What's happening
This bill delays reductions in school district payments from businesses making payments in lieu of taxes after assessment challenges until the next taxable year.
Why it matters
Provides stability for school district budgets. by ensuring that any reduction in payments from businesses (due to successful property assessment challenges) does not affect the current year’s funding, giving districts more time to adjust to revenue changes.
Mitigates immediate financial shortfalls. for schools that rely on PILOT (Payments In Lieu Of Taxes) agreements by delaying decreases, which can be especially important for districts with tight or inflexible budgets.
Creates a more predictable fiscal environment. for both local governments and school districts, as they will have advance notice of any impending changes to PILOT income tied to assessment outcomes.
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Who cares
School districts
For payment-in-lieu-of-taxes agreements entered into on or after the bill’s effective date, reductions in payments to districts resulting from assessment grievances would be delayed until the following taxable status year.
Businesses making payments in lieu of taxes
Businesses covered by those agreements would have to wait until the following taxable status year for assessment-grievance reductions in their payments to school districts to take effect.
Local assessors and assessment grievance boards
The bill would set a delayed effective date for school district payment reductions resulting from challenges to assessments of properties covered by those agreements.
Headline styles
Delay Tax Cut For Businesses
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
History
- Referred to rules
- Delivered to senate
- Passed assembly
- Advanced to third reading cal.913
- Reported
- Referred to ways and means
- Reported referred to ways and means
- Print number 7211a
- Amend and recommit to real property taxation
- Referred to real property taxation
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.
Delay Tax Cut for Businesses
In Senate Committee · Rules · Sponsor Carl L. Marcellino
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7211--A
2017-2018 Regular Sessions
IN ASSEMBLY
April 12, 2017
Introduced by M. of A. PAULIN -- read once and referred to the Committee on Real Property Taxation -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee
AN ACT to amend the real property tax law, in relation to changes in assessment for businesses that make payments in lieu of taxes
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The real property tax law is amended by adding a new section 561 to read as follows:
§ 561. Payments in lieu of taxes; change of assessment; effective date. Notwithstanding any other provision of law, for any payment in lieu of taxes agreement entered into on or after the effective date of this section, when the assessment of a property making payments in lieu of taxes is challenged through the grievance process, any reduction in payments in lieu of taxes made to a school district resulting from such challenge shall not take effect until the following taxable status year.
§ 2. This act shall take effect on the sixtieth day after it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05987-03-7
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.