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A4027Assembly2009-2010 Session

Requires the establishment of a commercial assessment ratio for certain counties

Sponsor Robert SweeneyAD-11+3 co-sponsorsAffects Local Government
Status
In Senate Committee
Local Government
Impact
Pending
Passage
Pending

Bill progress

Step 5 of 7

In Senate · Local Government

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Sponsors

Primary sponsor
Robert Sweeney

Assembly Member · Assembly District 11

History

  1. Referred to local government
  2. Delivered to senate
  3. Passed assembly
  4. Ordered to third reading cal.303
  5. Returned to assembly
  6. Died in senate
  7. Referred to rules
  8. Delivered to senate
  9. Passed assembly
  10. Ordered to third reading rules cal.125
  11. Rules report cal.125
  12. Reported
Show 4 earlier actions
  1. Amend and recommit to rules 4027a
  2. Reported referred to rules
  3. Reported referred to ways and means
  4. Referred to real property taxation

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:A4027A

Title of bill

An act to amend the real property tax law, in relation to creating a county commercial assessment ratio

Purpose or general idea of bill

To establish in a county which has a population of more than one million four hundred thousand which is not wholly contained within a city, a commercial assessment ratio for major type B property for use in article 7 proceedings reviewing assessments of major type B commercial properties.

Summary of specific provisions

This bill creates a new section of the RPTL by adding section 1215 which establishes a commercial assessment ratio for major type B commercial property and amends section 720 of the RPTL permitting its use in article 7 proceedings reviewing the assess- ments of major type B commercial property. The provisions within the legislation are permissive and must be adopted by the County; provided however, that a city, town or village within a county that has adopted a local law to utilize a commercial assessment ratio may by local law opt not to have the commercial assessment ratio apply in their respective jurisdictions.

JUSTIFICATION:. Many assessing units have experienced unprecedented appreciation in residential property values over the last few years while commercial property values have remained constant or have appreci- ated slightly. This unprecedented appreciation in residential property values has caused the state equalization rates for these assessing units to drop drastically. These enormous changes in the final state equaliza- tion rates do not accurately reflect the changes in the values of commercial property. Thus the annual establishment of state equalization rates alone in a rising residential market is creating artificial over assessment of commercial property. The commercial assessment ratio would be the market value ratio for major type B property, which is currently a component of the full value measurement used in establishing the state equalization rate for an assessing unit.

Prior legislative history

2009, 2005, 2007, 2008 - Passed Assembly

FISCAL IMPLICATIONS:De minimis

EFFECTIVE DATE:Immediately

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.