NY S07594

Amends Real Property Tax Law Section 714 to require respondents in property assessment review proceedings to disclose the assessing method, capitalization rate, and other valuation data or formulas used to determine property value

Applies to judicial proceedings in cities with a population of one million or more that challenge real property assessments

Disclosure must be included in the answer or notice served within forty days after service of a note of issue, unless extended by court order

Takes effect thirty days after enactment and applies to all proceedings commenced or pending on or after the effective date

For pending proceedings where the disclosure deadline has already passed, respondents must disclose within thirty days of the act's effective date, and petitioners receive an additional thirty-day continuance to review and respond