Relates to technical amendments to the assessment and payment of taxes on watershed and agricultural easements

1 Co-sponsor

• James L. Seward

BILL NUMBER:S5148

Title of bill

An act to amend the real property tax law, in relation to technical amendments to the assessment and payment of taxes on watershed and agricultural easements

Purpose

To provide that watershed conservation easements purchased after 1/1/11 are taxable and to extend the ability of New York City to purchase conservation easements in the watershed.

Summary of provisions

Section 1: Amends subdivision 4 of section 583 of the real property tax law as added by chapter 2 of the laws of 1997 to change the definition of "watershed conservation easement" to remove the provision that the easement must have been purchased by December 31, 2016.

Section 2: Amends section 585 of the real property tax law as added by chapter 2 of the laws of 1997 to provide that any watershed agricultural easement acquired prior to January 1, 2011 shall be exempt from taxation, but any easement acquired subsequent to January 1, 2011 shall be subject to taxation.

Section 3: Amends subdivision 2, subparagraphs i and ii of paragraph a and paragraph b of subdivision 5 and subdivisions 6 and 7 of section 586 of the real property tax law to apply the assessment process regarding watershed conservation easements to all parcels with watershed conservation easements and watershed agricultural easements regardless of whether the easement covers the entire parcel or only a portion of the parcel.

Section 4: Amends section 589 of the real property tax law, as added by chapter 2 of the laws of 1997, and subdivisions 2 and 4 as further amended by subdivision (b) of section 1 of part W of chapter 56 of the laws of 2010 to remove requirement that the allocation factor remain in effect for at least twenty years from the date it is initially certified to the assessing unit.

Section 5: Effective date.

Justification

This legislation is being introduced with the support of the Coalition of Watershed Towns and Delaware County to authorize a continuation of the ability of New York City to purchase conservation easements conditioned upon such easements being taxable.

Legislative history

New Bill.

Fiscal implications

None.

Local fiscal implications

None anticipated.

Effective date

Immediately.