New York § 589 Change in allocation factor

New York Statutes

§ 589 — Change in allocation factor

New York § 589

Law RPTReal Property Tax

Title 4-AAssessment and Taxation of Watershed Conservation Easements and Watershed Agricultural Easements Acquired By or On Behalf of the City of New York For Watershed Protection Purposes

Art. 5Assessment Procedure

This text of New York § 589 (Change in allocation factor) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Real Property Tax § 589 (2026).

Text

§ 589. Change in allocation factor.

1.At any time after the\nallocation factor is initially certified to the assessing unit, upon the\nrequest of the city or the owner of the parcel burdened by the easement,\nthe commissioner may compute and certify a new allocation factor based\non a change in circumstances. A request for a review of the allocation\nfactor shall be made by submitting to the commissioner (a) a written\nrequest by the landowner, (b) a written request by the city setting\nforth the claimed change in circumstances, (c) a written stipulation\nentered into by the city and the landowner setting forth the new\nallocation factor, or (d) an appraisal or appraisals performed by a\nlicensed real estate appraiser within one year of submission setting\nforth the current fair market

Free access — add to your briefcase to read the full text and ask questions with AI

§ 589. Change in allocation factor. 1. At any time after the\nallocation factor is initially certified to the assessing unit, upon the\nrequest of the city or the owner of the parcel burdened by the easement,\nthe commissioner may compute and certify a new allocation factor based\non a change in circumstances. A request for a review of the allocation\nfactor shall be made by submitting to the commissioner (a) a written\nrequest by the landowner, (b) a written request by the city setting\nforth the claimed change in circumstances, (c) a written stipulation\nentered into by the city and the landowner setting forth the new\nallocation factor, or (d) an appraisal or appraisals performed by a\nlicensed real estate appraiser within one year of submission setting\nforth the current fair market value of the easement and the current fair\nmarket value of the land subject to the easement exclusive of\nimprovements and unencumbered by the easement. The commissioner shall\ndefine the changes in circumstances required to change the allocation\nfactor. The party seeking the change in allocation factor shall provide\ncopies of the appraisals and written request to the other party.\n 2. If one party objects to a change in the allocation factor, the\nparty may submit the appraisals specified in subdivision one of this\nsection within ninety days of receipt of the other parties' appraisal or\nwritten request.\n 3. The commissioner shall review the materials submitted and issue a\ncurrent allocation factor determined by the materials submitted.\n 4. If judicial review is sought to challenge a determination under\nthis section, the action shall be commenced in the county in which the\nreal property is located.\n