Bill Text: NY S00538 | 2013-2014 | General Assembly | Introduced

---

Bill Title: Provides certain real property a 15% tax exemption.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2014-01-08 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S00538 Detail]

Download: New_York-2013-S00538-Introduced.html

---

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          538
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced  by  Sen. KENNEDY -- read twice and ordered printed, and when
         printed to be committed to the Committee on Housing, Construction  and
         Community Development
       AN  ACT  to  amend  the  real property tax law, in relation to providing
         certain real property a 15% tax exemption
         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-n to read as follows:
    3    S 421-N. EXEMPTION OF CERTAIN RESIDENTIAL PROPERTY  FROM  LOCAL  TAXA-
    4  TION. 1. NOTWITHSTANDING THE PROVISIONS OF ANY GENERAL, SPECIAL OR LOCAL
    5  LAW  TO  THE  CONTRARY,  THE LOCAL LEGISLATIVE BODY OF ANY CITY, TOWN OR
    6  VILLAGE IS HEREBY AUTHORIZED AND EMPOWERED TO ADOPT AND  AMEND  A  LOCAL
    7  LAW TO PROVIDE THAT REAL PROPERTY:
    8    (A) HELD IN CONDOMINIUM FORM OF OWNERSHIP;
    9    (B) THAT OTHERWISE SATISFIES THE PROVISIONS AND COMMON ELEMENTS ESTAB-
   10  LISHED  BY  ARTICLE NINE-B OF THE REAL PROPERTY LAW FOR CLASSIFYING REAL
   11  PROPERTY AS A CONDOMINIUM; AND
   12    (C) BUT FOR THE FAILURE OF THE DEVELOPER OR OWNER OF SUCH REAL PROPER-
   13  TY TO FILE THE NECESSARY APPLICATION REQUIRED  TO  OBTAIN  THE  SEPARATE
   14  ASSESSMENT  AND TAXATION PROVIDED IN SECTION THREE HUNDRED THIRTY-NINE-Y
   15  OF THE REAL PROPERTY LAW, MAY HAVE BEEN ELIGIBLE FOR SUCH ASSESSMENT AND
   16  TAXATION, SHALL BE EXEMPT FROM TAXATION TO THE EXTENT OF FIFTEEN PERCENT
   17  OF THE ASSESSED VALUE OF SUCH PROPERTY.
   18    2. THE EXEMPTION FROM TAXATION  PROVIDED  BY  THIS  SECTION  SHALL  BE
   19  APPLICABLE TO COUNTY, CITY, SCHOOL, TOWN AND VILLAGE TAXATION.
   20    3.  APPLICATION FOR EXEMPTION MUST BE MADE BY THE OWNER, OR ALL OF THE
   21  OWNERS, OF SUCH PROPERTY ON A FORM PRESCRIBED  BY  THE  COMMISSIONER  OF
   22  TAXATION  AND FINANCE. THE OWNER OR OWNERS SHALL FILE THE COMPLETED FORM
   23  IN THE ASSESSOR'S OFFICE ON OR BEFORE THE APPROPRIATE  TAXABLE    STATUS
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD03971-01-3
       S. 538                              2
    1  DATE.  PROVIDED  THAT  ALL ELIGIBILITY CRITERIA OF THIS SECTION ARE MET,
    2  THE EXEMPTION SHALL CONTINUE IN FULL FORCE AND EFFECT FOR ALL  APPROPRI-
    3  ATE  SUBSEQUENT  TAX YEARS AND THE OWNER OR OWNERS OF THE PROPERTY SHALL
    4  NOT BE REQUIRED TO RE-FILE EACH YEAR.
    5    4. A LOCAL LAW ADOPTED PURSUANT TO THIS SUBDIVISION MAY BE REPEALED BY
    6  THE  GOVERNING  BOARD  OF  THE APPLICABLE COUNTY, CITY, TOWN OR VILLAGE.
    7  SUCH REPEAL SHALL OCCUR AT LEAST NINETY DAYS PRIOR TO THE TAXABLE STATUS
    8  DATE OF SUCH COUNTY, CITY, TOWN OR VILLAGE.
    9    5. NOTWITHSTANDING THE FOREGOING PROVISIONS OF THIS SECTION, NO  LATER
   10  THAN  NINETY  DAYS  BEFORE  THE  TAXABLE STATUS DATE NEXT OCCURRING, THE
   11  GOVERNING BOARD OF ANY COUNTY, CITY, TOWN OR VILLAGE MAY ADOPT  A  LOCAL
   12  LAW  TO  PROVIDE  THAT  NO  EXEMPTION  SHALL BE GRANTED PURSUANT TO THIS
   13  SECTION FOR THE PURPOSE OF TAXES LEVIED FOR SUCH COUNTY, CITY,  TOWN  OR
   14  VILLAGE.
   15    S 2. This act shall take effect immediately.