What's happening
This bill requires New York City to disclose the property assessment method, capitalization rate, and related data to petitioners challenging property tax assessments.
Why it matters
Increases transparency for property owners. By requiring NYC to disclose the specific assessment method, capitalization rate, and valuation data, property owners can better understand—and potentially challenge—the way their property taxes are calculated.
Levels the playing field in legal disputes. Petitioners reviewing or contesting assessments gain access to the same technical information the city uses, helping to reduce information asymmetry and potentially making legal proceedings fairer.
Could impact property tax outcomes and city revenue. With more data available, more property owners may successfully challenge their assessments, which could affect both individual tax bills and overall municipal tax revenue.
Applies retroactively to pending cases. The bill provides that even ongoing cases (not just new ones) will benefit from these disclosure requirements, possibly prompting a wave of new motions or evidence submissions in current disputes.
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
New York City property owners challenging assessments
Petitioners would receive the assessing method, any capitalization rate, and other data or formulas used to value their property.
New York City assessment officials and city lawyers
Respondents would have to include valuation disclosures in the answer or notice served in assessment-review proceedings.
Attorneys representing property owners in pending cases
If the disclosure deadline had already passed, the bill would require disclosure within thirty days of its effective date and give petitioners a thirty-day continuance from receipt to review it, adjust evidence or make motions.
Headline styles
Disclose Property Tax Methods
Plain English, a few words. Used as the page title.
Sponsors
Senator · Senate District 14
No co-sponsors yet.
History
- Committee discharged and committed to cities
- 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.
Disclose Property Assessment Methods
In Assembly Committee · Codes · Sponsor Inez E. Dickens
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7594
IN SENATE
January 29, 2020
Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government
AN ACT to amend the real property tax law, in relation to requiring the disclosure to the petitioner of the assessing method, capitalization rate, and certain other information used to determine valuation by the respondent in a judicial proceeding brought to review an assessment of real property in a city having a population of one million or more
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 2 of section 714 of the real property tax law is amended to read as follows:
2. If the respondent has not served an answer or moved to dismiss the petition prior to the service of a note of issue, except as hereinbefore provided, in order to raise an objection to the sufficiency of the petition or assert an affirmative defense upon the hearing, he or she must serve upon the petitioner within forty days after the service of a note of issue, a notice containing a statement of the nature of such objection or such defense, unless for good cause the time to serve such notice is extended by the court or a justice thereof, on an order to show cause. Unless the petitioner and respondent stipulate in writing for a hearing at an earlier date, no hearing shall be held less than thirty days after service of such notice upon the petitioner. The answer or notice served pursuant to the provisions of this subdivision shall disclose the assessing method used, any capitalization rate used, and any other data or formula used to determine the valuation of the real property.
§ 2. This act shall take effect on the thirtieth day after it shall have become a law and shall apply to proceedings commenced or pending on or after its effective date, and, in addition, the disclosure of the information required to be disclosed by the amendment made to subdivision 2 of section 714 of the real property tax law by section one of this act shall, if the time for such disclosure pursuant to the provisions of such subdivision 2 has passed in a proceeding pending on the effective date of this act, be made within thirty days of the effec-
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06507-01-9
S. 7594 2
tive date of this act, and the petitioner shall have a continuance of thirty days from receipt thereof to review such disclosures and submit or modify such documents or other evidence, or make such motions, as such disclosures may prompt.
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 requiring the disclosure to the petitioner of the assessing method, capitalization rate, and certain other information used to determine valuation by the respondent in a judicial proceeding brought to review an assessment of real property in a city having a population of one million or more
Purpose or general idea of bill
To provide real property taxpayers with full disclosure of the method of assessment of their property.
Summary of specific provisions
This bill would amend Section 714(2) of the Real Property Tax Law to require New York City to disclose to petitioners in proceedings to review their assessments the assessing method used, any capitalization rate used and any other data or formula used to determine the valuation of the real property. Such disclosure would be made upon the filing of an answer or notice of objection in such case by the respondent City.
Justification
The greater disclosure of assessment methods and capitalization rates used to determine the value of real property would make the assessment process more transparent and less likely to be subject to abuse. Without a doubt, the more understandable the assessment process is to the taxpaying public, the more confidence there will be in this critical form of taxation. This bill would add a small measure of disclosure to a secretive process that currently erodes such confidence.
Prior legislative history
2017-2018: A.7271.
Fiscal implications
None to the State.
Effective date
This act shall take effect in thirty days following enactment, and applies to proceedings commenced or pending after such date. Provision is made for extending time in pending proceedings.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.