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NY A01268

Bill

Official Source

Status

Introduced

1/8/2021

Primary Sponsor

Dan Quart

Click for details

Origin

Assembly

2021-2022 General Assembly

AI Summary

  • Amends Real Property Tax Law section 581 regarding assessment of cooperative and condominium properties in cities
  • Prohibits assessors in city special assessing units from using rent-regulated properties as comparison properties when determining assessments
  • Defines "rent-regulated properties" as housing subject to emergency rent control, local rent control, 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 considered sufficiently similar to a subject property for assessment comparison purposes
  • Takes effect immediately upon enactment

Legislative Description

Requires real property in New York city to be assessed using a fair comparative.

Last Action

referred to real property taxation

1/5/2022

Committee Referrals

Real Property Taxation1/8/2021

Full Bill Text

No bill text available