Bill Text: NY A08040 | 2009-2010 | General Assembly | Introduced

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Bill Title: Relates to implementing a sales tax factor when calculating the amount of exemption for school tax purposes.

Sponsorship: Partisan Bill (Democrat 7)

Status: (Introduced - Dead) 2010-01-06 - referred to real property taxation [A08040 Detail]

Download: New_York-2009-A08040-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         8040
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                      May 1, 2009
                                      ___________
       Introduced  by  M. of A. SCHIMMINGER, SCHROEDER, GABRYSZAK, KOON, GALEF,
         PAULIN, BRADLEY -- read once and referred to  the  Committee  on  Real
         Property Taxation
       AN  ACT  to  amend the real property tax law, in relation to a sales tax
         factor applicable to STAR exemptions
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Paragraph (a) of subdivision 2 of section 425 of the real
    2  property tax law, as amended by section 1 of part E of chapter 83 of the
    3  laws of 2002, is amended to read as follows:
    4    (a) Overview. There shall be two variations of the  exemption  author-
    5  ized  by  this  section:  an exemption for property owned by persons who
    6  satisfy the criteria set forth in subdivision  three  of  this  section,
    7  which shall be known as the "basic" STAR exemption, and an exemption for
    8  property  owned by senior citizens who satisfy the criteria set forth in
    9  both subdivisions three and four of this section, which shall  be  known
   10  as  the  "enhanced" STAR exemption. The exempt amount for each assessing
   11  unit shall be determined annually as set forth in this  subdivision,  by
   12  multiplying  the  "base  figure"  by the locally-applicable "sales price
   13  differential factor," if any, multiplying the product by the appropriate
   14  "equalization factor" for the assessing unit, ADDING ON  THE  APPLICABLE
   15  SALES  TAX  FACTOR,  IF ANY, and, if necessary, increasing the result to
   16  equal the applicable "floor." The result is then rounded to the  nearest
   17  multiple of ten dollars.
   18    S  2.  Subdivision  2  of  section 425 of the real property tax law is
   19  amended by adding a new paragraph (d-1) to read as follows:
   20    (D-1) SALES TAX  ADJUSTMENT.  FOR  ANY  COUNTY  IN  WHICH  THE  SCHOOL
   21  DISTRICT  RECEIVES  A  PORTION  OF  THE REVENUE GENERATED FROM SALES TAX
   22  WITHIN THE COUNTY, A "SALES TAX FACTOR" SHALL BE  ADDED  TO  THE  AMOUNT
   23  DETERMINED  IN  PARAGRAPH  (D) OF THIS SUBDIVISION. THE APPLICABLE SALES
   24  TAX FACTOR FOR EACH COUNTY SHALL BE DETERMINED BY TAKING THE TOTAL SALES
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10145-01-9
       A. 8040                             2
    1  TAX REVENUE THE SCHOOL DISTRICT RECEIVES FROM THE COUNTY AND DIVIDING IT
    2  BY THE  TOTAL  NUMBER  OF  ASSESSED  UNITS  LOCATED  WITHIN  THE  SCHOOL
    3  DISTRICT.   THAT QUOTIENT IS THEN DIVIDED BY THE LATEST TAX RATE APPLIED
    4  TO AN ASSESSED PARCEL WITHIN THE DISTRICT.
    5    S  3.  This act shall take effect on the first of July next succeeding
    6  the date on which it shall have become a law.