NY S02460

Amends Real Property Tax Law Section 714 to require respondents to disclose the assessing method, capitalization rate, and other valuation data or formulas used in real property assessment review proceedings in cities with populations of one million or more.

Disclosure must be included in the answer or notice served within forty days after service of a note of issue, unless the court extends the deadline for good cause.

Petitioner receives a thirty-day continuance from receipt of disclosures to review information and submit or modify documents, evidence, or motions.

Takes effect thirty days after becoming law and applies to proceedings commenced or pending on or after the effective date.

For pending proceedings at the effective date, disclosure must be made within thirty days if the deadline has already passed.