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NY A00449
Bill
Status
1/5/2011
Primary Sponsor
Kevin Cahill
Click for details
AI Summary
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Adds new Section 306 to the Real Property Tax Law requiring all assessing units to update property assessments at least once every five years after the effective date.
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Assessment updates must follow a periodic assessment cycle established by each municipal governing body and comply with State Board rules.
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Updates must be based on valuation date, taxable status date, and assessment methods and standards as provided in the Real Property Tax Law.
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State Board authorized and directed to adopt any necessary rules or regulations for implementation immediately upon enactment.
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Effective date is January 1st of the year following enactment into law.
Legislative Description
Establishes certain assessing units shall update the assessments in its jurisdiction not less than once every fifth year.
Last Action
referred to real property taxation
1/5/2011