11/28/2022 Assessment Community Weekly

Several property tax-related bills still awaiting delivery to Governor Hochul

With just over a month before the end of the year, several property tax-related bills remain to be delivered to Governor Hochul. Included are the following:

• Assembly Bill No. 3491-b (the long-awaited Condo Bill) would give localities the option to assess new condos and co-ops using the market approach (rather than the income approach).
• Assembly Bill No. 10155-a would give localities statewide the option to offer an exemption for volunteer firefighters and ambulance workers, while standardizing the exemption criteria in jurisdictions that currently offer the exemption.
• Assembly Bill No. 1980 would require a second notice to be sent to homeowners regarding potential eligibility for the senior citizens exemption.

Once a bill is delivered, the Governor generally has 10 days (not counting Sundays) to decide whether to sign it into law or veto it. Stay up-to-date on all of this session’s property tax-related bills at Current status of property tax-related legislation.

Also, stay informed about property tax-related news

The news doesn’t stop during the holidays. Stay on top of property tax-related stories by visiting Assessment and Property Tax News. Many thanks to the team members who add links every afternoon!