City of Rye, NY
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2023-06-14
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The Code
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Part II: General Legislation
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Chapter 177 Taxation
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Article XIII Real Property Assessment of Converted Condominiums
- The Charter
- Ch C Charter
- The Code
- Part I: Administrative Legislation
- Ch 1 General Provisions
- Ch 9 Continuity of Government
- Ch 10 Committees
- Ch 12 Early Retirement Incentive
- Ch 15 Ethics, Code of
- Ch 22 Human Rights, Commission of
- Ch 31 Police Pension Fund
- Ch 32 Procurement Policy
- Ch 34 Sale of City Property
- Ch 35 Traffic Violations Bureau
- Ch 36 Travel and Convention Expenses
- Part II: General Legislation
- Ch 45 Air Pollution
- Ch 46 Alarm Systems
- Ch 47 Alcoholic Beverages
- Ch 50 Amusements and Exhibitions
- Ch 52 Appearance Tickets
- Ch 53 Architectural Review
- Ch 56 Auctioneers
- Ch 61 (Reserved)
- Ch 64 Boats and Harbors
- Ch 68 Building Construction
- Ch 69 Buildings, Numbering of
- Ch 71 Buildings, Unsafe
- Ch 72 Buildings, Vacant
- Ch 73 Coastal Zone Management Waterfront Consistency Review
- Ch 74 Community Choice Aggregation (Energy) Program
- Ch 76 Dogs
- Ch 81 Electrical Standards
- Ch 83 Energy Conservation Financing: Pace Program
- Ch 84 Energy Conservation Financing: Open C-Pace Program
- Ch 87 Escrow Provisions
- Ch 88 Explosives, Blasting and Mechanical Rock Excavation
- Ch 89 Fats, Oils and Grease Abatement
- Ch 90 Fences and Walls
- Ch 92 (Reserved)
- Ch 93 Filming
- Ch 95 Firearms
- Ch 98 Fire Prevention
- Ch 100 Floodplain Management
- Ch 102 (Reserved)
- Ch 104 Graffiti
- Ch 106 Helicopters and Other Aircraft
- Ch 108 Housing Standards
- Ch 113 Junk Dealers
- Ch 117 Landmarks Preservation
- Ch 121 Laundromats
- Ch 122 Leaf Blowers
- Ch 125 Licenses
- Ch 128 Local Improvement Assessments
- Ch 133 Noise
- Ch 138 Parking Lots
- Ch 141 Peace and Good Order
- Ch 144 Peddling and Soliciting
- Ch 145 Public Officers Indemnification
- Ch 147 Records Management
- Ch 149 Refrigerators, Abandoned
- Ch 153 Residential Care Facilities
- Ch 154 Retail Checkout Bags
- Ch 155 Retail Dispensary and On-Site Consumption Licenses Opt-Out
- Ch 157 Sanitary Regulations
- Ch 161 Sewers
- Ch 162 Storm Sewer System
- Ch 164 Shopping Carts
- Ch 165 Signs
- Ch 166 Smoking and Vaping
- Ch 166A Steep Slope Protection
- Ch 167 Streets and Sidewalks
- Ch 170 Subdivision of Land
- Ch 173 (Reserved)
- Ch 174 Stormwater Management
- Ch 176 (Reserved)
- Ch 177 Taxation
- Ch 177 Art XIII Real Property Assessment of Converted Condominiums
- § 177-83 Legislative findings.
- § 177-84 Definitions.
- § 177-85 Applicability.
- Ch 180 Taxicabs
- Ch 183 Tax Liens, Disposition of
- Ch 185 Telecommunications
- Ch 187 Trees
- Ch 191 Vehicles and Traffic
- Ch 194 Water
- Ch 195 Wetlands and Watercourses
- Ch 196 Wireless Telecommunications Facilities
- Ch 197 Zoning
- Appendix
- Ch A201 (Reserved)
- Disposition List
- Ch DL Disposition List
[Added 11-7-2018 by L.L.
No. 7-2018]
A.
The City Council hereby finds that residential condominium units
incur a significant difference in property taxes compared to comparably
priced single-family homes under conventional forms of property ownership.
B.
By reason of the foregoing, the City Council believes it is necessary
to adopt a local law to prevent residential property owners from converting
to a condominium form of ownership that would result in a lower assessment,
which, if permitted, would unfairly lower the property tax burden
for the converted property, while increasing the property tax burden
to owners of property in a conventional form of ownership.
As used in this article, the following term shall have the meaning
indicated:
A dwelling unit held in condominium form of ownership that
has previously been on an assessment roll as a dwelling unit in other
than condominium form of ownership and has not been previously subject
to the provisions of § 581, Subdivision 1(a), of the Real
Property Tax Law or § 399-y, Subdivision 1(b), of the Real
Property Tax Law.[1]
[1]
Editor's Note: See § 339-y, Subdivision 1(b), of
the Real Property Tax Law.
In accordance with § 581, Subdivision 1(c), of the
Real Property Tax Law and § 399-y, Subdivision 1(f), of
the Real Property Tax Law,[1] which otherwise permits condominium units to be valued
for purposes of real property assessment by using a capitalization
of income approach or a cost approach, neither § 581, Subdivision
1(a), of the Real Property Tax Law nor § 399-y, Subdivision
1(b), of the Real Property Tax Law shall apply to any converted condominium
units in the City of Rye.
[1]
Editor's Note: See § 339-y, Subdivision 1(f), of
the Real Property Tax Law.
