Bill Text: NY A04312 | 2015-2016 | General Assembly | Introduced
Bill Title: Relates to real property tax exemptions for certain private homes from local taxation in cities with a population of one million or more.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2016-01-06 - referred to real property taxation [A04312 Detail]
Download: New_York-2015-A04312-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
4312
2015-2016 Regular Sessions
I N A S S E M B L Y
January 30, 2015
___________
Introduced by M. of A. BRENNAN, COLTON, CUSICK -- read once and referred
to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to exemption of
certain private homes from local taxation in cities with 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. The real property tax law is amended by adding a new
2 section 421-o to read as follows:
3 S 421-O. EXEMPTION OF CERTAIN PRIVATE HOMES FROM LOCAL TAXATION. 1.
4 FOR PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOW-
5 ING MEANINGS:
6 (A) "COMMENCE CONSTRUCTION" SHALL MEAN THAT THE AGENCY OR DEPARTMENT
7 OF THE CITY HAVING JURISDICTION HAS ISSUED A PERMIT FOR CONSTRUCTION OF
8 A PRIVATE HOME AND SUCH WORK HAS BEGUN IN GOOD FAITH IN ACCORDANCE WITH
9 SUCH PERMIT.
10 (B) "COMPLETE CONSTRUCTION" SHALL MEAN THAT THE AGENCY OR THE DEPART-
11 MENT OF THE CITY HAVING JURISDICTION HAS ISSUED A TEMPORARY OR PERMANENT
12 CERTIFICATE OF OCCUPANCY FOR ALL RESIDENTIAL AREAS OF THE PRIVATE HOME.
13 (C) "ELIGIBLE PROJECT" SHALL MEAN A NEWLY CONSTRUCTED PRIVATE HOME,
14 INCLUDING BOTH LAND AND IMPROVEMENTS, TO BE OCCUPIED AS A RESIDENCE FOR
15 THE FIRST TIME, WHICH COMMENCES CONSTRUCTION ON OR AFTER JULY FIRST, TWO
16 THOUSAND FIFTEEN AND ON OR BEFORE DECEMBER THIRTY-FIRST, TWO THOUSAND
17 TWENTY AND COMPLETES CONSTRUCTION NO LATER THAN DECEMBER THIRTY-FIRST,
18 TWO THOUSAND TWENTY-TWO, AND WHICH IS DESIGNED AND OCCUPIED EXCLUSIVELY
19 FOR RESIDENTIAL PURPOSES.
20 (D) "EXEMPTION COMMENCEMENT DATE" SHALL MEAN THE FIRST TAXABLE STATUS
21 DATE AFTER THE LATER TO OCCUR OF THE COMPLETION OF SUCH CONSTRUCTION OR
22 THE SALE TO THE INITIAL PURCHASER OR, IN THE CASE OF A PRIVATE HOME IN A
23 CONDOMINIUM FORM OF OWNERSHIP, THE FIRST TAXABLE STATUS DATE AFTER THE
24 LATER TO OCCUR OF THE COMPLETION OF SUCH CONSTRUCTION OR THE SALE TO THE
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01716-01-5
A. 4312 2
1 FIRST INITIAL PURCHASER OF A CONDOMINIUM DWELLING UNIT IN SUCH PRIVATE
2 HOME.
3 (E) "INITIAL PURCHASER" SHALL MEAN THE FIRST PURCHASER OF A NEWLY
4 CONSTRUCTED PRIVATE HOME OR, IN THE CASE OF A PRIVATE HOME IN A CONDO-
5 MINIUM FORM OF OWNERSHIP, THE FIRST PURCHASER OF EACH DWELLING UNIT IN
6 SUCH NEWLY CONSTRUCTED PRIVATE HOME.
7 (F) "LOCAL HOUSING AGENCY" SHALL MEAN AN "AGENCY" AS DEFINED PURSUANT
8 TO SECTION SIX HUNDRED NINETY-TWO OF THE GENERAL MUNICIPAL LAW.
9 (G) "MAXIMUM PURCHASE PRICE" SHALL MEAN A SALES PRICE TO THE INITIAL
10 PURCHASER, OR, IN THE CASE OF A PRIVATE HOME IN A CONDOMINIUM FORM OF
11 OWNERSHIP, AN AGGREGATE SALES PRICE TO ALL INITIAL PURCHASES, OF (I)
12 FIVE HUNDRED ONE THOUSAND TWO HUNDRED DOLLARS IN THE CASE OF A PRIVATE
13 HOME CONTAINING ONE DWELLING UNIT, (II) FIVE HUNDRED NINETY-FOUR THOU-
14 SAND SIX HUNDRED THREE DOLLARS IN THE CASE OF A PRIVATE HOME CONTAINING
15 TWO DWELLING UNITS, AND (III) SEVEN HUNDRED ELEVEN THOUSAND DOLLARS IN
16 THE CASE OF A PRIVATE HOME CONTAINING THREE DWELLING UNITS. THE MAXIMUM
17 PURCHASE PRICES PROVIDED IN SUBPARAGRAPHS (I), (II) AND (III) OF THIS
18 PARAGRAPH SHALL BE INCREASED BY THREE PERCENT, COMPOUNDED ANNUALLY, ON
19 EACH TAXABLE STATUS DATE FOLLOWING THE FIRST ANNIVERSARY OF THE EFFEC-
20 TIVE DATE OF THIS SECTION.
21 (H) "MULTIPLE DWELLING" SHALL MEAN A MULTIPLE DWELLING WITHIN THE
22 MEANING OF SECTION FOUR OF THE MULTIPLE DWELLING LAW.
23 (I) "PRIVATE HOME" SHALL MEAN AN OWNER OCCUPIED PRIVATE OR MULTIPLE
24 DWELLING CONTAINING NOT MORE THAN THREE DWELLING UNITS, AS INDICATED ON
25 THE CERTIFICATE OF OCCUPANCY FOR SUCH STRUCTURE.
26 2. (A) WITHIN A CITY HAVING A POPULATION OF ONE MILLION OR MORE, AN
27 ELIGIBLE PROJECT SHALL BE EXEMPT FROM ALL LOCAL AND MUNICIPAL TAXES,
28 OTHER THAN ASSESSMENTS FOR LOCAL IMPROVEMENTS, DURING THE TAX YEAR OR
29 YEARS NEXT FOLLOWING THE EXEMPTION COMMENCEMENT DATE AS FOLLOWS: (I)
30 WITH RESPECT TO PRIVATE HOMES CONTAINING LESS THAN THREE DWELLING UNITS,
31 TWO YEARS OF EXEMPTION FROM ALL SUCH TAXES; FOLLOWED BY ONE YEAR OF
32 EXEMPTION FROM SEVENTY-FIVE PERCENT OF SUCH TAXES; FOLLOWED BY ONE YEAR
33 OF EXEMPTION FROM SIXTY-TWO AND ONE-HALF PERCENT OF SUCH TAXES; FOLLOWED
34 BY ONE YEAR OF EXEMPTION FROM FIFTY PERCENT OF SUCH TAXES; FOLLOWED BY
35 ONE YEAR OF EXEMPTION FROM THIRTY-SEVEN AND ONE-HALF PERCENT OF SUCH
36 TAXES; FOLLOWED BY ONE YEAR OF EXEMPTION FROM TWENTY-FIVE PERCENT OF
37 SUCH TAXES; AND FOLLOWED BY ONE YEAR OF EXEMPTION FROM TWELVE AND
38 ONE-HALF PERCENT OF SUCH TAXES, AND (II) WITH RESPECT TO PRIVATE HOMES
39 CONTAINING THREE DWELLING UNITS, ELEVEN YEARS OF EXEMPTION FROM ALL SUCH
40 TAXES; FOLLOWED BY ONE YEAR OF EXEMPTION FROM EIGHTY PERCENT OF SUCH
41 TAXES; FOLLOWED BY ONE YEAR OF EXEMPTION FROM SIXTY PERCENT OF SUCH
42 TAXES; FOLLOWED BY ONE YEAR OF EXEMPTION FROM FORTY PERCENT OF SUCH
43 TAXES; AND FOLLOWED BY ONE YEAR OF EXEMPTION FROM TWENTY PERCENT OF SUCH
44 TAXES.
45 (B) NOTWITHSTANDING THE PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVI-
46 SION, EXEMPTION FROM LOCAL AND MUNICIPAL TAXES UNDER THIS SECTION SHALL
47 NOT BE AVAILABLE TO THE TAX LOT (LAND AND IMPROVEMENTS) UPON WHICH A
48 PRIVATE HOME IS CONSTRUCTED IF ANY PORTION OF SUCH TAX LOT (LAND AND
49 IMPROVEMENTS): (I) IS EXEMPT FROM LOCAL AND MUNICIPAL TAXES UNDER ANY
50 OTHER LAW; (II) CONTAINS A PRIVATE HOME THAT EXCEEDS THE MAXIMUM
51 PURCHASE PRICE; OR (III) PREVIOUSLY CONTAINED A PRIVATE OR MULTIPLE
52 DWELLING THAT HAS BEEN FULLY DEMOLISHED AND REMOVED AND LESS THAN THREE
53 YEARS HAVE ELAPSED BETWEEN THE DATE OF INSURANCE OF THE PERMIT AUTHORIZ-
54 ING SUCH DEMOLITION AND REMOVAL AND THE DATE THAT THE NEW PRIVATE HOME
55 COMMENCES CONSTRUCTION.
A. 4312 3
1 (C) NOTWITHSTANDING THE PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVI-
2 SION, THE TAX LOT (LAND AND IMPROVEMENTS) UPON WHICH THE PRIVATE HOME IS
3 CONSTRUCTED SHALL AT ALL TIMES BE SUBJECT TO LOCAL AND MUNICIPAL TAXES
4 IN AN AMOUNT NOT LESS THAN THE AMOUNT OF LOCAL AND MUNICIPAL TAXES THAT
5 WOULD BE PAYABLE THEREON BASED UPON THE ASSESSED VALUATION OF THE LAND
6 APPEARING ON THE ASSESSMENT ROLL IN THE FIRST YEAR AFTER COMPLETION OF
7 CONSTRUCTION.
8 3. (A) BASED ON THE CERTIFICATION OF THE LOCAL HOUSING AGENCY PURSUANT
9 TO THIS SECTION CERTIFYING ELIGIBILITY FOR EXEMPTION PURSUANT TO THIS
10 SECTION, THE DEPARTMENT OF FINANCE OF THE CITY OF NEW YORK SHALL IMPLE-
11 MENT THE AMOUNT OF EXEMPTION FROM LOCAL AND MUNICIPAL TAXES.
12 (B) THE LOCAL HOUSING AGENCY MAY PROMULGATE RULES AND REGULATIONS TO
13 CARRY OUT THE PROVISIONS OF THIS SECTION AND MAY REQUIRE PAYMENT OF A
14 NON-REFUNDABLE FILING FEE IN THE AMOUNT OF TWO HUNDRED DOLLARS PER
15 DWELLING UNIT FOR EACH APPLICATION FOR TAX EXEMPTION PURSUANT TO THIS
16 SECTION.
17 (C) UPON A FINDING BY THE LOCAL HOUSING AGENCY OR BY ANOTHER AGENCY
18 DESIGNATED BY SUCH LOCAL HOUSING AGENCY THAT A PRIVATE HOME IS NOT BEING
19 USED FOR RESIDENTIAL PURPOSES, IS THE SUBJECT OF A VIOLATION FOR AN
20 ILLEGAL OCCUPANCY, IS NOT OWNER OCCUPIED OR HAS BEEN SOLD TO SOMEONE
21 OTHER THAN THE INITIAL PURCHASER, EXEMPTION FROM TAXATION UNDER THIS
22 SECTION SHALL BE REVOKED AND SHALL TERMINATE PROSPECTIVELY; PROVIDED,
23 HOWEVER, THAT IN THE CASE OF AN ILLEGAL OCCUPANCY, THE OWNER SHALL REPAY
24 ALL TAXES, WITH INTEREST, FROM WHICH SUCH PRIVATE HOME WAS EXEMPTED AND
25 SUCH AMOUNT, IF UNPAID, SHALL BECOME A TAX LIEN AGAINST THE PROPERTY.
26 S 2. This act shall take effect immediately.
