What's happening
This bill exempts assessors from updating tax billing addresses to mortgage investing institutions or their agents.
Why it matters
Protects homeowners from losing important tax information. by ensuring tax bills are sent to property owners rather than large mortgage investors, reducing the risk of missed payments or unnoticed delinquencies.
Shifts responsibility for address updates away from local assessors. when the new address is a mortgage investing institution or its agent, potentially streamlining assessors’ administrative workload and reducing errors or confusion with third-party addresses.
Could impact mortgage servicing practices. by making mortgage investors or their agents responsible for ensuring they receive tax information, which may affect how escrow accounts and tax payments are managed for properties under mortgage investment.
May enhance local government efficiency and accountability. by clarifying the limits of assessors' duties, allowing them to focus on property owner and occupancy changes rather than intermediary financial institutions.
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Who cares
Headline styles
Limit Tax Address Changes
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Substituted by A2438A
- Amended on third reading 5400a
- Advanced to third reading
- 2nd report cal.
- 1st report cal.796
- 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.
Limit Tax Address Changes
Vetoed · Sponsor James Skoufis
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5400--A Cal. No. 796
2017-2018 Regular Sessions
IN SENATE
March 24, 2017
Introduced by Sen. LARKIN -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading
AN ACT to amend the real property tax law, in relation to tax billing addresses
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 518 of the real property tax law, as amended by chapter 145 of the laws of 1990, is amended to read as follows:
§ 518. Change in tax billing address. Where the assessor receives a report of a transfer occurring after the taxable status date, or is otherwise notified of a change in tax billing address, the assessor shall enter the new tax billing address on the data file, as that term is defined in section fifteen hundred eighty-one of this chapter. Where no such data file exists, the assessor shall enter the new tax billing address on the assessment roll. If the assessor does not have custody of the assessment roll when such report is received, he or she shall report the new tax billing address to the person having custody of the tax roll, which person shall enter the new tax billing address on the tax roll. Nothing contained herein shall be construed to authorize a change of the name of the owner included in the data file or appearing on the roll. Where such "tax billing address" is a mortgage investing institution or agent thereof, the assessor shall not be required to make an entry.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03993-03-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the real property tax law, in relation to tax billing addresses
Purpose
The purpose of this bill is to relieve local assessor offices of the undue and unnecessary burden of adding a code to notification forms for creation or termination of a mortgage escrow account.
Summary of provisions
Section 1: amends Section 518 of the real property tax law to state that where the "tax billing address" is for a mortgage investing institution or agent thereof, the assessor shall not be required to make an entry.
Section 2: Effective date.
Justification
Under current law, banks or tax service organizations (TSOs) send notification of the creation or termination of mortgage escrow accounts to the County Director. The County sorts boxes of forms and forwards them to the appropriate assessor, who then adds a code to their data file for the bank or TSO. Small banks generally request bills directly from the Receiver of Taxes who pulls and sends them to that bank. Large TSOs get their bills electronically from the County directly. In either case, the bank code on the assessor's file is never used for any purpose.
A great deal of time and labor is committed to the adding of assessor codes to the notification forms for creation or termination of a mortgage escrow account. Given these codes are not used for any purpose, this bill would provide much-needed mandate relief to many of our local assessor offices and governments without impacting any use or service whatsoever.
Legislative history
2013-2014: S.5679-Referred to Local Government 2015-2016: S4254-Referred to Local Government
Fiscal implications
None.
Effective date
Immediate.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.