§ 1805-B — Assessment of real property damaged by the severe storm that occurred on the twenty-ninth and thirtieth of October, two thousand twelve i...

New York § 1805-B

• Jurisdiction: New York
• Law RPT: Real Property Tax
• Art. 18: Preservation of Class Share of Taxes In Municipal Corporations Except Counties Within a City, Included Within the Boundaries of a Special Assessing Unit and Limitation On Increases In Assessments Therein

Text

§ 1805-b. Assessment of real property damaged by the severe storm that\noccurred on the twenty-ninth and thirtieth of October, two thousand\ntwelve in a special assessing unit that is not a city. 1. Generally.\nNotwithstanding any provision of any general, special or local law to\nthe contrary, any special assessing unit that is not a city is hereby\nauthorized and empowered to adopt and amend local laws in accordance\nwith this section to provide that the assessed value of affected real\nproperty, as defined in subdivision three of this section, shall be\nsubject to the limitations provided in this section. Following the\nadoption of this act by a special assessing unit that is not a city, any\ntown, school district or village which uses the assessment roll of such\nspecial assessing unit that is not a city for the levy of taxes, may\nalso adopt a local law or resolution to grant the exemption authorized\npursuant to this section.\n 2. Definitions. As used in this section:\n (a) "Actual assessed value" means the assessed value of real property\nprior to the calculation of any transitional assessed value, and which\nis not reduced by any exemption from real property taxes.\n (b) "Aggregate physical increase" means the sum of physical increases\nfor assessment rolls completed from two thousand fourteen through two\nthousand twenty.\n (c) "Annual tax" means the amount of real property tax that is imposed\non a property for a fiscal year, determined after reduction for any\namount from which the property is exempt, or which is abated, pursuant\nto applicable law.\n (d) "Annual tax attributable to improvements" means the annual tax,\nmultiplied by a fraction, the numerator of which is equal to the\nassessed value attributable to improvements on the property for the\nfiscal year, and the denominator of which is the total assessed value of\nthe property for such fiscal year.\n (e) "Assessed value" means the assessed value of real property that\nwas used to determine the annual tax, and which is not reduced by any\nexemption from real property taxes. For real property classified as\nclass two or class four real property, as defined in subdivision one of\nsection eighteen hundred two of this article to which subdivision three\nof section eighteen hundred five of this article applies, unless other-\nwise provided, the assessed value is the lower of the actual assessed\nvalue and transitional assessed value.\n (f) "Assessed value attributable to improvements" means that portion\nof the assessed value that was used to determine the annual tax attrib-\nutable to improvements, and which is not reduced by any exemption from\nreal property taxes.\n (g) "Improvements" means buildings and other articles and structures,\nsubstructures and superstructures erected upon, under or above the land,\nor affixed thereto, including bridges and wharves and piers and the\nvalue of the right to collect wharfage, cranage or dockage thereon.\n (h) "Physical decrease" means the decrease in assessed value from the\nassessed value on the preceding assessment roll as a result of\ndestruction of property caused by the severe storm that occurred on the\ntwenty-ninth and thirtieth of October, two thousand twelve, such\ndecrease to which subdivision five of section eighteen hundred five of\nthis article applies.\n (i) "Physical increase" means the increase in assessed value from the\nassessed value on the preceding assessment roll as a result of an addi-\ntion to or improvement of existing real property as provided in subdivi-\nsion five of section eighteen hundred five of this article, for the\npurpose of reconstruction or repair in connection with the damage caused\nby the severe storm that occurred on the twenty-ninth and thirtieth of\nOctober, two thousand twelve, such increase to which subdivision five of\nsection eighteen hundred five of this article applies subject to the\nprovisions of this section.\n (j) "Total square footage of the improvements on the property" means,\nwith respect to an assessment roll, the square footage used by the\nassessor in determining the assessed value attributable to improvements\non the real property for such assessment roll.\n (k) "Transitional assessed value" is the transition assessment calcu-\nlated pursuant to subdivision three of section eighteen hundred five of\nthis article, and which is not reduced by any exemption from real prop-\nerty taxes.\n 3. Affected real property. For purposes of this section, "affected\nreal property" means any tax lot that contained, on the applicable taxa-\nble status date, class one, class two or class four real property as\nsuch class of real property is defined in subdivision one of section\neighteen hundred two of this article, as to which:\n (a) the assessor reduced the assessed value attributable to\nimprovements on the property for the assessment roll completed in two\nthousand thirteen from the assessed value attributable to improvements\non the property for the assessment roll completed in two thousand twelve\nas a result of damage caused by the severe storm that occurred on the\ntwenty-ninth and thirtieth of October, two thousand twelve; and\n (b) the assessor increased the assessed value attributable to\nimprovements on the property by means of a physical increase for an\nassessment roll completed from two thousand fourteen through two\nthousand twenty.\n 4. Limitation on increases of assessed value. Notwithstanding\nsubdivision five of section eighteen hundred five of this article and\nany other provision to the contrary, increases in the assessed value of\naffected real property shall be limited in the manner specified in this\nsubdivision.\n (a) Except as provided in paragraph (c) of this subdivision, for\naffected real property for which the assessed values on the assessment\nrolls completed in two thousand fourteen and two thousand fifteen do not\nreflect a physical increase, the amount of the aggregate physical\nincrease shall not exceed the amount of the physical decrease reflected\nin the assessed value on the assessment roll completed in two thousand\nthirteen. Any increase in assessed value from the preceding year in\nexcess of the physical increase reflected in the current assessed value,\nsuch physical increase limited as provided in the preceding sentence,\nshall be subject to the limitations on increases provided in\nsubdivisions one, two and three of section eighteen hundred five of this\narticle. In no event shall the assessed value of the affected real\nproperty appearing on an assessment roll completed for any given year\nfrom two thousand fifteen to two thousand twenty exceed what the\nassessed value would have been that year but for any physical decreases\nor physical increases reflected in the assessed values on the assessment\nrolls completed from two thousand thirteen to two thousand twenty.\n (b) For affected real property for which the assessed value on the\nassessment roll completed in two thousand fourteen or two thousand\nfifteen reflects a physical increase, the assessed value as it appeared\non the assessment roll completed in two thousand fifteen shall be\nrecalculated as if the limitation in paragraph (a) of this subdivision\nhad been in effect for the assessment rolls completed in two thousand\nfourteen and two thousand fifteen. The recalculation of the assessed\nvalue that appeared on the assessment roll completed in two thousand\nfifteen shall not affect the amount of taxes that were due and payable\nfor the fiscal year beginning on the first of July, two thousand\nfourteen. The assessed value on the assessment rolls completed for each\nof the years from two thousand sixteen to two thousand twenty shall be\nsubject to the limitation on increases provided in paragraph (a) of this\nsubdivision. Notwithstanding any provision to the contrary, the assessor\nis authorized to correct as provided in this paragraph the assessed\nvalue of affected real property appearing on the assessment roll\ncompleted in two thousand fifteen. Such correction shall be made no\nlater than ninety days after the effective date of a local law adopted\nin accordance with this section.\n (c) Notwithstanding paragraphs (a) and (b) of this subdivision, in the\nevent that the total square footage of the improvements on the affected\nreal property appearing on any assessment roll completed from two\nthousand fourteen to two thousand twenty exceeds the total square\nfootage of the improvements on the property appearing on the assessment\nroll completed in two thousand twelve, the amount of the aggregate\nphysical increase shall not exceed the amount computed by multiplying\nthe sum of the physical increases as calculated subject to this\nsubdivision by a fraction, the numerator of which is equal to the amount\nof the total square footage of the improvements on the property for the\ncurrent assessment roll, and the denominator of which is equal to the\namount of the total square footage of the improvements on the property\nfor the assessment roll completed in two thousand twelve. For purposes\nof this paragraph, if improvements on the property located below grade\nwere not included in the total square footage of the improvements on the\nproperty for the assessment roll completed in two thousand twelve, such\nimprovements shall not be included in the total square footage for\nsubsequent assessment rolls if the improvements were moved above grade\nor other building elevations were constructed on the property to prevent\nor mitigate flooding as part of reconstruction or repair in connection\nwith the damage caused by the severe storm that occurred on the\ntwenty-ninth and thirtieth of October, two thousand twelve.\n