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History
- Print number 2418a
- Amend and recommit to local government
- Referred to local government
- Referred to local government
Companion bill
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Prohibits assessors from increasing the assessments of forestland based on the stumpage value of the trees thereon
In Assembly Committee · Real Property Taxation · Sponsor David Koon
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to prohibit local assessors from increasing the assessed value of real property based on the stumpage value of the trees thereon and to establish the forestland taxation task force; and providing for the repeal of such provisions upon the expiration thereof
Purpose
This bill prohibits local assessors from increasing the assessed value of real property based on the stumpage value of the trees thereon and establishes the forestland taxation task force.
Summary of provisions
This legislation prohibits local assessors from increasing the assessed value of real property based on the stumpage value of the trees thereon and establishes the forestland taxation task force. The task force shall examine, evaluate and make recommendations on assessment and taxation of private forest lands which are consistent with promoting sustainable forestry practices, encouraging private investment in working forests and maintaining open spaces. The task force shall issue a report with its recommendations to the Governor and the Legislature before April 30, 2010.
Justification
Private forest owners who steward their land for forest uses provide great value and social contributions to the state's goals to promote open space, Escalating land and timber values, in addition to increasing municipal budgets, have left private forest landowners facing significant assessment and property tax increases. Revaluation of forested parcels often results in assessment increases of 30-50% compounded by the tax rate increases associated with the annual growth of municipal budgets. These unanticipated property tax increases leave the owners of forestland with an economically unsustainable resource that may have to be liquidated, resulting in loss of forested open spaces.
This legislation prohibits local assessors from increasing the assessed value of real property based on the stumpage value of the trees. It also establishes the forestland taxation task force which will look to ensure that present and future forestlands may be protected and enhanced as a viable segment of the state's economy and as an environmental resource. Specifically, the forestland taxation task force will address how to obtain equitable and consistent assessment of forest lands statewide.
Legislative history
S.7776A - 2006 S.2775A - 2008
Fiscal implications
None to the State.
Effective date
Effective immediately and sunsets on May 1, 2011.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.