Relates to the definition of eligible tract for the purposes of the taxation of forest land

Title of bill

An act to amend the real property tax law, in relation to the definition of "eligible tract" for the purposes of the taxation of forest land

Purpose or general idea of bill

: This bill would amend the real property tax law, to amend the definition of "Eligible tract".

Summary of specific provisions

This bill would amend the real property tax law, to amend the definition of "Eligible tract".

Presently an "Eligible tract" is defined as "a tract of privately owned forest land of at least fifty contiguous acres, exclusive of any portion thereof not devoted to the production of forest crops.

" Lands, however, from which a merchantable forest crop has been cut or removed within three years prior to the time of application are ineligible unless such cutting or removal was accomplished under a forest management program designed to provide for the continuing production of merchantable forest crops.

This bill would reduce the amount of required contiguous acres of an eligible tract from 50 to 25, thereby permitting 25 acres of contiguous, privately owned forest land to be eligible for a tax exemption under the state real property tax law.

Justification

: This bill would reduce the amount of contiguous acres of privately held forest land necessary to qualify as an eligible tract for the purposes of a real property tax exemption.

By so reducing this amount, this bill would promote the protection and preservation of privately owned forest land in New York, promoting greenspace and preserving our state's environment and scenic beauty.

The present requirements that an eligible tract of privately held forest land must contain at least 50 acres, contained within the real property tax law, provides a disincentive for any private property owner to preserve as natural space, any amount of forest land of less than 50 contiguous acres.

With the high value of real estate, and the burdensome level of real property taxes assessed thereon, this artificially high threshold virtually guarantees that landowners will be forced to sell or develop these properties rather than maintain them in their natural state.

This bill would provide an incentive to maintain these natural lands, by reducing the heavy real property tax burden of carrying the same.

Prior legislative history

: 2008 - S2396 - Referred to the Standing Committee on Local Government

Fiscal impact

This bill would have no state fiscal impact, and any local fiscal impact should be offset by the reduction in services incumbent with the development of natural forest lands.

Effective date

: This act would take effect immediately.