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Sponsors
Senator · Senate District 45
1 Co-sponsor
History
- Print number 820a
- Amend and recommit to local government
- Referred to local government
- Referred to local government
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Authorizes state reimbursement to municipal corporations for tax revenue lost and expenses incurred as a result of the reduced assessment of forest land
In Assembly Committee · Real Property Taxation · Sponsor Aileen Gunther
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the real property tax law, in relation to the assessment of private forest lands and to provide state assistance to municipal corporations relating thereto
Purpose
This bill will provide for full state reimbursement to local taxing jurisdictions for any tax revenue losses brought about by certain forest land exemptions.
Summary of provisions
Section 1 Provides that the chief executive officer of a municipal corporation may apply for State aid if the cumulative value of forest lands under sections 480 480-a of the real property tax law is less than its fully equalized value were section 480 and 480-a not applicable
Section 2 Amends Section 480-a of the real property tax law by adding subdivision 2
Section 3 Contains the effective date.
Existing law
Sections 480 and 480-a of the real property tax law provide for a significant reduction in the amount of taxes paid on forested lands. The law does not, however, provide for full state reimbursement to local taxing jurisdictions as a result of forest land tax exemptions.
Justification
Sections 480 and 480-a of the real property tax law grant exemptions to certain forest land which decreases the tax base of many towns and counties in southern New York State. Since the presence of forest lands benefit the state as a whole, it is only fair and equitable that any losses of real property revenues incurred by the local taxing jurisdiction, be reimbursed by the state as a whole.
Legislative history
2013/14: S. 1004A Recommit to Local Government; A. 17172 A Referred to Real Property Taxation 2011-12: S.1491 Referred to Local Government 2009/10: S.690 Referred to Local Government 2007/08: S.1056-B Local Government
Fiscal implications
To be determined
Local fiscal implications
To be determined
Effective date
This act shall take effect immediately and shall apply to taxes levied upon assessment rolls prepared on the basis of taxable status dates occurring on or after January 1, 2018
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.