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Sponsors
No co-sponsors yet.
History
- Substituted by A7095A
- Advanced to third reading
- 2nd report cal.
- 1st report cal.395
- Referred to local government
- Print number 2528a
- Amend (t) and recommit to local government
- Referred to local government
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Provides that persons residing in property owned by a limited partnership shall be eligible for small claims assessment review; repealer
Senate Floor Calendar · Sponsor Sandy Galef
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the real property tax law, in relation to the eligibility of persons residing in property owned by a limited partnership to seek small claims assessment review; and to repeal subdivision 9 of section 730 of the real property tax law relating thereto
Purpose
To clarify that persons who own their homes through limited Partnerships may be qualified for the simplified real property assessment review (SCAR) provided for in §730 of the Real Property Tax Law.
Summary of provisions
Adds a new subdivision to to section 730 of the Real Property Tax Law that clarifies that persons who own property through limited Partnerships may be qualified for SCAR.
Existing law
While §730 does not specify that limited Partnerships do not qualify for SCAR; assessors, hearing officers and the Office of Court Administration have taking the position that limited Partnerships do not qualify. Recently the Supreme Court in Nassau County held that limited Partnerships could qualify the decision is on appeal. By way of comparison, the qualifications for STAR exemptions have been recently amended to allow residential homeowners who are in this situation to qualify for STAR. A new section 425(2)(e)(ii) states that persons with property owned through limited partnerships can qualify for STAR.
Justification
The purpose of SCAR treatment is to allow residential homeowners the right to use a simplified system to have their real property assessments reviewed and save the expense and lengthy and complicated legal procedures of a tax certiorari proceeding. in this era of complex estate planning, many homeowners hold title to their property through limited Partnerships. The bill would recognize that this form of title does not disqualify those homeowners who would otherwise be eligible to use the SCAR process.
Legislative history
2007-2008: S.8108
Fiscal implications
None.
Local fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.