What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Held for consideration in real property taxation
- Referred to real property taxation
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10080
Title of bill
An act to amend the real property tax law, in relation to restructuring the current aid program to encourage full value reas- sessments
Purpose or general idea of bill
This bill will allow for a state aid for full value assessments conducted at least every four years.
Summary of specific provisions
Paragraphs (a), (b), and (c) of subdivi- sion 1 and subdivision 2 of section 1573 of the real property tax law are amended.
Paragraph a is amended to state the assessing unit has implemented a revaluation pursuant to an approved plan.
Paragraph b is amended to state the revaluation is at one hundred percent of value.
Paragraph c is amended to state the revaluation is done not less than four years, in the first and last year of such plan, not less than once every four years.
Subdivision 2 is amended to state the state assistance shall be payable in an amount not to exceed five dollars per parcel in a year upon which a revaluation is implemented and two dollars per parcel in a year upon which a revaluation is not implemented.
Justification
This bill would replace the existing annual aid program which provided five dollars per parcel for each year assessments were maintained at 100 percent of value. This bill would be available upon the completion of a revaluation at 100 percent of value, and be for a period of at least four years and require a revaluation at least every fourth year.
Prior legislative history
New Bill.
Fiscal implications
To be determined.
Effective date
This act shall take effect immediately and shall apply to assessment rolls with taxable status dates occurring on and after
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.