What's happening
This bill removes population restrictions on which municipalities can participate in the residential-commercial property tax exemption program.
Why it matters
Expands eligibility for property tax exemptions. By removing population restrictions, the bill allows all towns, cities, and villages in New York State—not just those in specific population ranges—to participate in the residential-commercial property tax exemption program. This broadens access to tax relief tools.
Potential to stimulate local economic development. The exemption program is designed to encourage the conversion or construction of mixed-use properties (residential and commercial), which can revitalize downtowns, increase local investment, and attract new residents and businesses in communities that were previously excluded.
Promotes fairness and flexibility. Eliminating arbitrary population limits creates a more equitable system, giving smaller and larger municipalities alike the opportunity to use this incentive as part of their local economic and housing strategies.
May impact municipal tax revenues and budgets. With more areas eligible, local governments will need to weigh the potential short-term loss in property tax revenue against the long-term benefits of increased development and a broader tax base.
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
Expand Tax Exemption Access
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
History
- Held for consideration in real property taxation
- Referred to real property taxation
- Referred to real property taxation
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5424
2017-2018 Regular Sessions
IN ASSEMBLY
February 8, 2017
Introduced by M. of A. DiPIETRO, GRAF -- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the residential-commercial exemption program
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph (g) of subdivision 1 of section 485-n of the real property tax law, as amended by chapter 394 of the laws of 2012, is amended to read as follows:
(g) "Municipality" means any town, city, village or other taxing entity [located in a county having a population of not less than sixty-five thousand three hundred ninety and not more than sixty-five thousand four hundred as determined by the federal decennial census for the year two thousand ten or in a county having a population of not less than ninety-eight thousand nine hundred and not more than ninety-nine thousand as determined by the federal decennial census for the year two thousand ten].
§ 2. This act shall take effect immediately, provided that the amendments to subdivision 1 of section 485-n of the real property tax law made by section one of this act shall not affect the repeal of such section and shall be deemed repealed therewith.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05873-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.