Bill Text: NY A09673 | 2023-2024 | General Assembly | Amended

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Bill Title: Directs the secretary of state to establish a pilot program for implementation of local land value taxation based on classes of land; directs the secretary of state to submit the application procedure for the pilot program to the temporary president of the senate and the speaker of the assembly.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-06-07 - amend by restoring to original print 9673 [A09673 Detail]

Download: New_York-2023-A09673-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         9673--C

                   IN ASSEMBLY

                                      April 3, 2024
                                       ___________

        Introduced  by M. of A. BORES -- read once and referred to the Committee
          on Real Property  Taxation  --  committee  discharged,  bill  amended,
          ordered  reprinted  as  amended  and  recommitted to said committee --
          again reported from said committee with amendments, ordered  reprinted
          as  amended  and  recommitted to said committee -- again reported from
          said committee with  amendments,  ordered  reprinted  as  amended  and
          recommitted to said committee

        AN  ACT  to  direct  the department of taxation and finance to conduct a
          study on the implementation of local land value taxation

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  The  department  of  taxation and finance shall conduct a
     2  study to determine the positive and negative impacts associated with the
     3  implementation of land value taxation as a method of real property taxa-
     4  tion. "Land value taxation" shall mean a method of assessing and  taxing
     5  real  property in a manner that (a) classifies real estate included in a
     6  municipality's assessment roll as either:  (i) land or land exclusive of
     7  buildings, or (ii) buildings on land; and (b)  establishes  a  different
     8  local  property  tax rate for each such class, provided the higher local
     9  property tax rate shall apply to land or land  exclusive  of  buildings.
    10  Such  study  shall  include,  but  not be limited to, recommendations of
    11  municipalities that could most benefit from land value taxation and  how
    12  land  value  taxation might impact housing development across the state.
    13  The department of taxation and finance shall provide a  report  on  such
    14  study  to the governor and legislature no later than one year after this
    15  act becomes law.
    16    § 2. This act shall take effect immediately.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13486-07-4