NY S07719

Amends Real Property Tax Law Section 581 to prohibit assessors in cities from using rent-regulated properties as comparison properties when assessing cooperative corporations or condominiums

Defines "rent-regulated properties" to include housing subject to the Emergency Housing Rent Control Law, Local Emergency Housing Rent Control Act, Emergency Tenant Protection Act of 1974, NYC Rent and Rehabilitation Law, or NYC Rent Stabilization Law of 1969

Defines "comparison properties" as any real property an assessor considers sufficiently similar to a subject property for assessment comparison purposes

Maintains existing requirement that cooperative and condominium properties be assessed at no more than the assessment that would apply if the property were not cooperatively or condominium-owned

Takes effect immediately upon enactment