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A07092 Summary:

BILL NOA07092
 
SAME ASNo Same As
 
SPONSORRodriguez
 
COSPNSR
 
MLTSPNSR
 
Amd 467-a, RPT L
 
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 Development Corporation; 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.
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A07092 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7092
 
                               2019-2020 Regular Sessions
 
                   IN ASSEMBLY
 
                                      April 5, 2019
                                       ___________
 
        Introduced  by  M.  of  A.  RODRIGUEZ  --  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,  the
     4  provisions  of  this  section  shall  not apply to any dwelling unit for
     5  which the billable assessed value is two  hundred  thousand  dollars  or
     6  greater.
     7    §  2.  Paragraphs (a) and (b) of subdivision 2 of section 467-a of the
     8  real property tax law, as amended by section 61 of part A of chapter  20
     9  of the laws of 2015, are 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
    22  shall not be eligible to receive a partial abatement  pursuant  to  this
    23  section;  and  provided, further, that in the fiscal years commencing in
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10319-04-9

        A. 7092                             2
 
     1  calendar years two thousand twelve[, two thousand thirteen, two thousand
     2  fourteen, two thousand  fifteen,  two  thousand  sixteen,  two  thousand
     3  seventeen  or  two thousand eighteen] through two thousand twenty-one no
     4  more than a maximum of three dwelling units owned by any unit owner in a
     5  single building, one of which must be the primary residence of such unit
     6  owner,  shall  be  eligible  to  receive a partial abatement pursuant to
     7  paragraphs (d-1), (d-2), (d-3) and (d-4) of this subdivision.
     8    (b) In a city having a population of one  million  or  more,  dwelling
     9  units  owned  by  tenant-stockholders  who, as of the applicable taxable
    10  status date, own no more than three dwelling units in any  one  property
    11  held  in the cooperative form of ownership, shall be eligible to receive
    12  a partial abatement of real property taxes, as set forth  in  paragraphs
    13  (c),  (d),  (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi-
    14  sion; provided, however, that a property held in the cooperative form of
    15  ownership that is  receiving  complete  or  partial  real  property  tax
    16  exemption or tax abatement pursuant to any other provision of this chap-
    17  ter or any other state or local law, except as provided in paragraph (f)
    18  of  this  subdivision, shall not be eligible to receive a partial abate-
    19  ment pursuant to this section;  and  provided,  further,  that  sponsors
    20  shall  not  be  eligible to receive a partial abatement pursuant to this
    21  section; and provided, further, that in the fiscal years  commencing  in
    22  calendar years two thousand twelve[, two thousand thirteen, two thousand
    23  fourteen,  two  thousand  fifteen,  two  thousand  sixteen, two thousand
    24  seventeen or two thousand eighteen] through two thousand  twenty-one  no
    25  more  than  a maximum of three dwelling units owned by any tenant-stock-
    26  holder in a single building, one of which must be the primary  residence
    27  of  such  tenant-stockholder,  shall  be  eligible  to receive a partial
    28  abatement pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4)  of  this
    29  subdivision.  For  purposes  of  this section, a tenant-stockholder of a
    30  cooperative apartment corporation shall be deemed to  own  the  dwelling
    31  unit  which  is represented by his or her shares of stock in such corpo-
    32  ration. Any abatement so granted shall be credited  by  the  appropriate
    33  taxing  authority  against  the  tax due on the property as a whole. The
    34  reduction in real property taxes received thereby shall be  credited  by
    35  the  cooperative  apartment corporation against the amount of such taxes
    36  attributable to eligible dwelling units at the time of receipt.
    37    § 3. Paragraphs (d-1), (d-2), (d-3) and  (d-4)  of  subdivision  2  of
    38  section  467-a of the real property tax law, as amended by section 62 of
    39  part A of chapter 20 of the  laws  of  2015,  are  amended  to  read  as
    40  follows:
    41    (d-1)  In  the  fiscal years commencing in calendar years two thousand
    42  twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
    43  ing units in property whose average unit assessed value is less than  or
    44  equal to fifty thousand dollars shall receive a partial abatement of the
    45  real  property  taxes  attributable  to or due on such dwelling units of
    46  twenty-five percent, twenty-six and one-half  percent  and  twenty-eight
    47  and  one-tenth  percent  respectively. In the fiscal years commencing in
    48  calendar years two thousand fifteen[, two thousand sixteen, two thousand
    49  seventeen and two thousand eighteen]  through  two  thousand  twenty-one
    50  eligible dwelling units in property whose average unit assessed value is
    51  less  than  or  equal  to fifty thousand dollars shall receive a partial
    52  abatement of the real property taxes attributable  to  or  due  on  such
    53  dwelling units of twenty-eight and one-tenth percent.
    54    (d-2)  In  the  fiscal years commencing in calendar years two thousand
    55  twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
    56  ing units in property whose average unit assessed  value  is  more  than

        A. 7092                             3
 
     1  fifty  thousand  dollars,  but less than or equal to fifty-five thousand
     2  dollars, shall receive a partial abatement of the  real  property  taxes
     3  attributable to or due on such dwelling units of twenty-two and one-half
     4  percent,  twenty-three and eight-tenths percent and twenty-five and two-
     5  tenths percent respectively. In the fiscal years commencing in  calendar
     6  years  two  thousand fifteen[, two thousand sixteen, two thousand seven-
     7  teen and two thousand eighteen] through two thousand twenty-one eligible
     8  dwelling units in property whose average unit  assessed  value  is  more
     9  than  fifty thousand dollars, but less than or equal to fifty-five thou-
    10  sand dollars, shall receive a partial abatement  of  the  real  property
    11  taxes  attributable  to or due on such dwelling units of twenty-five and
    12  two-tenths percent.
    13    (d-3) In the fiscal years commencing in calendar  years  two  thousand
    14  twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
    15  ing  units  in  property  whose average unit assessed value is more than
    16  fifty-five thousand dollars, but less than or equal  to  sixty  thousand
    17  dollars,  shall  receive  a partial abatement of the real property taxes
    18  attributable to or due on such dwelling units of twenty  percent,  twen-
    19  ty-one  and  two-tenths  percent, and twenty-two and five-tenths percent
    20  respectively. In the fiscal years commencing in calendar years two thou-
    21  sand fifteen[, two thousand sixteen,  two  thousand  seventeen  and  two
    22  thousand  eighteen]  through  two  thousand twenty-one eligible dwelling
    23  units in property whose average unit assessed value is more than  fifty-
    24  five thousand dollars, but less than or equal to sixty thousand dollars,
    25  shall  receive  a partial abatement of the real property taxes attribut-
    26  able to or due on such dwelling  units  of  twenty-two  and  five-tenths
    27  percent.
    28    (d-4)  In  the  fiscal years commencing in calendar years two thousand
    29  twelve[, two thousand thirteen,  two  thousand  fourteen,  two  thousand
    30  fifteen,  two  thousand sixteen, two thousand seventeen and two thousand
    31  eighteen] through two thousand twenty-one, eligible  dwelling  units  in
    32  property  whose  average unit assessed value is more than sixty thousand
    33  dollars shall receive a partial abatement of  the  real  property  taxes
    34  attributable  to or due on such dwelling units of seventeen and one-half
    35  percent.
    36    § 4. Paragraph (a) of subdivision 3 of section 467-a of the real prop-
    37  erty tax law, as amended by section 63 of part A of chapter  20  of  the
    38  laws of 2015, is amended to read as follows:
    39    (a)  An  application for an abatement pursuant to this section for the
    40  fiscal year commencing in  calendar  year  nineteen  hundred  ninety-six
    41  shall  be  made  no  later than the fifteenth day of September, nineteen
    42  hundred ninety-six. An application for an  abatement  pursuant  to  this
    43  section for the fiscal year commencing in calendar year nineteen hundred
    44  ninety-seven  shall  be made no later than the first day of April, nine-
    45  teen hundred ninety-seven. An application for an abatement  pursuant  to
    46  this  section  for  the fiscal year commencing in calendar year nineteen
    47  hundred ninety-eight shall be made no later than the first day of April,
    48  nineteen hundred ninety-eight. An application for an abatement  pursuant
    49  to this section for the fiscal year commencing in calendar year nineteen
    50  hundred  ninety-nine  shall  be made in accordance with this subdivision
    51  and subdivision three-a of this section. An application for an abatement
    52  pursuant to this section for the fiscal year commencing in calendar year
    53  two thousand shall be made no later than the fifteenth day of  February,
    54  two  thousand.  An application for an abatement pursuant to this section
    55  for the fiscal year commencing in calendar year two thousand  one  shall
    56  be  made  in accordance with this subdivision and subdivision three-b of

        A. 7092                             4
 
     1  this section. An application for an abatement pursuant to  this  section
     2  for  the  fiscal year commencing in calendar year two thousand two shall
     3  be made no later than the fifteenth day of February, two  thousand  two.
     4  An  application for an abatement pursuant to this section for the fiscal
     5  year commencing in calendar year two thousand three  shall  be  made  no
     6  later  than the fifteenth day of February, two thousand three. An appli-
     7  cation for an abatement pursuant to this section  for  the  fiscal  year
     8  commencing  in  calendar year two thousand four shall be made in accord-
     9  ance with this subdivision and subdivision three-c of this  section.  An
    10  application  for  an  abatement  pursuant to this section for the fiscal
    11  year commencing in calendar year two thousand  five  shall  be  made  no
    12  later than the fifteenth day of February, two thousand five. An applica-
    13  tion  for  an  abatement  pursuant  to  this section for the fiscal year
    14  commencing in calendar year two thousand six shall be made no later than
    15  the fifteenth day of February, two thousand six. An application  for  an
    16  abatement  pursuant  to  this  section for the fiscal year commencing in
    17  calendar year two thousand  seven  shall  be  made  no  later  than  the
    18  fifteenth day of February, two thousand seven. An application for abate-
    19  ment pursuant to this section for the fiscal year commencing in calendar
    20  year  two  thousand eight shall be made in accordance with this subdivi-
    21  sion and subdivision three-d of this  section.  An  application  for  an
    22  abatement  pursuant  to  this  section for the fiscal year commencing in
    23  calendar year two  thousand  nine  shall  be  made  no  later  than  the
    24  fifteenth  day  of  February,  two  thousand nine. An application for an
    25  abatement pursuant to this section for the  fiscal  year  commencing  in
    26  calendar year two thousand ten shall be made no later than the fifteenth
    27  day  of  February,  two  thousand  ten.  An application for an abatement
    28  pursuant to this section for the fiscal year commencing in calendar year
    29  two thousand eleven shall be made no later than  the  fifteenth  day  of
    30  February,  two thousand eleven. An application for an abatement pursuant
    31  to this section for the fiscal years commencing in  calendar  years  two
    32  thousand  twelve  and  two thousand thirteen shall be made in accordance
    33  with subdivision three-e of this section. The date  or  dates  by  which
    34  applications for an abatement pursuant to this section shall be made for
    35  the fiscal years beginning in calendar years two thousand fourteen[, two
    36  thousand  fifteen,  two thousand sixteen, two thousand seventeen and two
    37  thousand eighteen] through two thousand twenty-one shall be  established
    38  by the commissioner of finance by rule, provided that such date or dates
    39  shall  not be later than the fifteenth day of February for such calendar
    40  years.
    41    § 5. The New York city department  of  finance  shall  reallocate  the
    42  monies  used  to  provide the partial tax abatement for residential real
    43  property held in the cooperative or condominium form  of  ownership  for
    44  dwelling  units  whose  billable  assessed value is two hundred thousand
    45  dollars or greater, which are now  ineligible  for  such  tax  abatement
    46  pursuant  to  section  one  of  this  act,  to be deposited in a special
    47  account in the name of the New York city  housing  authority.    Payment
    48  from  such  account shall be on the authorization of the commissioner of
    49  the department of housing preservation and development.
    50    § 6. This act shall take effect immediately.
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