What's happening
This bill allows municipal corporations with privately owned forest lands to apply for state assistance to offset reduced property tax assessments.
Why it matters
Helps protect municipal budgets. By offering state assistance to municipalities with privately owned forest lands that receive reduced property tax assessments, this bill aims to prevent local governments from losing crucial revenue due to tax breaks for forest land conservation.
Encourages forest land conservation. The mechanism supports existing state policies that incentivize the preservation of private forest land, making it more financially feasible for municipalities to accommodate these tax incentives without sacrificing public services or infrastructure.
Promotes fair state-local cost sharing. The bill requires the state to help cover the gap between what forest lands would be worth at market value and what they are actually taxed at under special assessments, which could help ensure that the benefits of forest land conservation are not borne solely by local taxpayers.
Creates a standardized application and assessment process. By centralizing the valuation and equalization of forest lands and establishing a clear application procedure, the bill may foster consistency and transparency in how state assistance is determined and distributed across different municipalities.
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Who cares
Municipal corporations with qualifying private forest lands
Their chief executives could apply for state assistance to offset tax revenue lost through reduced forest-land assessments under sections 480 and 480-a.
State tax officials
The commissioner would prescribe application requirements, value and equalize qualifying forest lands, and calculate assistance using the valuation difference and applicable municipal tax rate.
State comptroller and Legislature
Assistance payments would require the comptroller’s audit and warrant and would come from money appropriated by the Legislature.
Headline styles
Reimburse Towns for Lost Forest Taxes
Plain English, a few words. Used as the page title.
Sponsors
1 Multi-sponsor
History
- Referred to real property taxation
- Referred to real property taxation
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2088
2019-2020 Regular Sessions
IN ASSEMBLY
January 22, 2019
Introduced by M. of A. GUNTHER -- Multi-Sponsored by -- M. of A. STEC -read once and referred to the Committee on Real Property Taxation
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
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 480 of the real property tax law is amended by adding a new subdivision 10 to read as follows:
10. (a) The chief executive officer of a municipal corporation in which there are privately owned forest lands which are assessed in accordance with the provisions of subdivision three of this section may make application for state assistance as provided in this subdivision.
(b) Application for state assistance pursuant to this subdivision shall be made on a form prescribed by the commissioner and shall contain such information and documentation as may be required by the commissioner and the commissioner may promulgate rules and regulations necessary to the implementation of this subdivision.
(c) Upon receipt of the application for state assistance, such private forest lands shall be valued by the commissioner and the cumulative value of all such lands shall be equalized by applying thereto the appropriate state equalization rate or special equalization rate established in accordance with the rules of the commissioner.
(d) If the cumulative value determined and equalized pursuant to paragraph (c) of this subdivision exceeds the taxable assessed valuation of such property on the preceding assessment roll, as required by subdivision three of this section the commissioner shall compute the amount of state assistance payable to or for the benefit of each municipal corporation by applying to the amount of the excess the appropriate tax rate of the municipal corporation and such amount shall be paid on audit and
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00906-01-9
A. 2088 2
warrant of the comptroller out of moneys appropriated by the legislature.
§ 2. Section 480-a of the real property tax law is amended by adding a new subdivision 11 to read as follows:
11. (a) The chief executive officer of a municipal corporation in which there are privately owned forest lands which are assessed in accordance with the provisions of this section may make application for state assistance as provided in this subdivision.
(b) Application for state assistance pursuant to this subdivision shall be made on a form prescribed by the commissioner and shall contain such information and documentation as may be required by the commissioner and the commissioner may promulgate rules and regulations necessary to the implementation of this subdivision.
(c) Upon receipt of the application for state assistance, such private forest lands shall be valued by the commissioner and the cumulative value of all such lands shall be equalized by applying thereto the appropriate state equalization rate or special equalization rate established in accordance with the rules of the commissioner.
(d) If the cumulative value determined and equalized pursuant to paragraph (c) of this subdivision exceeds the taxable assessed valuation of such property on the preceding assessment roll, as required by this section the commissioner shall compute the amount of state assistance payable to or for the benefit of each municipal corporation by applying to the amount of the excess the appropriate tax rate of the municipal corporation and such amount shall be paid on audit and warrant of the comptroller out of moneys appropriated by the legislature.
§ 3. 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, 2021.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
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