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NY A07096
Bill
Status
4/22/2021
Primary Sponsor
Patricia Fahy
Click for details
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 subject to conservation easement agreements
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Exemption percentages range from 50% (15-29 year commitment) to 90% (perpetual commitment), with 75% for 30-49 years and 85% for 50-75 years
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Requires property owners to submit proposals to town boards, with conservation boards investigating and recommending whether to hold public hearings; town boards make final decisions after public notice to adjacent owners and affected municipalities
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Conservation easement agreements cannot be canceled except by town board petition for good cause, with penalties of five times the last year's tax savings plus 6% annual compound interest (capped at 5 years) if terms are violated or agreement is canceled
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Counties and school districts in qualifying towns may also exempt such properties by local law or resolution in the same manner as the town, and the act takes effect immediately
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
substituted by s6469
5/25/2021