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NY S00799

Bill

Official Source

Status

Introduced

1/5/2011

Primary Sponsor

George Maziarz

Click for details

Origin

Senate

2009-2010 General Assembly

AI Summary

  • Prohibits using oil and gas lease or conveyance transactions as sole basis for increasing property tax assessments without additional evidence of property value
  • Requires actual land sale prices or other comparable evidence of value to justify assessment increases related to oil and gas rights
  • Applies to both lease arrangements and conveyances of oil and gas rights on properties

Legislative Description

Provides that the lease or conveyance of oil and gas rights shall not, without other evidence of value, such as actual land sale prices, constitute grounds for increasing assessments.

Last Action

REFERRED TO LOCAL GOVERNMENT

1/5/2011

Committee Referrals

Local Government1/5/2011

Full Bill Text

No bill text available