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NY A06849
Bill
Status
4/12/2021
Primary Sponsor
Fred Thiele
Click for details
AI Summary
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Adds a new category of taxable property: possessory interests held by private lessees or contractors using federal or state-owned real property, excluding property owned by public authorities.
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Excludes from taxation concessions available to the general public located in or adjacent to public airports, parks, markets, fairgrounds, roads, piers, marinas, railroads, bus lines, subways, or similar publicly-available property.
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Requires municipalities to adopt a local law, ordinance, or resolution after public hearing to tax possessory interests within their jurisdiction, with rules applying uniformly to all such interests.
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Provides a four-year partial tax exemption phase-in for existing possessory interests: 80% exempt in year one, 60% in year two, 40% in year three, and 20% in year four, with exemption ending if the lease is renegotiated or renewed.
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Makes possessory interest taxes a personal debt of the lessee or contractor (not a lien on federal or state property) recoverable through court action; fully exempts possessory interests on military land from school property taxes if the school district receives federal Impact Aid funds.
Legislative Description
Subjects to taxation the possessory interest of a private individual or corporation which uses real property owned by the United States or the state, except for real property owned by public authorities, for business purposes; excludes private property where the use is for a concession available to the general public located on property, such as parks, available for the use of the general public.
Last Action
referred to real property taxation
1/5/2022