File #: Int 0391-2006    Version: * Name: Real property tax surcharge on certain class one properties.
Type: Introduction Status: Enacted
Committee: Committee on Finance
On agenda: 6/29/2006
Enactment date: 7/11/2006 Law number: 2006/027
Title: A Local Law to amend the administrative code of the city of New York, in relation to a real property tax surcharge on certain class one properties.
Sponsors: David I. Weprin, Thomas White, Jr., (by request of the Mayor)
Council Member Sponsors: 3
Attachments: 1. Committee Report, 2. Fiscal Impact Statement, 3. Hearing Transcript, 4. Hearing Transcript - Stated Meeting 6/29/06, 5. Local Law
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
7/11/2006*David I. Weprin City Council Recved from Mayor by Council  Action details Meeting details Not available
7/11/2006*David I. Weprin Mayor Signed Into Law by Mayor  Action details Meeting details Not available
7/11/2006*David I. Weprin Mayor Hearing Held by Mayor  Action details Meeting details Not available
6/29/2006*David I. Weprin City Council Sent to Mayor by Council  Action details Meeting details Not available
6/29/2006*David I. Weprin City Council Approved by CouncilPass Action details Meeting details Not available
6/29/2006*David I. Weprin City Council Introduced by Council  Action details Meeting details Not available
6/29/2006*David I. Weprin City Council Referred to Comm by Council  Action details Meeting details Not available
6/29/2006*David I. Weprin Committee on Finance Hearing on P-C Item by Comm  Action details Meeting details Not available
6/29/2006*David I. Weprin Committee on Finance P-C Item Approved by CommPass Action details Meeting details Not available
Int. No. 391
 
By Council Member Weprin and White Jr.(by request of the Mayor)  
 
 
A Local Law to amend the administrative code of the city of New York, in relation to 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 amended by local law number 6 for the year 2004, 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] zero percent of the net real property taxes for fiscal years beginning on or after July first, two thousand 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, except that if it shall have become a law after July 1, 2006, it shall be retroactive to and deemed to have been in full force and effect on and after July 1, 2006.