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NY A05930
Bill
Status
3/2/2021
Primary Sponsor
Sandra Galef
Click for details
AI Summary
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Beginning January 1, 2022, state-owned land (exclusive of improvements) becomes subject to taxation at a phased percentage rate: 10% in 2022, 15% in 2023, 20% in 2024, 25% in 2025, and 30% from 2026 onward, calculated as percentages of taxes owed if the land were privately owned.
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Tax payments under this provision do not reduce any real property tax payments owed to municipalities under other laws.
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When a payment in lieu of taxes (PILOT) agreement exists on state land, the state must pay whichever amount is greater: the PILOT agreement amount or the amount calculated under this new tax provision.
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Amends section 532 of the real property tax law to establish this new taxation framework while maintaining existing exemptions for state buildings, structures, and improvements on the taxable land.
Legislative Description
Provides for the taxation of state owned land for all purposes, exclusive of improvements and in accordance with any payment in lieu of taxes agreement commencing on and after January first, two thousand twenty-two.
Last Action
referred to ways and means
1/5/2022