Bill Text: NY S05218 | 2023-2024 | General Assembly | Introduced

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Bill Title: Encourages the preservation and viewing of historic properties by allowing an exemption from local real estate tax in cities of a million or more population, for improvements to historic real property and by requiring certain public access to such property; defines the term "historic real property" as a one, two or three family residence which is owner-occupied and designated by the appropriate agency as a historic landmark and such designation is maintained.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - REFERRED TO LOCAL GOVERNMENT [S05218 Detail]

Download: New_York-2023-S05218-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5218

                               2023-2024 Regular Sessions

                    IN SENATE

                                    February 27, 2023
                                       ___________

        Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government

        AN ACT to amend the  real  property  tax  law,  in  relation  to  a  tax
          exemption for improvements to historic real property

          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 476 to read as follows:
     3    §  476.  Improvements to historic real property; tax exemption. 1.  In
     4  cities of a million or more population, improvements  to  historic  real
     5  property  shall  be exempt from taxation by any municipal corporation in
     6  which they are located to the extent that the increase in assessment  is
     7  due to such improvement, provided that the governing body of such munic-
     8  ipal  corporation,  after a public hearing, adopts a local law or resol-
     9  ution providing therefor, as provided in this section.
    10    2. "Historic real property" shall mean real property which is:
    11    (a) a one-, two- or three-family residence  which  is  owner-occupied;
    12  and
    13    (b)  designated by the appropriate local agency as a historic landmark
    14  and such designation is maintained.
    15    3. No exemption shall be granted unless the agency which is  responsi-
    16  ble to designate the real property as a historic landmark:
    17    (a)  certifies  that it is in the public interest to provide that such
    18  property is to be accessible to the public; and
    19    (b) the owner of such property and such agency enters into a permanent
    20  agreement to provide for reasonable  public  access  to  such  property,
    21  which  agreement  shall  be  binding  on all subsequent owners and which
    22  agreement shall be recorded in the  office  of  the  appropriate  county
    23  clerk in like manner as a deed.
    24    4. Such exemption from taxation shall be granted only upon application
    25  by the owner of such historic real property on or before the appropriate

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07586-01-3
        S. 5218                             2

     1  taxable  status date. Where the assessor is satisfied that the applicant
     2  is entitled to an exemption pursuant to this section, he  or  she  shall
     3  approve such application.
     4    § 2.  This act shall take effect immediately.