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NY A03758
Bill
Status
1/28/2021
Primary Sponsor
Steven Cymbrowitz
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AI Summary
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Extends the deadline for assessment roll calculations related to properties damaged by the October 29-30, 2012 storm from 2020 through 2023.
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Changes the reference year for "aggregate physical increase" calculations from 2020 to 2023 for assessment rolls completed during the extended period.
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Limits assessed value increases on damaged properties to not exceed what values would have been without the physical decreases or increases from 2013-2023.
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Allows the NYC Finance Commissioner to recalculate assessed values on 2015 assessment rolls within 90 days of the law's adoption, without affecting taxes due for fiscal year 2014-2015.
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Provides that below-grade improvements excluded from 2012 valuations do not need to be included in subsequent rolls if relocated above grade as part of storm-related reconstruction.
Legislative Description
Extends certain dates relating to the assessment of real property damaged by the severe storm that occurred on the twenty-ninth and thirtieth of October two thousand twelve in a city having a population of one million or more to 2023.
Last Action
referred to real property taxation
1/5/2022