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NY S04147

Bill

Official Source

Status

Introduced

2/2/2021

Primary Sponsor

Toby Stavisky

Click for details

Origin

Senate

2021-2022 General Assembly

AI Summary

  • Amends New York City Administrative Code by adding new section 11-240.2 regarding property assessments following tax certiorari settlements
  • Caps assessed value increases at 3 percent maximum for cooperative units and condominiums during the two-year period following resolution of tax certiorari proceedings
  • Applies to real property owned or leased by cooperative corporations or held on a condominium basis
  • Takes effect immediately upon enactment

Legislative Description

Provides that assessed values of cooperative units and condominiums shall not increase by more than 3% in the two years following resolution of tax certiorari proceedings.

Last Action

REFERRED TO CITIES 1

1/5/2022

Committee Referrals

Cities 12/2/2021

Full Bill Text

No bill text available