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NY S07655
Bill
Status
7/22/2020
Primary Sponsor
George Amedore
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AI Summary
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Authorizes towns with populations between 35,000-36,000 located in counties with populations between 300,000-307,000 (based on 2010 census) to adopt local laws allowing partial real property tax exemptions for properties under conservation easement agreements.
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Defines "open space" or "open area" as land with natural scenic beauty or openness that enhances surrounding development or maintains conservation of natural resources, including agricultural lands in bona fide production.
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Establishes a procedure requiring property owners to submit proposals to the town board, with the conservation board investigating and recommending proposals for public hearing before town board adoption.
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Creates a tiered exemption structure based on easement duration: 50% exemption (15-29 years), 75% exemption (30-49 years), 85% exemption (50-75 years), and 90% exemption (perpetual).
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Imposes penalties for violations or cancellations requiring property owners to repay five times the last year's tax savings plus 6% annual compound interest for up to five years.
Legislative Description
Authorizes certain towns to adopt a local law to provide that, real property whose interests or rights have been acquired for the purpose of the preservation of an open space or an open area may be partially exempt from local real property taxation, provided that the owner or owners of such real property enter into a conservation easement agreement with the municipality.
Last Action
referred to real property taxation
7/22/2020