Bill Text: NY S07702 | 2015-2016 | General Assembly | Introduced
Bill Title: Relates to a mixed use exemption program in certain villages.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2016-06-09 - SUBSTITUTED BY A2384A [S07702 Detail]
Download: New_York-2015-S07702-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 7702 IN SENATE May 12, 2016 ___________ Introduced by Sen. SERINO -- 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 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. 22 3. Upon the adoption of such a local law, newly constructed mixed-use 23 property, shall be exempt from taxation and special ad valorem levies as 24 provided for in subdivision four of this section. 25 4. (a) For a period of twenty years from the approval of an applica- 26 tion, the increase in assessed value of such property attributable to 27 such construction shall be exempt as provided in paragraph (b) of this 28 subdivision. Such exemption shall be computed with respect to the 29 "exemption base". The exemption base shall be determined for each year 30 in which there is an increase in assessed value so attributable from 31 that of the previous year's assessed value. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05141-04-6S. 7702 2 1 (b) The following table shall illustrate the computation of the tax 2 exemption: 3 Year of exemption Percentage of exemption 4 1-2 90% of exemption base 5 3 80% of exemption base 6 4 75% of exemption base 7 5 70% of exemption base 8 6 65% of exemption base 9 7 60% of exemption base 10 8 55% of exemption base 11 9 50% of exemption base 12 10 45% of exemption base 13 11 40% of exemption base 14 12 35% of exemption base 15 13 30% of exemption base 16 14 25% of exemption base 17 15 20% of exemption base 18 16 15% of exemption base 19 17-18 10% of exemption base 20 19-20 5% of exemption base 21 (c) No such exemption shall be granted unless such construction was 22 commenced subsequent to the date on which the village's local law took 23 effect. 24 (d) No such exemption shall be granted concurrent with or subsequent 25 to any other real property tax exemption granted to the same improve- 26 ments to real property, except, where during the period of such previous 27 exemption, payments in lieu of taxes or other payments were made to the 28 local government in an amount that would have been equal to or greater 29 than the amount of real property taxes that would have been paid on such 30 improvements had such property been granted an exemption pursuant to 31 this section. In such case, an exemption shall be granted for a number 32 of years equal to the twenty year exemption granted pursuant to this 33 section less the number of years the property would have been previously 34 exempt from real property taxes. 35 5. Such exemption shall be granted only upon application by the owner 36 of such real property on a form prescribed by the commissioner. Such 37 application shall be filed with the assessor on or before the appropri- 38 ate taxable status date. 39 6. If the assessor is satisfied that the applicant is entitled to an 40 exemption pursuant to this section, he or she shall approve the applica- 41 tion and such real property shall thereafter be exempt from taxation and 42 special ad valorem levies as provided in this section commencing with 43 the assessment roll prepared after the taxable status date referred to 44 in subdivision five of this section. The assessed value of any exemption 45 granted pursuant to this section shall be entered by the assessor on the 46 assessment roll with the taxable property, with the amount of the 47 exemption shown in a separate column. 48 7. A local law or resolution adopted pursuant to this section may be 49 repealed by the governing body of the applicable village, county, town, 50 or school district, provided that such repeal shall occur at least nine- 51 ty days prior to the applicable taxable status date and provided further 52 that no such local law or resolution shall repeal an exemption granted 53 pursuant to this section until the expiration of the period for which 54 such exemption was granted. 55 § 2. This act shall take effect immediately.
