What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
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:S1511
Title of bill
An act to amend the real property tax law, in relation to a tax exemption for improvements to historic real property
Summary of bill
Section 1 : This bill will exempt from taxation improvements to historical real property as approved by the appropriate agency, in a city having a population of one million or more. Historic real property is defined as a one, two or three family residence which is owner-occupied and designated by the appropriate agency as a historic landmark and such designation is maintained. In order to claim the exemption, the agency responsible for designating the real property as a historic landmark must certify that it is in the public interest to provide public accessibility to the property. Also, the owner of the property must enter into a permanent agreement with the agency to provide for reasonable Public access to the property. Such exemption will only be granted upon application by the owner of the property no later than March fifteenth.
Justification
Several private homes have been designated as historic landmarks. A tax exemption will allow owners to make costly improvements that will help to maintain the integrity of the historical landmark. At the same time, the public will have the opportunity to visit these historical landmarks. Since the property must be designated by the proper agency and a permanent contractual agreement is needed to qualify for the exemption, the purpose of maintaining a historic landmark for the public accessibility can be assured.
Fiscal implications
Small but determinate loss of local real estate tax revenue since the exemption would apply to a very limited number of residence buildings whose owners were willing to maintain landmark status and permit public access.
Legislative history
2013-2014: Referred to Local Government 2011-12: S.3432 - Referred to local Government 2009-10: S.3397 - Referred to Local Government 2008-09: S.4621 Referred to Local Government 1989-08: Referred to Local Government
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.