Enacts the "town of West Seneca assessment relief act"

Summary of provisions

Section 1 contains the title: "Town of West Seneca assessment relief act."

Section 2 defines the terms used in the act.

Section 3 provides that an eligible municipality 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 in a participating municipality, properties that were impacted by severe weather, having lost fifty percent or more of their improved value, shall be granted assessment relief as follows:

* If the property lost at least fifty but less than sixty percent of its improved value, the assessed value attributable to the improvements shall be reduced by fifty-five percent for the impacted tax roll.

* If the property lost at least sixty but less than seventy percent of its improved value, the assessed value attributable to the improvements shall be reduced by sixty-five percent for the impacted tax roll.

* If the property lost at least seventy but less than eighty percent of its improved value, the assessed value attributable to the improvements shall be reduced by seventy-five percent for the impacted tax roll.

*If the property lost at least eighty but less than ninety percent of its improved value, the assessed value attributable to the improvements shall be reduced by eighty-five percent for the impacted tax roll.

*If the property lost at least ninety but less than one hundred percent of its improved value, the assessed value attributable to the improve- ments shall be reduced by ninety-five percent for the impacted tax roll.

*If the property lost all of its improved value, the assessed value attributable to the improvements shall be reduced to zero for the impacted tax roll.

At local option, a municipal corporation may also adopt the following assessment reductions:

*If the property lost at least ten but less than twenty percent of its improved value, the assessed value attributable to the improvements shall be reduced by fifteen percent for the impacted tax roll.

* If the property lost at least twenty but less than thirty percent of its improved value, the assessed value attributable to the improvements shall be reduced by twenty-five percent for the impacted tax roll.

*If the property lost at least thirty but less than forty percent of its improved value, the assessed value attributable to the improvements shall be reduced by thirty-five percent for the impacted tax roll.

*If the property lost at least forty but less than fifty percent of its improved value, the assessed value attributable to the improvements shall be reduced by forty-five percent for the impacted tax roll.

The percentage loss in value due to severe weather would be determined by the assessor, which would be subject to review by the Board of Assessment Review, or the assessment review commission, whichever is applicable, if so requested by the taxpayer.

To receive relief pursuant to this act, the property owner must submit a written request to the assessor within 90 days following the date upon which this act is approved by the Governor.

Section 5 allows for the Commissioner of Taxation and Finance to develop a guidance memorandum for use by assessing units.

Section 6 of this act provides that the school districts wholly or partially contained within the town of West Seneca shall be held harm- less by the State for any reduction in state aid that would have been paid as tax savings pursuant to § 1306-a of the Real Property Tax Law.

Section 7 authorizes serial bonds pursuant to subdivision 33-c of para- graph a of section 11.00 of the local finance law.

Section 8 amends the local finance law by adding subdivision 33-c, which authorizes local governments to issue bonds related to this act.

Section 9 contains a severability clause.

Section 10 sets the effective date as immediate and sets it to have been in full force and effect on and after January 6, 2014.

Justification

Severe weather and flooding between the dates of January 6 and January 13, 2014 resulted in significant damage to properties in the town of West Seneca. This legislation provides relief in the form of a property

tax reduction for those taxpayers in the town of West Seneca whose prop- erty was substantially damaged by these incidents of severe weather.

Legislative history

New bill.

Fiscal implications

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 January 6, 2014.