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Int 1750-2017

Requiring the dept of finance to provide new homeowners with information about real property taxes and exemptions.

IntroductionEnactedCommittee on Financeintroduced 2017-10-31Local Law 2018/026

Enacted as Local Law 2018/026.

Official record · Legistar

Agenda: 2017-10-31Passed: 2017-12-31Enacted: 2017-12-31

Summary

The Department of Finance (DOF) is required to publish a property tax informational brochure for class 1 and class 2 properties describing the way those properties are valued and assessed, explaining how those values affect property tax bills, providing information about property tax exemptions, and setting forth the timeline of relevant property tax deadlines. This local law would require that, whenever a document transferring ownership of a one-to-four family home or a residential cooperative and condominium is recorded with the City Register or Richmond County Clerk, DOF would have to mail or email a copy of the property tax informational brochure to the new homeowners.

Committee on FinanceExecutive Budget review and Budget modification, Banking Commission, Comptroller's Office, Department of Finance, Independent Budget Office, Office of Administrative Tax Appeal, and fiscal policy and revenue from any source.

How it compares

44% of similar bills passed

22 passed · 28 died

This bill: 29 days in committee

Similar bills: median 278 days · 42 days when passed

Sponsors (5)

Lifecycle

IntroducedIntroduced by Council
2017-10-31 · City Council
ActionReferred to Comm by Council
2017-10-31 · City Council
HeardHearing Held by Committee
2017-11-15 · Committee on Finance
HeldLaid Over by Committee
2017-11-15 · Committee on Finance
HeardHearing Held by Committee
2017-11-30 · Committee on Finance
ActionAmendment Proposed by Comm
2017-11-30 · Committee on Finance
ActionAmended by Committee
2017-11-30 · Committee on Finance
AdvancedApproved by Committee
2017-11-30 · Committee on Finance
AdvancedApproved by Council
2017-11-30 · City Council
ActionSent to Mayor by Council
2017-11-30 · City Council
HeardHearing Scheduled by Mayor
2017-12-18 · Mayor
AdvancedCity Charter Rule Adopted
2017-12-31 · Administration

Votes (11)

Aye (8)
Steven MatteoJames G. Van BramerYdanis A. RodriguezVanessa L. GibsonRobert E. Cornegy, Jr.Mark LevineHelen K. RosenthalJulissa Ferreras-Copeland
Absent (3)
Laurie A. CumboCorey D. JohnsonI. Daneek Miller

Heard at (4)

City Council · 2017-11-30 · 1:30 PM · Council Chambers - City Hall
Committee on Finance · 2017-11-30 · 10:00 AM · Committee Room - City Hall
Committee on Finance · 2017-11-15 · 10:00 AM · Council Chambers - City Hall
City Council · 2017-10-31 · 1:30 PM · Council Chambers - City Hall

Attachments (17)

Full text
Be it enacted by the Council as follows: Section 1. Section 11-135 of the administrative code of the city of New York is amended by adding a new subdivision 4 to read as follows: 4. Upon the recording of any document with the city register or the office of the Richmond county clerk transferring an ownership interest in any class one property or in any class two property that is a residential condominium or residential cooperative or a four family residential property, as such classes of property are defined in subdivision one of section eighteen hundred two of the real property tax law, the department shall send by mail, or, for any owner whose email address is known to the department, by email, such brochure to the grantee or grantees of such ownership interest. � 2. This local law takes effect July 1, 2018. RKC LS #11617 9/27/2017, amended 11/20/2017 1