Enacts the Hurricane Sandy assessment relief act

6 Co-sponsors

• John J. Flanagan
• Kemp Hannon
• William J. Larkin Jr.
• Kenneth P. LaValle
• Carl L. Marcellino
• Jack M. Martins

BILL NUMBER:S2121A

Title of bill

An act to enact the "Superstorm Sandy assessment relief act"; to amend the local finance law, in relation to certain real property tax refunds and credits

Purpose or general idea of bill

To provide real property tax relief to property owners in eligible counties (but not a city with a population of one million or more) whose properties were catastrophically impacted by Hurricane Sandy.

Summary of specific provisions

Section 1 contains the title: "Hurricane Sandy Assessment Relief Act."

Section 2 defines the terms used in the act.

Section 3 provides that an eligible county may adopt the provisions of this act by passing a resolution by the forty-fifth day following the date upon which this act is approved by the Governor.

Section 4 provides that any real property that was damaged by Superstorm Sandy and is located within a participating municipality shall be exempt from taxation as stipulated in this section.

Section 5 stipulates where real property was catastrophically impacted by Superstorm Sandy and is located within a participating municipality, assessment relief shall be granted as stipulated in this section.

Section 6 provides that the commissioner of taxation and finance is authorized to develop a guidance memorandum for use by assessing units for purpose of assisting with the implementation of this act and shall be deemed to be advisory on all assessing units in counties which implement the provisions of this act. Such memorandum shall have no force or effect or serve as authority for any other act of assessing units or of the interpretation or implementation of the laws of the state of New York, except as they relate to the specific implementation of this act.

Section 7 of this act would provide that the schools districts be held harmless by the State for any reduction in State Aid that would have been paid as at tax savings pursuant to § 1306-a of the Real Property Tax Law.

Section 8 relates the levy of taxes.

Section 9 relates to the tax savings for each parcel located within an eligible county receiving the exemption authorized by this act and shall be computed by subtracting the amount actually levied against the parcel from the amount that would have been levied if not for the exemption created by this act.

Section 10 provides that any tax savings generated through an exemption created under this act shall be a charge to the participating municipality.

Section 11 relates to Suffolk county financing of refunds and credits.

Section 12 amends paragraph a of section 11.00 of the local finance law by adding a new subdivision 33-b.

Section 13 sets the effective date as immediate and to have been in full force and effect on and after October 28 of 2012.

Justification

Hurricane Sandy caused catastrophic damaged to properties in several counties in New York State. This legislation provides relief in the form of a property tax reduction for those taxpayers in eligible counties whose property was substantially damaged by the storms.

Prior legislative history

None.

Fiscal implications to the state

None to the State.

Effective date

This act shall take effect immediately and shall be deemed to have been in full force and effect on and after October 28 of 2012.