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Sponsors
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History
- Referred to local government
- Referred to local government
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4680
Title of bill
An act to amend the real property tax law, in relation to exempting certain real property owned by a municipal corporation from taxation
Purpose
This bill exempts certain real property owned by a municipal corporation from taxation.
Summary of provisions
Section 1. Subdivisions 2 and 3 of section 406 of real property tax law, subdivision 2 as amended by chapter 579 of the laws of 1987 and subdivision 3 as amended by chapter 683 of the laws of 1979, are amended to remove the clause "provided the governing board thereof shall so agree in writing"
Existing law
§ 406. Municipal corporations. 1. Real property owned by a municipal corporation within its corporate limits held for a public use shall be exempt from taxation and exempt from special ad valorem levies and special assessments to the extent provided in section four hundred ninety of this chapter.
Justification
Municipalities can own real property within another municipality's boundaries. The fact that real property is owned by a municipality however does not necessarily mean the property is tax exempt. Under Real property law, section 406, in paragraph 2 and paragraph 3, it states in the last sentence of each paragraph, "provided the governing board thereof shall so agree in writing". This clause is being deleted from both paragraphs.
The reasons for removing this clause is 3 fold. The first is the 2% tax cap could create a problem for the municipality actually owning the property if the municipality where the property is located chooses not to cooperate. The second reason is it can turn into a political nightmare if the two municipalities are governed by different parties and the final reason is it just makes sense by removing any ambiguity in real property law.
Legislative history
None
Fiscal implications
None to New York State
Local fiscal implications
To be determined
Effective date
This legislation shall take effect immediately
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.