What's happening
This bill repeals section 727 of the real property tax law, removing certain restrictions on changing property tax assessments after litigation.
Why it matters
Property owners and local governments will have more flexibility to seek changes in property tax assessments after litigation. , as the repeal of section 727 removes the mandatory multi-year “freeze” on property tax assessments following a court settlement or decision. This could impact both the predictability of tax bills for property owners and the stability of local government revenues.
Taxpayers who previously benefited from locked-in assessment reductions may now face more frequent reassessments. , potentially leading to higher tax bills if property values rise or local assessors revisit valuations soon after a legal dispute.
The bill shifts the balance of power in property tax disputes, giving assessors greater ability to adjust assessments post-litigation. unless a separate, formal agreement restricts them. This may encourage more negotiated settlements, as property owners may seek written agreements to ensure assessment stability.
The change could result in more frequent litigation or negotiation regarding property values. , as both municipalities and taxpayers respond to the less predictable assessment landscape, potentially increasing administrative and legal costs for both sides.
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Who cares
Headline styles
Let Assessments Change After Court
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
1 Multi-sponsor
History
- Referred to real property taxation
- Referred to real property taxation
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5803
2017-2018 Regular Sessions
IN ASSEMBLY
February 15, 2017
Introduced by M. of A. ERRIGO, CASTORINA, MORINELLO -- Multi-Sponsored by -- M. of A. CROUCH -- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to prohibition against change in assessment following litigation; and to repeal section 727 of such law relating thereto
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 727 of the real property tax law is REPEALED.
§ 2. Subdivision 10 of section 485 of the real property tax law, as added by chapter 87 of the laws of 2001, is amended to read as follows:
10. When restrictions have been imposed upon changing future assessments of a facility pursuant to [the provisions of either section seven hundred twenty-seven of this chapter or] a formal agreement between the parties, and the facility becomes exempt pursuant to this section, such restrictions shall apply to future assessments of the facility to the same extent as if it had not become exempt pursuant to this section.
§ 3. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09053-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.