N.Y. Real Property Tax Law 551 – Entry by assessor of omitted real property on current assessment roll
§ 551. Entry by assessor of omitted real property on current assessment roll. 1. The assessor of any assessing unit, upon his own motion or upon the application of any taxpayer therein, shall enter on the assessment roll of the current year, prior to the tentative completion thereof, any parcel of real property shown to have been omitted from the assessment roll of the preceding year, at the valuation of that year, or if not then valued, at such valuation as the assessor shall determine for the preceding year. A special franchise assessment after apportionment thereof by the assessor, if necessary, or an assessment of state land subject to taxation for the preceding year which is less than the assessment thereof approved by the commissioner, shall be entered at the valuation determined by the commissioner.
Terms Used In N.Y. Real Property Tax Law 551
- Assessment roll: means the assessment roll as it exists from the time of its tentative completion to the time of the annexation of a warrant for the collection of taxes. See N.Y. Real Property Tax Law 550
- omitted real property: means a parcel wholly omitted from the assessment roll or tax roll, taxable real property entered on the roll as wholly exempt real property, or an error in essential fact as defined in paragraph (d) of subdivision three of this section. See N.Y. Real Property Tax Law 550
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
2. Real property assessed pursuant to this section shall be taxed at the tax rate or tax rates for the preceding year. The amount of tax or taxes levied pursuant to this section shall be deducted from the aggregate amount of taxes to be levied for the current year.