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NY S06338
Bill
Status
3/11/2025
Primary Sponsor
William Weber
Click for details
AI Summary
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Authorizes the Town of Orangetown in Rockland County to establish a community preservation fund through local law, funded by a real estate transfer tax of up to 0.75% on property conveyances
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Fund revenues must be used exclusively for preserving open spaces, farmland, wetlands, historic properties, parks, wildlife habitats, and other community character purposes, with farmland preservation designated as the highest priority
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Requires creation of a 5-7 member advisory board with demonstrated conservation experience (including at least one active farmer) to review and recommend property acquisitions
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Exempts certain transactions from the transfer tax, including government conveyances, gifts, properties with development restrictions, conveyances to conservation nonprofits, and provides exemptions of $100,000 for improved property and $50,000 for unimproved property
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The real estate transfer tax provisions expire on December 31, 2045, and any local law imposing the tax must be approved by mandatory public referendum
Legislative Description
Authorizes the town of Orangetown to establish community preservation funds; establishes a real estate transfer tax with revenues therefrom to be deposited in said community preservation fund; provides for the repeal of such provisions upon the expiration thereof.
Last Action
SUBSTITUTED BY A6097
6/13/2025