What's happening
This bill updates requirements for property tax exemptions on historic property alterations, allowing more local control and adjusting approval standards.
Why it matters
Shifts more decision-making power to local governments. by letting counties, cities, towns, villages, and school districts set their own rules on the amount and types of historic property alterations that qualify for property tax exemptions.
Simplifies and clarifies approval standards. by removing some old requirements and focusing on local preservation commission approval only for work within their jurisdiction, potentially speeding up the process for property owners.
Expands eligibility and flexibility. by allowing exemptions for certain alterations or rehabilitations even if they're outside of a local preservation commission's oversight, as long as commission approval is obtained where required—this could encourage more investment in historic properties.
May affect local tax revenues and preservation practices. because localities can now reduce exemption percentages or limit eligibility, allowing them to better balance historic preservation incentives with budgetary needs.
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Who cares
Headline styles
Update Historic Tax Exemptions
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to real property taxation
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
10037
IN ASSEMBLY
March 4, 2020
Introduced by M. of A. FAHY -- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to exemptions granted for alterations or rehabilitation
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph (b) of subdivision 2 of section 444-a of the real property tax law, as added by chapter 183 of the laws of 1997, is amended to read as follows:
(b) No such exemption shall be granted for such alterations or rehabilitation unless:
(i) Such property has been designated as a landmark, or is a property that contributes to the character of an historic district, created by a local law passed pursuant to section ninety-six-a or one hundred nineteen-dd of the general municipal law;
(ii) [Alterations or rehabilitation must be made for means of historic preservation;
(iii) Such alterations or rehabilitation of historic property meet guidelines and review standards in the local preservation law;
(iv) Such alterations or rehabilitation of historic property are approved by the local preservation commission prior to commencement of work;
(v)] Alterations or rehabilitation are commenced subsequent to the effective date of the local law or resolution adopted pursuant to this section[.];
(iii) Any alterations or rehabilitation of historic property under the jurisdiction of the local preservation commission as part of this project are approved by that commission prior to the commencement of work; and
(iv) A county, city, town or village by local law or school district by resolution may:
A. reduce the percentage exempt from taxation;
B. limit eligibility for exemption to certain alterations or rehabilitations; or
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14798-02-0
A. 10037 2
C. allow for the exemption to apply to rehabilitations and alterations which are outside of the jurisdiction of the local preservation commission so long as any alterations or rehabilitations subject to a commission's jurisdiction is approved by such commission.
§ 2. This act shall take effect immediately.
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.