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Sponsors
No co-sponsors yet.
History
- Referred to local government
- Referred to local government
Full text
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Sponsor's memo
BILL NUMBER:S194
Title of bill
An act to amend the real property tax law, in relation to the assessed valuation of certain real property used for residential real property in the county of Orleans
Purpose
To exempt Orleans county from a law requiring that the assessed value of residential real property used for rental purposes take into account the impact of any rent restrictions, affordability requirements or any other restrictions prescribed by federal, state or municipal programs.
Summary of provisions
Section 1 of the bill exempts Orleans county from the law requiring that the assessed value of residential real property used for rental purposes take into account the impact of any rent restrictions, affordability requirements or any other restrictions prescribed by federal, state or municipal programs. Section 2 is the effective date.
Justification
While the existing law is extremely well intentioned in providing affordable housing in higher income and larger populated areas, the offshoot occurs when a project occurs in a much smaller County, such as Orleans. In this instance the current exemption would severely effect the Town the project takes part in, the local school district, and the County itself. This legislation merely exempts Orleans county from this law, much the same way New York City was exempted in the original bill.
Legislative history
S.2031 2007/2008; Referred to Local Government S.1419 of 2009/2010; Referred to Local Government
Fiscal implications
None.
Effective date
Immediately and shall apply to taxable status dates occurring on or after January first next succeeding the date this act shall have become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.