership for dwelling units 36 whose billable assessed value is two hundred thousand dollars or great- 37 er, which are now ineligible for such tax abatement pursuant to section 38 one of this act, to be deposited in a special account in the name of the 39 New York city housing authority. Payment from such account shall be on 40 the authorization of the commissioner of the department of housing pres- 41 ervation and development. 42 § 6. This act shall take effect immediately.
