STATE OF NEW YORK
2019-2020 Regular Sessions
January 9, 2019
Introduced by Sens. HOYLMAN, BAILEY, BENJAMIN, BIAGGI, BROOKS, CARLUCCI,
COMRIE, GAUGHRAN, GIANARIS, GOUNARDES, JACKSON, KAPLAN, KAVANAGH,
KENNEDY, KRUEGER, LIU, MAY, METZGER, MYRIE, RAMOS, RIVERA, SALAZAR,
SANDERS, SEPULVEDA, SERRANO, STAVISKY -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Cities --
recommitted to the Committee on Cities in accordance with Senate Rule
6, sec. 8 -- committee discharged, bill amended, ordered reprinted as
amended and recommitted to said committee -- committee discharged,
bill amended, ordered reprinted as amended and recommitted to said
AN ACT to amend the real property tax law, in relation to imposing an
additional tax on certain non-primary residence class one and class
two properties in a city 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 307-b to read as follows:
3 § 307-b. Additional tax on certain non-primary residence properties in
4 a city with a population of one million or more. 1. Generally. Notwith-
5 standing any provision of any general, specific or local law to the
6 contrary, any city with a population of one million or more is hereby
7 authorized and empowered to adopt and amend local laws in accordance
8 with this section imposing an additional tax on certain residential
9 properties and dwelling units.
10 2. Definitions. As used in this section: (a) "Assessed value" means
11 the determination made by the assessors of a city having a population of
12 one million or more of the valuation of real property.
13 (b) "Assessed value attributable to a tenant-stockholder" means the
14 proportion of the assessed value of real property owned by a cooperative
15 apartment corporation, represented by a tenant-stockholder's share or
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 is old law to be omitted.
S. 44--B 2
1 shares of stock in such corporation as determined by its or their
2 proportional relationship to the total outstanding stock of the corpo-
3 ration, including that owned by the corporation.
4 (c) "Commissioner of finance" means the commissioner of finance of a
5 city having a population of one million or more, or his or her designee.
6 (d) "Department of finance" means the department of finance of a city
7 having a population of one million or more.
8 (e) "Five-year average market value" shall mean the average monetary
9 value of a property for the previous five years, using a comparable
10 sale-based valuation method, as determined by the department of finance.
11 3. Additional tax. (a) A local law enacted pursuant to this section
12 may provide for a tax as follows for fiscal years beginning on or after
13 July first, two thousand twenty-one:
14 (i) For one, two or three family residences with a five-year average
15 market value of five million dollars or higher, a tax of at least one-
16 half percent and no more than four percent on the excess market value
17 above five million dollars.
18 (ii) For residential real property held in the condominium form of
19 ownership with an assessed value of three hundred thousand dollars or
20 higher, a tax of at least ten percent and no more than thirteen and
21 one-half percent of the excess assessed value above three hundred thou-
22 sand dollars.
23 (iii) For dwelling units in a property held in the cooperative form of
24 ownership with an assessed value attributable to a tenant-stockholder of
25 three hundred thousand dollars or higher, a tax of at least ten percent
26 and no more than thirteen and one-half percent of the excess assessed
27 value above three hundred thousand dollars. The additional taxes attrib-
28 utable to each tenant-stockholder shall be added by the cooperative
29 apartment corporation to the amount of such taxes otherwise payable by
30 or chargeable to such tenant-stockholder.
31 (b) Subject to the limitations established in paragraph (a) of this
32 subdivision, any such local law may establish a graduated rate schedule
33 for imposing such tax, at rates and excess value thresholds as the local
34 legislative body determines appropriate.
35 (c) Except as otherwise provided in this section, such tax may be
36 imposed, administered, collected and enforced by the commissioner of
37 finance of such city by such means and in such manner as other taxes
38 that are now imposed, administered, collected and enforced by such
39 commissioner in accordance with the charter or administrative code of
40 any such city or as otherwise may be provided by any such local law.
41 4. Exemptions. (a) A local law enacted pursuant to this section shall
42 include an exemption from the additional tax imposed for residential
43 properties or dwelling units that are: (i) the primary residence of at
44 least one owner of the property or dwelling unit; (ii) the primary resi-
45 dence of a parent or child of at least one owner of the property or
46 dwelling unit; (iii) held in the condominium or cooperative form of
47 ownership with an assessed value or assessed value attributable to a
48 tenant-stockholder of three hundred thousand dollars or higher, where
49 the owner has within the prior three years obtained an appraisal report
50 certified by a state certified real estate appraiser or authenticated by
51 a state licensed real estate appraiser, as those terms are defined in
52 section one hundred sixty-a of the executive law, showing that the resi-
53 dential property or dwelling unit has an appraised value of less than
54 five million dollars; or (iv) rented on a full-time basis to a tenant or
55 tenants for whom the property or dwelling unit is their primary resi-
S. 44--B 3
1 (b) Proof that a residential property or dwelling unit is eligible for
2 an exemption provided in paragraph (a) of this subdivision shall be in
3 such form as required by local law or the rules of the commissioner of
5 (c) Any such local law may provide for exemptions from such tax in
6 addition to those specified in this subdivision.
7 (d) In the event that a property granted an exemption from taxation
8 pursuant to this section or local law ceases to be used in a manner
9 making the property eligible for such exemption, the owner or owners
10 shall so notify the commissioner of finance in a time, form and manner
11 as so required by local law or the rules of the commissioner.
12 5. Rules. The department of finance of any city enacting a local law
13 pursuant to this section shall have, in addition to any other functions,
14 powers and duties which have been or may be conferred on it by law, the
15 power to make and promulgate rules to carry out the purposes of this
17 § 2. This act shall take effect immediately.