NY S07466

Amends Real Property Tax Law Section 511 to require assessment disclosure notices in New York City to include property identification information (address, block, lot, tax class), market value, applicable assessment ratio, and actual assessed value

Mandates that Class Two properties include a list of comparable properties used to determine their value in the disclosure notice

Requires disclosure of any assessment caps or transitional assessment processes in use, including percentages and timeframe of calculation

Requires listing of all applicable tax exemptions with descriptions and dollar amounts for each exemption

Takes effect July 1, 2015