This article is adopted pursuant to 1997 Laws of New York Chapter 293 for the purpose of preventing lower assessments of converted condominiums.
[Adopted 5-23-2007 by L.L. No. 2-2007 (Ch. 118, Art. III, of the 2016 Code)]
For the purposes of this article, "converted condominium unit" shall mean a dwelling unit that has previously been on the assessment roll as a dwelling unit in other than condominium form of ownership and has not been previously subject to the provisions of § 339-y, Subdivision 1(f), of the NYS Real Property Law and § 581, Subdivision 1, of the NYS Real Property Tax Law.
This article shall take effect immediately.