2023 New York Laws › RPT - Real Property Tax › Article 19 - Preservation of Class Share of Taxes Other Than in Special Assessing Units › 1904 - Transition Assessment.

§  1904.  Transition assessment. 1. The governing body of any approved
assessing unit may adopt the provisions of this  section  by  local  law
without  referendum,  no  later  than thirty days prior to filing of the
tentative assessment roll in the first year of a revaluation,  provided,
however,  that  if  the  governing  body  of  a  town adopts a local law
pursuant to this subdivision the provisions of this section shall  apply
to each eligible non-assessing unit village within such town.
2. The assessors in each approved assessing unit which has adopted the
provisions of this section shall, in the first year in which revaluation
assessments are to be entered on the assessment roll and for each of the
next  three  succeeding  years,  determine for each parcel for which the
revaluation assessment is greater  than  the  assessment  for  the  same
parcel  on  the  immediately  preceding  assessment  roll,  a transition
assessment as follows:
(a)  In  the  first  year  subtract  the  prior  assessment  from  the
revaluation assessment, divide the difference by five and add the result
to such prior assessment.
(b)  In  the  second  year,  subtract  the  prior  assessment from the
revaluation assessment, divide the difference by four and add the result
to such prior assessment.
(c) In  the  third  year,  subtract  the  prior  assessment  from  the
revaluation  assessment,  divide  the  difference  by  three and add the
result to such prior assessment.
(d) In the  fourth  year,  subtract  the  prior  assessment  from  the
revaluation  assessment, divide the difference by two and add the result
to such prior assessment.
(e) In the fifth year and thereafter, the revaluation assessment shall
be the assessment.
3. The assessors in each approved assessing unit which has adopted the
provisions of this section shall, in the first year in which revaluation
assessments are to be entered on the assessment roll and for each of the
next three succeeding years, determine for each  parcel  for  which  the
revaluation  assessment  is less than the assessment for the same parcel
on the immediately preceding assessment roll, a transition assessment as
follows:
(a) In the first year, subtract the revaluation  assessment  from  the
prior  assessment, divide the difference by five and subtract the result
from such prior assessment.
(b) In the second year, subtract the revaluation assessment  from  the
prior  assessment, divide the difference by four and subtract the result
from such prior assessment.
(c) In the third year, subtract the revaluation  assessment  from  the
prior assessment, divide the difference by three and subtract the result
from such prior assessment.
(d)  In  the fourth year, subtract the revaluation assessment from the
prior assessment, divide the difference by two and subtract  the  result
from such prior assessment.
(e) In the fifth year and thereafter, the revaluation assessment shall
be the assessment.
4.  In  the  event  that  new property is added to a parcel during the
first, second, third or fourth year, such assessors shall  increase  the
prior  year's  assessment  for such parcel by an amount which equals the
product of multiplying the revaluation assessment for such new  property
by  the  state  equalization  rate  established for the prior assessment
roll.
5. In the event that any portion of a parcel  is  fully  or  partially
removed  from the roll during the first, second, third or fourth year by
reason of fire, demolition, destruction or new exemption such  assessors

shall  reduce  the  prior year's assessment for any remaining portion in
the same proportion as the revaluation assessment is  reduced  for  such
fire, demolition, destruction or new exemption.
6.   Notwithstanding   any   other  provision  of  this  chapter,  the
commissioner shall prescribe a form of the assessment roll to enable the
assessors of approved assessing units to make the entries on the roll in
accordance with the provisions of this section.
7.  In  establishing   state   equalization   rates,   special   state
equalization  rates  and special state equalization ratios under article
twelve, article twelve-A and  article  twelve-B  of  this  chapter,  the
commissioner  shall  use  the  transition assessments as provided for in
this section in its determinations.
8. The provisions of this section shall not apply to the assessment of
real property owned by the  state  and  which  is  subject  to  taxation
pursuant  to  title  two  of article five of this chapter, nor shall the
provisions of this section apply to the assessment of any real  property
for  which  a statute provides that a state equalization rate or special
equalization rate shall be employed to determine the assessed  value  or
the taxable assessed value.