New Paradigm: Municipalities Seeking Legislative Relief
November 14, 2011, 2:42 PM EST
Law360, New York (November 14, 2011, 2:42 PM EST) -- During the 2011 legislative session, municipalities in New York sought relief from possible large real property tax litigation via legislation. One such legislative proposal sought to amend Real Property Tax Law Article 19. The proposed legislation sought to change the playing field relative to a single large taxpayer seeking assessment relief through judicial review.
Real Property Tax Law Article 19 establishes a two-class system — homestead and non-homestead — with the legislatively stated intent to reduce the tax burden on homestead parcels, primarily, residential owners....