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NY S08548
Bill
Status
10/24/2025
Primary Sponsor
Alexis Weik
Click for details
AI Summary
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Requires nonprofit organizations in New York that would typically be exempt from property taxes to pay 75% of their annual property taxes to the municipality where they are located
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The payment requirement is intended to offset the impact of property tax exemptions on municipal revenues
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Exempts nonprofit organizations that already have a Payment in Lieu of Taxes (PILOT) agreement or other financial arrangement with their municipality designed to offset the tax exemption
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Takes effect on January 1 following enactment, applying to assessment rolls prepared based on taxable status dates occurring on or after that date
Legislative Description
Relates to the payment of property taxes to municipalities by any nonprofit organization; requires nonprofit organizations that would typically be exempt from property taxes based on nonprofit status to pay 75 percent of its annual property taxes to the municipality in which it sits in order to offset the impact of the exemption.
Last Action
REFERRED TO LOCAL GOVERNMENT
1/7/2026