Provides that in proceedings to review real property assessments in N.Y. city assessing method, capitalization rate, etc. must be disclosed
Summary
This bill amends the Real Property Tax Law to require additional disclosure in judicial proceedings challenging real property tax assessments in a city with a population of one million or more, which in practice applies to New York City. Specifically, when a respondent serves an answer or notice in an assessment review proceeding, it must disclose the assessing method used, any capitalization rate used, and any other data or formula used to determine the property’s valuation.
The bill also provides that these disclosure requirements apply to proceedings commenced or pending on or after the effective date. For pending cases where the disclosure deadline has already passed, the required information must be provided within 30 days after the law takes effect, and the petitioner receives a 30-day continuance to review the disclosures and adjust evidence, documents, or motions accordingly.
Impact
The bill would change the procedural rules governing real property tax assessment challenges under section 714 of the Real Property Tax Law by imposing a new disclosure obligation on respondents in valuation review cases. It would give petitioners access to the valuation methodology and inputs used by the assessing authority, potentially affecting litigation strategy, settlement discussions, and the ability to contest assessments in New York City property tax proceedings.
Sentiment
The available record shows the bill was introduced and referred to the Assembly Committee on Real Property Taxation, with no recorded votes or committee transcript excerpts provided. Based on the bill’s content, it appears aimed at increasing transparency in assessment litigation, and there is no direct evidence in the record of opposition or support. The overall posture is procedural and reform-oriented rather than controversial on its face.
Contention
The main point of contention likely concerns the burden on assessing authorities and respondents versus the benefit to property owners challenging assessments. Supporters would likely favor the added transparency and fairness in access to valuation data, while opponents may argue that mandatory disclosure of assessing methods, capitalization rates, and formulas could expose proprietary or technical assessment practices and increase litigation complexity. No specific stakeholder positions are documented in the provided materials.
Same As
Provides that in judicial proceedings to review real property assessments in cities of one million or more inhabitants, the assessing method, capitalization rate, and other data or formula used to determine valuation must be disclosed to the petitioner.
Provides that in judicial proceedings to review real property assessments in cities of one million or more inhabitants, the assessing method, capitalization rate, and other data or formula used to determine valuation must be disclosed to the petitioner.
Provides that in judicial proceedings to review real property assessments in cities of one million or more inhabitants, the assessing method, capitalization rate, and other data or formula used to determine valuation must be disclosed to the petitioner.
Provides representation to veterans that are at or below four hundred percent of the federal poverty guidelines for matters involving children, sustenance and real property proceedings.