What's happening
This bill prevents increasing the assessed value of NYC real property during tax assessment review proceedings and applies corrected values immediately.
Why it matters
Protects property owners from mid-review tax increases. This bill ensures that once a property owner challenges their NYC property tax assessment, the city cannot increase the assessed value of the property until the review process is fully resolved. This provides stability and predictability during disputes.
Immediate application of corrections benefits taxpayers. If an assessment is corrected in the owner’s favor after review, the new, lower value must be used right away for tax calculations that year, potentially leading to quicker and fairer tax relief.
Creates a precedent for future assessments. The corrected value from a successful challenge becomes a "rebuttable presumption" for subsequent years, meaning it will serve as the default value unless the city can justify a different figure, offering ongoing protection against arbitrary hikes.
Albany, before your first meeting.
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Who cares
Headline styles
Correct Property Tax Values
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
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
1334
2019-2020 Regular Sessions
IN ASSEMBLY
January 15, 2019
Introduced by M. of A. QUART -- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the administrative code of the city of New York, in relation to corrections to assessed values following proceedings to review tax assessments
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The administrative code of the city of New York is amended by adding a new section 11-231.1 to read as follows:
§ 11-231.1 Proceeding to review tax assessment; assessed value. a. The assessed valuation of real property shall not be increased prior to the final determination by the tax commission where proceedings to review or correct the tax assessment have been commenced by the filing of a petition with the tax commission in accordance with section 11-231 of this subchapter.
b. When an assessment is corrected following proceedings to review or correct the tax assessment of real property, such corrected assessed valuation shall immediately be used by the tax commission and the department of finance for the year for which the correction is made and shall be considered a rebuttable presumption in subsequent years.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01418-01-9
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.