What's happening
This bill allows tax exemptions for owner-occupied historic homes in New York City that provide public access after improvements.
Why it matters
Encourages preservation of privately owned historic homes. by offering a financial incentive (property tax exemption) for owners to restore or improve their landmarked residences, helping maintain the city’s architectural heritage.
Requires public benefit in exchange for tax breaks. by mandating that owners permanently allow reasonable public access to their home, making historic architecture and cultural history more available to New Yorkers and visitors.
Creates a binding, long-term commitment. since the public access agreement is recorded like a deed and applies to all future owners, ensuring that the public benefit outlasts any single owner’s tenure.
Gives local governments control. over implementation by requiring a public hearing and local law or resolution before exemptions are granted, allowing for community input and oversight.
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
Tax Breaks for Historic Homes
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to local government
- Referred to local government
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3625
2017-2018 Regular Sessions
IN SENATE
January 25, 2017
Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government
AN ACT to amend the real property tax law, in relation to a tax exemption for improvements to historic real property
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 476 to read as follows:
§ 476. Improvements to historic real property; tax exemption. 1. In cities of a million or more population, improvements to historic real property shall be exempt from taxation by any municipal corporation in which they are located to the extent that the increase in assessment is due to such improvement, provided that the governing body of such municipal corporation, after a public hearing, adopts a local law or resolution providing therefor, as provided in this section.
2. "Historic real property" shall mean real property which is:
(a) a one-, two- or three-family residence which is owner-occupied; and
(b) designated by the appropriate local agency as a historic landmark and such designation is maintained.
3. No exemption shall be granted unless the agency which is responsible to designate the real property as a historic landmark:
(a) certifies that it is in the public interest to provide that such property is to be accessible to the public; and
(b) the owner of such property and such agency enters into a permanent agreement to provide for reasonable public access to such property, which agreement shall be binding on all subsequent owners and which agreement shall be recorded in the office of the appropriate county clerk in like manner as a deed.
4. Such exemption from taxation shall be granted only upon application by the owner of such historic real property on or before the appropriate
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06604-01-7
S. 3625 2
taxable status date. Where the assessor is satisfied that the applicant is entitled to an exemption pursuant to this section, he or she shall approve such application.
§ 2. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
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
2015-16: S.1511 - Referred to Local Government 2013-14: S.3085 - Referred to Local Government 2011-12: S.3432 - Referred to local Government 2009-10: S.4621 - Referred to Local Government 2007-08: S.3397 - Referred to Local Government 2005-06: S.3477 - 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.