NY A05715

Allows property owners of one, two, or three family residences to claim tax abatement if the home is totally destroyed or extensively damaged such that all units are unfit for habitation and cannot reasonably be repaired within 180 days.

Requires catastrophic loss claims to be filed with the assessor within six months after the final assessment roll is completed, using a form prescribed by the commissioner.

Suspends tax collection efforts and accrual of interest and penalties upon filing of a claim; refunds any interest or penalties paid if the claim is sustained; resumes collection retroactively if the claim is denied.

Vests claim determination authority in the board of assessment review or assessment review commission, which must hear and decide all claims within two months of the filing deadline and notify the assessor and claimant within five days of determination.

Requires the commissioner to promulgate regulations coordinating assessment rolls and tax levies between counties, cities, towns, school districts, and villages; takes effect 180 days after enactment.