STATE OF NEW YORK ________________________________________________________________________ 4972--A 2023-2024 Regular Sessions IN ASSEMBLY February 27, 2023 ___________ Introduced by M. of A. BRAUNSTEIN -- read once and referred to the Committee on Real Property Taxation -- reported and referred to the Committee on Rules -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the real property tax law, in relation to extending certain provisions relating to a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraphs (a) and (b) of subdivision 2 of section 467-a of 2 the real property tax law, as amended by chapter 184 of the laws of 3 2021, are amended to read as follows: 4 (a) In a city having a population of one million or more, dwelling 5 units owned by unit owners who, as of the applicable taxable status 6 date, own no more than three dwelling units in any one property held in 7 the condominium form of ownership, shall be eligible to receive a 8 partial abatement of real property taxes, as set forth in paragraphs 9 (c), (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi- 10 sion; provided, however, that a property held in the condominium form of 11 ownership that is receiving complete or partial real property tax 12 exemption or tax abatement pursuant to any other provision of this chap- 13 ter or any other state or local law, except as provided in paragraph (f) 14 of this subdivision, shall not be eligible to receive a partial abate- 15 ment pursuant to this section; and provided, further, that sponsors 16 shall not be eligible to receive a partial abatement pursuant to this 17 section; and provided, further, that in the fiscal years commencing in 18 calendar years two thousand twelve through two thousand [twenty-two] 19 twenty-six no more than a maximum of three dwelling units owned by any 20 unit owner in a single building, one of which must be the primary resi- 21 dence of such unit owner, shall be eligible to receive a partial abate- EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08043-02-3
A. 4972--A 2 1 ment pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4) of this subdi- 2 vision. 3 (b) In a city having a population of one million or more, dwelling 4 units owned by tenant-stockholders who, as of the applicable taxable 5 status date, own no more than three dwelling units in any one property 6 held in the cooperative form of ownership, shall be eligible to receive 7 a partial abatement of real property taxes, as set forth in paragraphs 8 (c), (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi- 9 sion; provided, however, that a property held in the cooperative form of 10 ownership that is receiving complete or partial real property tax 11 exemption or tax abatement pursuant to any other provision of this chap- 12 ter or any other state or local law, except as provided in paragraph (f) 13 of this subdivision, shall not be eligible to receive a partial abate- 14 ment pursuant to this section; and provided, further, that sponsors 15 shall not be eligible to receive a partial abatement pursuant to this 16 section; and provided, further, that in the fiscal years commencing in 17 calendar years two thousand twelve through two thousand [twenty-two] 18 twenty-six no more than a maximum of three dwelling units owned by any 19 tenant-stockholder in a single building, one of which must be the prima- 20 ry residence of such tenant-stockholder, shall be eligible to receive a 21 partial abatement pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4) 22 of this subdivision. For purposes of this section, a tenant-stockholder 23 of a cooperative apartment corporation shall be deemed to own the dwell- 24 ing unit which is represented by his or her shares of stock in such 25 corporation. Any abatement so granted shall be credited by the appropri- 26 ate taxing authority against the tax due on the property as a whole. The 27 reduction in real property taxes received thereby shall be credited by 28 the cooperative apartment corporation against the amount of such taxes 29 attributable to eligible dwelling units at the time of receipt. 30 § 2. Paragraphs (d-1), (d-2), (d-3) and (d-4) of subdivision 2 of 31 section 467-a of the real property tax law, as amended by chapter 184 of 32 the laws of 2021, are amended to read as follows: 33 (d-1) In the fiscal years commencing in calendar years two thousand 34 twelve, two thousand thirteen and two thousand fourteen, eligible dwell- 35 ing units in property whose average unit assessed value is less than or 36 equal to fifty thousand dollars shall receive a partial abatement of the 37 real property taxes attributable to or due on such dwelling units of 38 twenty-five percent, twenty-six and one-half percent and twenty-eight 39 and one-tenth percent respectively. In the fiscal years commencing in 40 calendar years two thousand fifteen through two thousand [twenty-two] 41 twenty-six eligible dwelling units in property whose average unit 42 assessed value is less than or equal to fifty thousand dollars shall 43 receive a partial abatement of the real property taxes attributable to 44 or due on such dwelling units of twenty-eight and one-tenth percent. 45 (d-2) In the fiscal years commencing in calendar years two thousand 46 twelve, two thousand thirteen and two thousand fourteen, eligible dwell- 47 ing units in property whose average unit assessed value is more than 48 fifty thousand dollars, but less than or equal to fifty-five thousand 49 dollars, shall receive a partial abatement of the real property taxes 50 attributable to or due on such dwelling units of twenty-two and one-half 51 percent, twenty-three and eight-tenths percent and twenty-five and two- 52 tenths percent respectively. In the fiscal years commencing in calendar 53 years two thousand fifteen through two thousand [twenty-two] twenty-six 54 eligible dwelling units in property whose average unit assessed value is 55 more than fifty thousand dollars, but less than or equal to fifty-five 56 thousand dollars, shall receive a partial abatement of the real property
A. 4972--A 3 1 taxes attributable to or due on such dwelling units of twenty-five and 2 two-tenths percent. 3 (d-3) In the fiscal years commencing in calendar years two thousand 4 twelve, two thousand thirteen and two thousand fourteen, eligible dwell- 5 ing units in property whose average unit assessed value is more than 6 fifty-five thousand dollars, but less than or equal to sixty thousand 7 dollars, shall receive a partial abatement of the real property taxes 8 attributable to or due on such dwelling units of twenty percent, twen- 9 ty-one and two-tenths percent, and twenty-two and five-tenths percent 10 respectively. In the fiscal years commencing in calendar years two thou- 11 sand fifteen through two thousand [twenty-two] twenty-six eligible 12 dwelling units in property whose average unit assessed value is more 13 than fifty-five thousand dollars, but less than or equal to sixty thou- 14 sand dollars, shall receive a partial abatement of the real property 15 taxes attributable to or due on such dwelling units of twenty-two and 16 five-tenths percent. 17 (d-4) In the fiscal years commencing in calendar years two thousand 18 twelve through two thousand [twenty-two] twenty-six, eligible dwelling 19 units in property whose average unit assessed value is more than sixty 20 thousand dollars shall receive a partial abatement of the real property 21 taxes attributable to or due on such dwelling units of seventeen and 22 one-half percent. 23 § 3. Paragraph (a) of subdivision 3 of section 467-a of the real prop- 24 erty tax law, as amended by chapter 184 of the laws of 2021, is amended 25 to read as follows: 26 (a) An application for an abatement pursuant to this section for the 27 fiscal year commencing in calendar year nineteen hundred ninety-six 28 shall be made no later than the fifteenth day of September, nineteen 29 hundred ninety-six. An application for an abatement pursuant to this 30 section for the fiscal year commencing in calendar year nineteen hundred 31 ninety-seven shall be made no later than the first day of April, nine- 32 teen hundred ninety-seven. An application for an abatement pursuant to 33 this section for the fiscal year commencing in calendar year nineteen 34 hundred ninety-eight shall be made no later than the first day of April, 35 nineteen hundred ninety-eight. An application for an abatement pursuant 36 to this section for the fiscal year commencing in calendar year nineteen 37 hundred ninety-nine shall be made in accordance with this subdivision 38 and subdivision three-a of this section. An application for an abatement 39 pursuant to this section for the fiscal year commencing in calendar year 40 two thousand shall be made no later than the fifteenth day of February, 41 two thousand. An application for an abatement pursuant to this section 42 for the fiscal year commencing in calendar year two thousand one shall 43 be made in accordance with this subdivision and subdivision three-b of 44 this section. An application for an abatement pursuant to this section 45 for the fiscal year commencing in calendar year two thousand two shall 46 be made no later than the fifteenth day of February, two thousand two. 47 An application for an abatement pursuant to this section for the fiscal 48 year commencing in calendar year two thousand three shall be made no 49 later than the fifteenth day of February, two thousand three. An appli- 50 cation for an abatement pursuant to this section for the fiscal year 51 commencing in calendar year two thousand four shall be made in accord- 52 ance with this subdivision and subdivision three-c of this section. An 53 application for an abatement pursuant to this section for the fiscal 54 year commencing in calendar year two thousand five shall be made no 55 later than the fifteenth day of February, two thousand five. An applica- 56 tion for an abatement pursuant to this section for the fiscal year
A. 4972--A 4 1 commencing in calendar year two thousand six shall be made no later than 2 the fifteenth day of February, two thousand six. An application for an 3 abatement pursuant to this section for the fiscal year commencing in 4 calendar year two thousand seven shall be made no later than the 5 fifteenth day of February, two thousand seven. An application for abate- 6 ment pursuant to this section for the fiscal year commencing in calendar 7 year two thousand eight shall be made in accordance with this subdivi- 8 sion and subdivision three-d of this section. An application for an 9 abatement pursuant to this section for the fiscal year commencing in 10 calendar year two thousand nine shall be made no later than the 11 fifteenth day of February, two thousand nine. An application for an 12 abatement pursuant to this section for the fiscal year commencing in 13 calendar year two thousand ten shall be made no later than the fifteenth 14 day of February, two thousand ten. An application for an abatement 15 pursuant to this section for the fiscal year commencing in calendar year 16 two thousand eleven shall be made no later than the fifteenth day of 17 February, two thousand eleven. An application for an abatement pursuant 18 to this section for the fiscal years commencing in calendar years two 19 thousand twelve and two thousand thirteen shall be made in accordance 20 with subdivision three-e of this section. The date or dates by which 21 applications for an abatement pursuant to this section shall be made for 22 the fiscal years beginning in calendar years two thousand fourteen 23 through two thousand [twenty-two] twenty-six shall be established by the 24 commissioner of finance by rule, provided that such date or dates shall 25 not be later than the fifteenth day of February for such calendar years. 26 § 4. This act shall take effect immediately.