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NY A06328
Bill
Status
4/5/2023
Primary Sponsor
Fred Thiele
Click for details
AI Summary
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Allows taxation of possessory interests (leases, contracts, options) held by private lessees or contractors using federal or state-owned property, except property owned by public authorities or public concessions (airports, parks, markets, fairgrounds, roads, piers, marinas, railroads, buslines, subways).
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Requires municipal governing bodies to adopt a local law, ordinance, or resolution by public hearing before possessory interests become taxable in their jurisdiction.
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Provides a four-year phase-in period for existing possessory interests: 80% exemption year one, 60% year two, 40% year three, and 20% year four.
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Exempts possessory interests from becoming liens on the underlying federal or state property; instead, unpaid taxes become debts recoverable by the municipality through court action against the lessee or contractor.
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Excludes businesses with fewer than 25 employees from taxation under this provision; military land parcels receiving federal Impact Aid funds are fully exempt from school property taxes.
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
1/3/2024