What's happening
This bill allows local governments in New York to decide whether to grant property tax exemptions for certain business investments.
Why it matters
Empowering local control. By requiring local governments and school districts to actively approve property tax exemptions for business investments, this bill gives communities more control over their tax base and economic development strategies.
Potential for tailored economic policy. Localities can choose which types of business activities (such as manufacturing, processing, or services) they want to incentivize, allowing them to target exemptions to fit local economic needs rather than being bound by a statewide mandate.
Impact on business decision-making. Businesses considering new construction or improvements may face different tax incentives depending on the locality, making local government decisions a more significant factor in where companies choose to invest.
Increased accountability and transparency. Since tax exemptions would require a public local law or resolution, the process may become more transparent and open to public input, potentially reducing blanket giveaways and encouraging community debate about economic priorities.
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Who cares
Headline styles
Let Towns Grant Tax Breaks
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Enacting clause stricken
- 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
2380
2019-2020 Regular Sessions
IN ASSEMBLY
January 22, 2019
Introduced by M. of A. GANTT -- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to allowing localities discretion in granting business investment exemptions
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 1 of section 485-b of the real property tax law, as amended by chapter 488 of the laws of 1998, is amended to read as follows:
1. Real property constructed, altered, installed or improved subsequent to the first day of July, nineteen hundred seventy-six for the purpose of commercial, business or industrial activity shall be exempt from taxation and special ad valorem levies, except for special ad valorem levies for fire district, fire protection district and fire alarm district purposes, to the extent hereinafter provided if the county, city, town or village, by local law, and a school district, except a city school district to which article fifty-two of the education law applies, by resolution, approves such exemption for one or more of the following purposes: (a) the buying or selling of goods or services; or (b) the storing or developing of goods or services; or (c) the manufacture or assembly of goods; or (d) the processing of raw materials.
§ 2. Subdivision 3 of section 485-b of the real property tax law, as amended by chapter 440 of the laws of 1993, and as further amended by subdivision (b) of section 1 of part W of chapter 56 of the laws of 2010, is amended to read as follows:
3. [Such] Upon passage of a local law or resolution, as required by subdivision one of this section, such exemption shall be granted only upon application by the owner of such real property on a form prescribed by the commissioner. Such application shall be filed with the assessor of the city, town, village, or county having the power to assess property for taxation on or before the appropriate taxable status date of such
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00965-01-9
A. 2380 2
city, town, village or county and within one year from the date of completion of such construction, alteration, installation or improvement.
§ 3. 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.