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File #: Res 0434-2006    Version: * Name: Computing & Certifying Base Percentage, Current Percentage and Current Base Proportion of each Class of Real Property for FY'07 to the State Board of Real Property Services pursuant to Section 1803-a, Real Property Tax Law.
Type: Resolution Status: Adopted
Committee: Committee on Finance
On agenda: 7/19/2006
Enactment date: Law number:
Title: Resolution computing and certifying base percentage, current percentage and current base proportion of each class of real property for fiscal 2007 to the State Board of Real Property Services pursuant to Section 1803-a, Real Property Tax Law.
Sponsors: David I. Weprin, Leroy G. Comrie, Jr.
Council Member Sponsors: 2
Attachments: 1. Committee Report, 2. Resolution - Exhibit A, 3. Hearing Transcript, 4. Hearing Transcript - Stated Meeting 7/19/06
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
7/19/2006*David I. Weprin City Council Approved, by CouncilPass Action details Meeting details Not available
7/19/2006*David I. Weprin City Council Referred to Comm by Council  Action details Meeting details Not available
7/19/2006*David I. Weprin City Council Introduced by Council  Action details Meeting details Not available
7/19/2006*David I. Weprin Committee on Finance Hearing on P-C Item by Comm  Action details Meeting details Not available
7/19/2006*David I. Weprin Committee on Finance P-C Item Approved by CommPass Action details Meeting details Not available
Res. No. 434
 
 
Resolution computing and certifying base percentage, current percentage and current base proportion of each class of real property for fiscal 2007 to the State Board of Real Property Services pursuant to Section 1803-a, Real Property Tax Law.
 
 
By Council Members Weprin and Comrie
 
Whereas, on November 14, 2005, the State Board of Real Property Services (the "SBRPS") certified the final state equalization rate, class ratios and class equalization rates for the City's Fiscal 2007 assessment rolls, required by Article 18, Real Property Tax Law; and
 
Whereas, Section 1803-a (1), Real Property Tax Law, requires the Council to compute and certify, to the SBRPS, for each tax levy, the base percentage, the current percentage and the current base proportion of each class of real property in the City subsequent to the date on which the SBRPS files with the Clerk of the Council a certification setting forth the final state equalization rate, class ratios and class equalization rates for the City's Fiscal 2007 assessment rolls, pursuant to Section 1212, Real Property Tax Law; and
 
Whereas, Section 1803-a, Real Property Tax Law, currently requires that if any increase in the current base proportion for any class of real property, as compared with the previous year's adjusted base proportion for such class of property shall exceed 5 percent, such excess over 5 percent must be shifted to any other class of property;
 
        NOW, THEREFORE, be it resolved by The Council of The City of New York as follows:
 
Section 1.  Computation and Certification of Base Percentages, Current Base Percentages and Current Base Proportions for Fiscal 2007.  (a) The Council hereby computes and certifies the base percentage, the current percentage and the current base percentage for the City's Fiscal 2007 assessment rolls as shown on SBRPS Form RP-6700, attached hereto as Exhibit A and incorporated herein by reference (the "CBP Certificate").  
 
(b) The Clerk of the Council is hereby authorized and directed to execute the CBP Certificate and to file it with the SBRPS after the date on which the SBRPS filed with the Clerk of the Council a certification setting forth the final state equalization rate, class ratios and class equalization rates for the City's Fiscal 2007 assessment rolls, pursuant to Section 1212, Real Property Tax Law.
 
Section 2.  Effective Date.  This resolution shall take effect immediately and shall be retroactive and deemed to have been in full force and effect as of June 29, 2006.