senate Bill S7424

Signed By Governor
2011-2012 Legislative Session

Establishes a residential-commercial exemption program in certain counties

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Archive: Last Bill Status Via A10107 - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 17, 2012 signed chap.394
Aug 06, 2012 delivered to governor
Jun 20, 2012 returned to assembly
passed senate
3rd reading cal.1442
substituted for s7424
Jun 20, 2012 substituted by a10107
ordered to third reading cal.1442
committee discharged and committed to rules
May 14, 2012 referred to local government

Votes

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S7424 - Bill Details

See Assembly Version of this Bill:
A10107
Law Section:
Real Property Tax Law
Laws Affected:
Amd §485-n, RPT L; amd §2, Chap 545 of 2011

S7424 - Bill Texts

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Establishes a residential-commercial exemption program in certain counties.

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BILL NUMBER:S7424

TITLE OF BILL:

An act
to amend the real property tax law, in relation to establishing a
residential-commercial exemption program in certain counties; and
to amend chapter 545 of the laws of 2011, amending the real property
tax law, relating to establishing a residential-commercial exemption
program in certain counties, in relation to the effectiveness thereof

PURPOSE:

This bill establishes a residential-commercial exemption program in
Steuben County, New York.

SUMMARY OF PROVISIONS:

Section 1. The real property tax law is amended by adding Steuben
County as a county to which the 485-n abatement program shall apply.
Section 485-n allows any municipality within such county to opt in,
through adoption of a local law, to a real property tax abatement
program. This abatement program would now be offered in Steuben
County as well as Livingston County.

Section 2. Establishes the effective date.

Section 3. Establishes the repeal date.

JUSTIFICATION:

The County of Steuben has requested to have legislation enacted that
will benefit the County of Steuben and all Towns, Villages and School
Districts within the county, by allowing them to grant real property
tax abatement in defined redevelopment areas.

This initiative was created in Chapter 545 of the Laws of 2011
(A.4643A/Burling) which establishes a real property tax abatement
scheme for Livingston County. Section 485-n allows any municipality
within such county to opt in, through adoption of a local law, to a
real property tax abatement program. This abatement program would now
be offered in Steuben County as well as Livingston County.

The properties would be exempt from increase in real property taxes
and special ad valorem levies for twelve years.

The tax exemption on the change to assessed value of buildings that
have commercial or residential construction work done shall be
computed with respect to the exemption base and according to the
following schedule:

YEAR OF EXEMPTION PERCENTAGE OF EXEMPTION

1 through 8 100% of exemption base
9 80% of exemption base
10 60% of exemption base
11 40% of exemption base
12 20% of exemption base

The original legislation arose from of a meeting of all local taxing
entities in Livingston the county in 2009. They all agreed to support
legislation that authorized the adoption of this tax abatement program
by each taxing body at local option in recognizance of the need to
effect real investment in revitalization.

The municipalities in Steuben County recognize the need for targeted
revitalization and would like to partake in a similar abatement program.
Cities such as Corning and Hornell are sure to benefit from partic-
ipation in this program, much the way localities in Livingston County
have.

Tax abatements are a proven technique for local governments to attract
investors for revitalization. A tax abatement, which this bill does, is
different than a strict tax exemption. A tax exemption takes away exist-
ing revenue generated by a property, while a tax abatement does not
change existing tax payments. With tax abatements, governments agree to
take less than 100% of new revenue generated through property invest-
ment, repair and renovation.

This legislation will provide a tool for local governments to use to
improve their communities. The proposed tax abatement program will not
impose a cost upon the state, and therefore should be considered by the
Legislature as a no-cost, mandate-free way to allow local governments in
Steuben County to invest in and attract outside investment to their
communities.

LEGISLATIVE HISTORY:
New Bill.

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Effective immediately, and shall expire and be deemed repealed twelve
years after such date.

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                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7424

                            I N  S E N A T E

                              May 14, 2012
                               ___________

Introduced  by  Sen.  O'MARA -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the real property tax law, in relation to establishing a
  residential-commercial exemption program in certain counties;  and  to
  amend  chapter 545 of the laws of 2011, amending the real property tax
  law,  relating  to  establishing  a  residential-commercial  exemption
  program in certain counties, in relation to the effectiveness thereof

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Paragraph (g) of subdivision 1 of  section  485-n  of  the
real  property  tax law, as added by chapter 545 of the laws of 2011, is
amended to read as follows:
  (g) "Municipality" means any town, city, village or other taxing enti-
ty located in a county having a population of not less  than  sixty-five
thousand three hundred ninety and not more than sixty-five thousand four
hundred  as  determined by the federal decennial census for the year two
thousand ten OR IN A COUNTY HAVING A POPULATION OF NOT LESS  THAN  NINE-
TY-EIGHT THOUSAND NINE HUNDRED AND NOT MORE THAN NINETY-NINE THOUSAND AS
DETERMINED  BY  THE  FEDERAL  DECENNIAL CENSUS FOR THE YEAR TWO THOUSAND
TEN.
  S 2. Section 2 of chapter 545 of the laws of 2011, amending  the  real
property  tax  law,  relating  to  establishing a residential-commercial
exemption program in certain counties, is amended to read as follows:
  S 2. This act shall take effect immediately, and shall expire  and  be
deemed repealed [twelve] THIRTEEN years after such date.
  S  3. This act shall take effect immediately, provided that the amend-
ments to paragraph (g) of subdivision 1 of section  485-n  of  the  real
property  tax  law  made by section one of this act shall not affect the
repeal of such section and shall be deemed repealed therewith.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02688-09-2

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