New York City Council Header
File #: Int 0303-2004    Version: * Name: Imposition of a real property tax surcharge on certain class one properties.
Type: Introduction Status: Enacted
Committee: Committee on Finance
On agenda: 3/24/2004
Enactment date: 4/15/2004 Law number: 2004/006
Title: A Local Law to amend the administrative code of the city of New York in relation to the imposition of a real property tax surcharge on certain class one properties.
Sponsors: David I. Weprin
Council Member Sponsors: 1
Attachments: 1. Committee Report, 2. Fiscal Impact Statement, 3. Local Law, 4. Hearing Transcript, 5. Hearing Transcript - Stated Meeting 3/24, 6. Hearing Transcript - Stated Meeting 4/1
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
4/15/2004*David I. Weprin City Council Recved from Mayor by Council  Action details Meeting details Not available
4/15/2004*David I. Weprin Mayor Signed Into Law by Mayor  Action details Meeting details Not available
4/15/2004*David I. Weprin Mayor Hearing Held by Mayor  Action details Meeting details Not available
4/1/2004*David I. Weprin City Council Sent to Mayor by Council  Action details Meeting details Not available
4/1/2004*David I. Weprin City Council Approved by CouncilPass Action details Meeting details Not available
3/24/2004*David I. Weprin City Council Laid Over by Council  Action details Meeting details Not available
3/24/2004*David I. Weprin City Council Referred to Comm by Council  Action details Meeting details Not available
3/24/2004*David I. Weprin City Council Introduced by Council  Action details Meeting details Not available
3/24/2004*David I. Weprin Committee on Finance Hearing on P-C Item by Comm  Action details Meeting details Not available
3/24/2004*David I. Weprin Committee on Finance P-C Item Approved by CommPass Action details Meeting details Not available
Int. No. 303
 
By Council Member Weprin.
 
 
 
A Local Law to amend the administrative code of the city of New York in relation to the imposition of a real property tax surcharge on certain class one properties.
 
 
Be it enacted by the Council as follows:
 
      Section 1.  Subdivision a of section 11-238 of the administrative code of the city of New York, as added by local law 47 for the year 2003, is amended to read as follows:
      a.  Imposition of surcharge.  A real property tax surcharge is hereby imposed on class one property, as defined in section eighteen hundred two of the real property tax law, excluding vacant land, that provides rental income and is not the primary residence of the owner or owners of such class one property, or the primary residence of the parent or child of such owner or owners, in an amount equal to twenty-five percent of the net real property taxes for fiscal years beginning on or after July first two thousand [three] six.  As used in this section, "net real property tax" means the real property tax assessed on class one property after deduction for any exemption or abatement received pursuant to the real property tax law or this title.  
      ยง2.      This local law shall take effect immediately.