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                                REVALUATIONS ON CONDOMINIUMS IN NEW YORK STATE

 

For owners living in a Condominium Association who are thinking of challenging the tax assessment amount that their local municipality is applying to their condo unit, the following information is critical to understand during that process:

 

  • As a condominium owner your assessment amount is not based on what your unit or what your neighbors unit current sales value is/was, etc.
  • As a condominium owner your assessment is based on, in part, the rental value of your unit.  This is different than all other residential homes, and is outlined in the New York Real Property Law 339Y.
  • You may need to enlist the services of a real estate appraiser to determine the rental value of your unit.
  • You may need to work with your Association Board and other owners collectively and present your challenge as a group.
  • There are yearly deadlines to filing a challenge to your assessment and you should follow the procedural details which were listed in your revaluation information.                                       

New York State Condominium act 339Y http://law.justia.com/newyork/codes/real-property/idx_rpp0a9-b.html

 

'Property Tax Monitor', July 2008, discusses condominiums - http://www.orps.state.ny.us/monitor/jul08/

 

 

 

                         NEW YORK STATE LEGISLATIVE ACTION COMMITTEE (LAC)

 

The New York State Legislative Action Committee represents the interests of community associations in Albany.  This Committee is responsible for identifying legislative issues of importance to common interest communities at the local, regional and statewide level.  (Note that National’s Government and Public Affairs monitors federal legislation.) The committee also monitors legislation and helps the Chapter set specific issue priorities.

 

Members of the NYS CAI LAC include two chapter delegates from each of New York’s three chapters as well as at-large delegates:

 

Jim Andruschat - At-Large, Getzville

Bob Bailly – Hudson Valley Delegate, Hyde Park

Greg Carlson – At-Large, Forest Hills

Ruth DeRoo – At-Large, Ballston Spa

Mary Fildes – At-Large, Amherst, LAC Treasurer

George Gati – Hudson Valley Delegate, Stormville, LAC Co-Chair

Jean Kough – WNY Delegate, Williamsville

John LaGumina, Esq., - Hudson Valley Delegate, Purchase

Frank Lysiak – At-Large, Buffalo

Diane Miller - Long Island Delegate

Mary Ann Rothman – At-Large, New York

Michael Schroder, Esq., Long Island Delegate

Rob Schwarting – At-Large, Penn Yan, LAC Co-Chair

Ron Shubert, Esq., - WNY Delegate, Buffalo

 

Jennifer Evangelista – NYS LAC Administrator, 607.591.6569, jld21@cornell.edu

 

 

Click here to link to CAI's Heads-Up to view important legislation at the federal and all states' levels:  http://www.caionline.org/GOVT/NEWS/Pages/default.aspx           

 


 
 

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