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NY S01893

Bill

Official Source

Status

Introduced

1/17/2023

Primary Sponsor

Toby Stavisky

Click for details

Origin

Senate

2023-2024 General Assembly

AI Summary

  • Amends New York City Administrative Code by adding Section 11-240.3
  • Caps assessed value increases at no more than 3 percent for two years following resolution of tax certiorari proceedings
  • Applies to real property owned or leased by cooperative corporations and condominium units
  • 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

1/3/2024

Committee Referrals

Cities 11/17/2023

Full Bill Text

No bill text available