Authorizes a real property tax credit for police and firefighters in certain counties upon enactment of a local law

2 Co-sponsors

• Craig M. Johnson
• George Onorato

Title of bill

An act to amend the real property tax law, in relation to establishing certain tax credits for resident police officers and firefighters

Purpose

This legislation provides certain municipalities with a local law option to offer a real property tax credit that is intended to encourage residency by police officers and firefighters within these municipalities.

Summary of provisions

Section 1 - authorizes cities with a population between two hundred ninety thousand and one million to adopt a local law authorizing a real property tax credit equal to a reduction of $10,000 of assessed value, times the equalization rate, for resident police officers and firefighters.

Justification

The city of Buffalo is the second largest city in New York State and for years has experienced a dwindling population and tax base. police and Firefighters living outside of Buffalo impacts Buffalo's ability to receive a return on its investment and has been a factor in the City of Buffalo laying off police officers and closing firehouses. By offering this property tax credit, it will promote residency of police Officers and Firefighters, will make Buffalo safer, re-grow its population and bolster its tax base and will lead to making Buffalo more self-sufficient.

Prior legislative history

S.4466/A.8683 of 2003-2004 S.921/A.1719 of 2005-2006

Fiscal implications for state and local governments

None to State.

Effective date

This act shall take effect on the first January next succeeding the date on which it shall become a law, and shall apply to taxable status dates occurring on or after such date.