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Sponsors
1 Co-sponsor
History
- Referred to real property taxation
- Delivered to assembly
- Passed senateVote 60–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.119
- Referred to local government
- Returned to senate
- Died in assembly
- Referred to real property taxation
- Delivered to assembly
- Passed senateVote 63–0
Show 2 earlier actions
- Ordered to third reading cal.1725
- Referred to rules
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.
Relates to the redemption of real property subject to a delinquent tax lien
In Assembly Committee · Real Property Taxation · Sponsor John T. McDonald III
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5845
Title of bill
An act to amend the real property tax law, in relation to the redemption of real property subject to a delinquent tax lien
Purpose or general idea of bill
Amends the real property tax law to lower the tax redemption period for abandoned buildings from two years to one year for properties that have been certified as abandoned by a building department official pursuant to Real Property Actions and Proceedings Law § 1971.
Summary of specific provisions
Section 1 - Amends Section 1120 of the real property tax law to add a new subdivision 2 to provide that the redemption period for abandoned properties shall expire one year after the lien date
Section 2 - Effective date.
Justification
Many properties sit abandoned in communities for years accumulating unpaid taxes and driving increased tax collection costs for the tax foreclosing entity whether it is at the local or county level. The abandoned properties, which are often blighted and unattended to, become blight to the community. These abandoned and blighted properties often diminish adjacent and neighborhood property value as well as tax revenue. These properties also have a tendency to attract increased criminal and drug activity which further causes deterioration in the neighborhood.
This bill will reduce the tax redemption period for properties certified as abandoned from the local building department official pursuant to Real Property Actions and Proceedings Law § 1971 from two years to one year. This will ultimately benefit the property itself as it will prevent further deterioration in many cases as the property is abandoned. It will also provide a benefit to the adjoining and neighboring property owners as potential decay and reduction of property values of the neighborhood will be averted. Local governments and tax foreclosing entities may also benefit as a result of lowering costs associated with maintaining vacant properties that are in violation of state building code violations and will in fact reduce outstanding tax delinquencies.
Prior legislative history
New Bill.
Fiscal implications
None to the state.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.