NY S07995

Reduces the time limit for filing a note of issue in Article 7 tax assessment proceedings from four years to two years for most property types, after which the proceeding is deemed abandoned.

Reduces the initial pending period before either party can demand appraisal submissions from two years to six months from commencement of the proceeding.

Establishes staggered submission deadlines for appraisals: petitioner must submit within 120 days of demand, and respondent must submit 90 days after petitioner's submission, with court notification requirements between filings.

Requires petitioners to serve respondents with either a statement that the property is not income-producing or a complete income and expense statement for each tax year under review within 30 days of commencing the proceeding (excludes proceedings in cities with populations over one million).

Reduces the pretrial conference scheduling period from 90 days to 45 days after appraisals are filed, and reduces the final abandonment period from four years to two years if respondent fails to demand a note of issue.