Bill Text: NY A02384 | 2015-2016 | General Assembly | Amended
Bill Title: Relates to a mixed use exemption program in certain villages.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2016-09-29 - signed chap.334 [A02384 Detail]
Download: New_York-2015-A02384-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 2384--A 2015-2016 Regular Sessions IN ASSEMBLY January 16, 2015 ___________ Introduced by M. of A. BARRETT -- read once and referred to the Commit- tee on Real Property Taxation -- recommitted to the Committee on Real Property Taxation in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the real property tax law, in relation to a mixed use exemption program in certain villages The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The real property tax law is amended by adding a new 2 section 485-s to read as follows: 3 § 485-s. Mixed use exemption program for villages. 1. As used in this 4 section, the following terms shall have the following meanings: 5 (a) "Applicant" means any person obligated to pay real property taxes 6 on the property for which an exemption from real property taxes under 7 this section is sought. 8 (b) "Mixed-use property" means property with a building or structure 9 used for both residential and commercial purposes. 10 (c) "Person" means an individual, corporation, limited liability 11 company, partnership, association, agency, trust, estate, foreign or 12 domestic government or subdivision thereof, or other entity. 13 2. Any village with a population greater than five thousand five 14 hundred and less than five thousand six hundred based upon the latest 15 decennial census may, by local law, provide for the exemption of real 16 property from taxation as provided in this section. Upon the adoption of 17 such a local law, the county and town in which such village is located 18 may, by local law, and any school district, all or part of which is 19 located in such village, may, by resolution, exempt such property from 20 its taxation in the same manner and to the same extent as such village 21 has done. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05141-03-6A. 2384--A 2 1 3. Upon the adoption of such a local law, newly constructed mixed-use 2 property, shall be exempt from taxation and special ad valorem levies as 3 provided for in subdivision four of this section. 4 4. (a) For a period of twenty years from the approval of an applica- 5 tion, the increase in assessed value of such property attributable to 6 such construction shall be exempt as provided in paragraph (b) of this 7 subdivision. Such exemption shall be computed with respect to the 8 "exemption base". The exemption base shall be determined for each year 9 in which there is an increase in assessed value so attributable from 10 that of the previous year's assessed value. 11 (b) The following table shall illustrate the computation of the tax 12 exemption: 13 Year of exemption Percentage of exemption 14 1-2 90% of exemption base 15 3 80% of exemption base 16 4 75% of exemption base 17 5 70% of exemption base 18 6 65% of exemption base 19 7 60% of exemption base 20 8 55% of exemption base 21 9 50% of exemption base 22 10 45% of exemption base 23 11 40% of exemption base 24 12 35% of exemption base 25 13 30% of exemption base 26 14 25% of exemption base 27 15 20% of exemption base 28 16 15% of exemption base 29 17-18 10% of exemption base 30 19-20 5% of exemption base 31 (c) No such exemption shall be granted unless such construction was 32 commenced subsequent to the date on which the village's local law took 33 effect. 34 (d) No such exemption shall be granted concurrent with or subsequent 35 to any other real property tax exemption granted to the same improve- 36 ments to real property, except, where during the period of such previous 37 exemption, payments in lieu of taxes or other payments were made to the 38 local government in an amount that would have been equal to or greater 39 than the amount of real property taxes that would have been paid on such 40 improvements had such property been granted an exemption pursuant to 41 this section. In such case, an exemption shall be granted for a number 42 of years equal to the twenty year exemption granted pursuant to this 43 section less the number of years the property would have been previously 44 exempt from real property taxes. 45 5. Such exemption shall be granted only upon application by the owner 46 of such real property on a form prescribed by the commissioner. Such 47 application shall be filed with the assessor on or before the appropri- 48 ate taxable status date. 49 6. If the assessor is satisfied that the applicant is entitled to an 50 exemption pursuant to this section, he or she shall approve the applica- 51 tion and such real property shall thereafter be exempt from taxation and 52 special ad valorem levies as provided in this section commencing with 53 the assessment roll prepared after the taxable status date referred to 54 in subdivision five of this section. The assessed value of any exemption 55 granted pursuant to this section shall be entered by the assessor on theA. 2384--A 3 1 assessment roll with the taxable property, with the amount of the 2 exemption shown in a separate column. 3 7. A local law or resolution adopted pursuant to this section may be 4 repealed by the governing body of the applicable village, county, town, 5 or school district, provided that such repeal shall occur at least nine- 6 ty days prior to the applicable taxable status date and provided further 7 that no such local law or resolution shall repeal an exemption granted 8 pursuant to this section until the expiration of the period for which 9 such exemption was granted. 10 § 2. This act shall take effect immediately.
