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NY S05481
Bill
Status
6/5/2017
Primary Sponsor
Terrence Murphy
Click for details
AI Summary
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Department of Taxation and Finance must conduct a study of state-owned lands in Westchester, Putnam, and Dutchess counties, including parklands, forest preserves, correctional facilities, and other tax-exempt state property.
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Study shall examine current compensation methods to counties, cities, towns, villages, and school districts through existing real property tax law sections 532, 533, 534, 536, and environmental conservation law section 15-2115.
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Study must calculate the fiscal impact to the state and local governments if state-owned lands currently tax-exempt were required to generate property tax compensation.
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Commissioner of Taxation and Finance must submit report with findings, conclusions, and recommendations to the Governor, legislative leaders, and relevant committee chairs by December 1, 2018.
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Bill addresses revenue loss concerns from the planned 2020-2021 closure of Indian Point nuclear plant in the region and the tax burden on homeowners from untaxed state-owned lands.
Legislative Description
Directs the department of taxation and finance to study and report on the impact on localities in the counties of Westchester, Putnam and Dutchess of state-owned lands, and the methods of compensating such localities for the real property taxes lost as a result of such state-owned lands.
Last Action
SUBSTITUTED BY A7402A
6/20/2018