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A. 5221: Would Provide that Market Value – Rather than Income-Producing Value – be the Valuation Method for Condominium and Cooperative Property

Bill Number: A. 5221
Position: Support
NYCOM MEMO

Description: This bill would amend Real Property Law § 339-y and Real Property Tax Law§ 581, so that market value – rather than income-producing value – would become the valuation method for condominium and cooperative property.

Status: Click here for bill summary and text.