New York S03683 requires disclosure of assessing method, capitalization rate, and other valuation data in real property assessment reviews in cities.

New York S03683 amends the real property tax law to mandate that in judicial proceedings reviewing real property assessments in cities with one million or more inhabitants, the assessing method, capitalization rate, and other data or formula used to determine valuation must be disclosed to the petitioner. This disclosure must occur unless the petitioner and respondent agree in writing to a different hearing date. The bill applies to proceedings commenced or pending on or after its effective date, which is 30 days after it becomes law.

New York S03683 requires disclosure of assessing method, capitalization rate, and other valuation data in real property assessment reviews in cities.

New York S03683 amends the real property tax law to mandate that in judicial proceedings reviewing real property assessments in cities with one million or more inhabitants, the assessing method, capitalization rate, and other data or formula used to determine valuation must be disclosed to the petitioner. This disclosure must occur unless the petitioner and respondent agree in writing to a different hearing date. The bill applies to proceedings commenced or pending on or after its effective date, which is 30 days after it becomes law.