§ 1904 — Transition assessment

New York § 1904

• Jurisdiction: New York
• Law RPT: Real Property Tax
• Art. 19: Preservation of Class Share of Taxes Other Than In Special Assessing Units

Text

§ 1904. Transition assessment. 1. The governing body of any approved\nassessing unit may adopt the provisions of this section by local law\nwithout referendum, no later than thirty days prior to filing of the\ntentative assessment roll in the first year of a revaluation, provided,\nhowever, that if the governing body of a town adopts a local law\npursuant to this subdivision the provisions of this section shall apply\nto each eligible non-assessing unit village within such town.\n 2. The assessors in each approved assessing unit which has adopted the\nprovisions of this section shall, in the first year in which revaluation\nassessments are to be entered on the assessment roll and for each of the\nnext three succeeding years, determine for each parcel for which the\nrevaluation assessment is greater than the assessment for the same\nparcel on the immediately preceding assessment roll, a transition\nassessment as follows:\n (a) In the first year subtract the prior assessment from the\nrevaluation assessment, divide the difference by five and add the result\nto such prior assessment.\n (b) In the second year, subtract the prior assessment from the\nrevaluation assessment, divide the difference by four and add the result\nto such prior assessment.\n (c) In the third year, subtract the prior assessment from the\nrevaluation assessment, divide the difference by three and add the\nresult to such prior assessment.\n (d) In the fourth year, subtract the prior assessment from the\nrevaluation assessment, divide the difference by two and add the result\nto such prior assessment.\n (e) In the fifth year and thereafter, the revaluation assessment shall\nbe the assessment.\n 3. The assessors in each approved assessing unit which has adopted the\nprovisions of this section shall, in the first year in which revaluation\nassessments are to be entered on the assessment roll and for each of the\nnext three succeeding years, determine for each parcel for which the\nrevaluation assessment is less than the assessment for the same parcel\non the immediately preceding assessment roll, a transition assessment as\nfollows:\n (a) In the first year, subtract the revaluation assessment from the\nprior assessment, divide the difference by five and subtract the result\nfrom such prior assessment.\n (b) In the second year, subtract the revaluation assessment from the\nprior assessment, divide the difference by four and subtract the result\nfrom such prior assessment.\n (c) In the third year, subtract the revaluation assessment from the\nprior assessment, divide the difference by three and subtract the result\nfrom such prior assessment.\n (d) In the fourth year, subtract the revaluation assessment from the\nprior assessment, divide the difference by two and subtract the result\nfrom such prior assessment.\n (e) In the fifth year and thereafter, the revaluation assessment shall\nbe the assessment.\n 4. In the event that new property is added to a parcel during the\nfirst, second, third or fourth year, such assessors shall increase the\nprior year's assessment for such parcel by an amount which equals the\nproduct of multiplying the revaluation assessment for such new property\nby the state equalization rate established for the prior assessment\nroll.\n 5. In the event that any portion of a parcel is fully or partially\nremoved from the roll during the first, second, third or fourth year by\nreason of fire, demolition, destruction or new exemption such assessors\nshall reduce the prior year's assessment for any remaining portion in\nthe same proportion as the revaluation assessment is reduced for such\nfire, demolition, destruction or new exemption.\n 6. Notwithstanding any other provision of this chapter, the\ncommissioner shall prescribe a form of the assessment roll to enable the\nassessors of approved assessing units to make the entries on the roll in\naccordance with the provisions of this section.\n 7. In establishing state equalization rates, special state\nequalization rates and special state equalization ratios under article\ntwelve, article twelve-A and article twelve-B of this chapter, the\ncommissioner shall use the transition assessments as provided for in\nthis section in its determinations.\n 8. The provisions of this section shall not apply to the assessment of\nreal property owned by the state and which is subject to taxation\npursuant to title two of article five of this chapter, nor shall the\nprovisions of this section apply to the assessment of any real property\nfor which a statute provides that a state equalization rate or special\nequalization rate shall be employed to determine the assessed value or\nthe taxable assessed value.\n