NY A04982

Amends Real Property Tax Law Section 730 to expand eligibility for small claims assessment review to include persons residing in property held in trust or owned by a limited partnership, if the property serves as their primary residence

Allows persons whose real property is held in trust to seek small claims assessment review if the trust was lawfully created solely for estate planning and asset protection purposes

Permits residents of property owned by a limited partnership to seek small claims assessment review if the partnership engages in no commercial activity, was created solely for estate planning and asset protection purposes, and the resident partners personally pay all property taxes and ownership costs

Repeals subdivision 9 of Section 730 of the Real Property Tax Law

Takes effect immediately upon enactment