Senate BillIntroduced
S 3213: Relates to assessments of residential cooperative, condominium and rental property; defines the term "the assessment which would be placed upon such parcel were the parcel not owned or leased by a cooperative corporation or on a condominium basis".
What S 3213 does, verified January 8, 2026
The proposed law aims to modify the assessment of residential cooperative, condominium, and rental property in New York State. Currently, the assessment of such properties is based on the income generated from renting the property, which may not accurately reflect the property's value. The new law will exempt properties owned or leased by a cooperative corporation or on a condominium basis from being assessed based on rental income. Instead, the assessment will be based on the property's comparable value to properties owned or leased by a cooperative corporation or on a condominium basis. This change will take effect 180 days after the law is passed and will apply to assessment rolls prepared on or after January 1st of the following year.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: REFERRED TO LOCAL GOVERNMENT (2026-01-07)Alert me
Quick answers about S 3213
- What is the current status of S 3213?
- As of January 8, 2026, S 3213 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "REFERRED TO LOCAL GOVERNMENT".
- Did S 3213 pass?
- Not yet. S 3213 has been introduced and has not passed either house.
- Who wrote S 3213, and where is it now?
- S 3213 was authored by Sen. Brian Kavanagh. Its committee of record is Senate Local Government.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Jan. 07, 2026 | REFERRED TO LOCAL GOVERNMENT |
| Jan. 24, 2025 | REFERRED TO LOCAL GOVERNMENT |
Latest bill textIntroduced version, January 24, 2025 · 321 words
STATE OF NEW YORK ________________________________________________________________________ 3213 2025-2026 Regular Sessions IN SENATE January 24, 2025 ___________ Introduced by Sen. KAVANAGH -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the real property tax law, in relation to assessments of residential cooperative, condominium and rental property The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 581 of the real property tax law is amended by 2 adding a new subdivision 5 to read as follows: 3 5. For the purposes of this section, the term "the assessment which 4 would be placed upon such parcel were the parcel not owned or leased by 5 a cooperative corporation or on a condominium basis" shall not be 6 construed to require real property owned or leased by a cooperative 7 corporation or on a condominium basis to be assessed for purposes of 8 this chapter based on the income that would be generated by real proper- 9 ty occupied for residential purposes on a rental basis (as distinct from 10 a cooperative or condominium basis) or based upon such property occupied 11 on a rental basis that is deemed otherwise comparable to the property 12 owned or leased by a cooperative corporation or on a condominium basis 13 that is to be assessed. 14 § 2. This act shall take effect on the one hundred eightieth day after 15 it shall have become a law and shall apply to assessment rolls prepared 16 on the basis of taxable status dates occurring on or after the first of 17 January next succeeding the date on which this act shall have become a 18 law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07006-01-5
Text of S 3213 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions