Local law · Int 0040-2024
Increasing transparency and accountability in the real property tax assessment process
Official titleShow
A Local Law to amend the administrative code of the city of New York, in relation to increasing transparency and accountability in the real property tax assessment process
The heading above is this same sentence with its legal opening removed. No words were added, changed or reordered.
New York City Council
Summary
Currently, property tax assessors from the Department of Finance (DOF) are required to conduct a personal examination of every parcel of taxable real property once every three years and every parcel of non-taxable real property once every five years. This local law would require DOF to annually publish the list of all parcels that were personally examined by a property tax assessor identified by borough, block and lot and street address, the date on which the examination occurred, whether the parcel is taxable or non-taxable and the method by which the parcel was examined. In addition, the local law would require assessors to document the valuation method used to assess a parcel, including the reason such valuation method was chosen, and, where applicable, to document the comparable properties used to assess a parcel, including the reason such comparable properties were chosen. The local law would also require that DOF annually publish on its website the guides, manuals, protocols, policies or procedures used by the assessors to assess and value property. Lastly, this local law would require that the Notice of Property Value (NOPV) sent to cooperatives and condominiums list the comparable properties used to assess the value of the property and, where the comparable properties are different than those used in the prior tax year, the NOPV should indicate the fact of such change and the reason for the change.
Summary from NYC Council (Legistar). How we handle summaries
From the NYC Council's legislative record (Legistar) and official rosters. This record was last updated Sep 7, 2026. About our data
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Where it stands
The session ended before it was voted on. It was not defeated; it simply ran out of time, which is what happens to most legislation. It would have to be reintroduced.
- Introduced
- In committee
- Up for a vote
- Passed one chamber
- Passed
- Enacted
Committee
Committee on Finance
Cosponsors
David M. Carr, Farah N. Louis and 5 others
Cosponsors in the order the New York City Council lists them.
- Democratic4
- Republican2
This bill has cosponsors from more than one party.
Party is shown for the 6 cosponsors who are on Agora.
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Names without a link are in the official record but not on Agora.
Full history
- Dec 31, 2025
Filed
This Introduction was Filed (End of Session)
NYC Council
- Feb 8, 2024
Introduced
This Introduction was Introduced by Council
NYC Council
- Feb 8, 2024
Referred to committee
This Introduction was Referred to Comm by Council to the Committee on Finance
NYC Council