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Local Law No. 1 - 2019
This local law shall be known as the “Assessment of Converted Condominiums” Law.
BE IT ENACTED by the Town Board of the Town of Mamaroneck
Section 1 – Purpose:
Pursuant to section 581 of the Real Property Tax Law, residential condominium units are assessed at
values that are significantly lower than the assessments of single-family homes of comparable value.
There is a real possibility that properties, including two-family homes, may be converted into
condominium ownership to avail themselves of this favorable tax treatment. If that occurs, the tax
burden will be shifted to the other taxpayers of the Town. Section 581 (1) (c) of the Real Property Tax
Law allows municipal corporations to adopt a local law that prevents properties that are not
condominiums from being converted to condominium ownership and receiving the benefit of the
favorable assessment treatment provided by Real Property Tax Law § 581. By this law, the Town is
availing itself of the power given to it by section 581 (1) (c) of the Real Property Tax Law to prevent
converted condominium units (defined in the new section 195-46 of the Code of the Town of
Mamaroneck) from being assessed in accordance with the provisions of section 581 (1) (a) of the Real
Property Tax Law or section 339-y of the Real Property Law.
Section 2 – Addition of a new Article to a chapter of the Mamaroneck Code:
Chapter 195 of the Code of the Town of Mamaroneck hereby is amended by adding the following
chapter thereto:
Article XI Taxation of Converted Condominiums
§ 195-45 Purpose
Pursuant to section 581 of the Real Property Tax Law, residential condominium units are assessed at
values that are significantly lower than the assessments of single-family homes of comparable value.
There is a real possibility that properties, including two-family homes, may be converted into
condominium ownership to avail themselves of this favorable tax treatment. If that occurs, the tax
burden will be shifted to the other taxpayers of the Town. Section 581 (1) (c) of the Real Property Tax
Law allows municipal corporations to adopt a local law that prevents properties that are not
condominiums from being converted to condominium ownership and receiving the benefit of the
favorable assessment treatment provided by Real Property Tax Law § 581. By this law, the Town is
availing itself of the power given to it by section 581 (1) (c) of the Real Property Tax Law to prevent
converted condominium units (defined in section 195-46, below) from being assessed in accordance with
the provisions of section 581 (1) (a) of the Real Property Tax Law or section 339-y of the Real Property
Law.
§ 195-46 Definition
“Converted Condominium Unit” means a dwelling unit in condominium form of ownership that (a) prior
to May 1, 2019 was assessed as a dwelling unit in other than condominium form of ownership and (b)
has not been previously subject to the provisions of section 581 (1) (a) of the Real Property Tax Law or
section 339-y of the Real Property Law.
§ 195-47 Assessment of a Converted Condominium Unit
A Converted Condominium Unit shall not be assessed in accordance with the provisions of section 581
(1) (a) of the Real Property Tax Law or section 339-y of the Real Property Law but shall be assessed in
accordance with the provisions of Article 3 of the Real Property Tax Law.
Section 3 – Severability:
Should any provision of this Local Law be declared invalid or unconstitutional by any court of competent
jurisdiction, such declaration of unconstitutionality or invalidity shall not affect any other provisions of
this Local Law, which may be implemented without the invalid or unconstitutional provisions.
Section 4 – Effective Date:
This Local Law shall become effective upon filing with the Secretary of State.