senate Bill S8268B

Signed By Governor
2021-2022 Legislative Session

Relates to allowing certain villages to enact a tax exemption for newly developed single-family and multi-family residential properties

download bill text pdf

Sponsored By

Current Bill Status Via A5987 - Signed by Governor


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (14)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 17, 2022 signed chap.510
Aug 05, 2022 delivered to governor
Jun 02, 2022 returned to assembly
passed senate
3rd reading cal.1900
substituted for s8268b
Jun 02, 2022 substituted by a5987c
ordered to third reading cal.1900
committee discharged and committed to rules
May 11, 2022 print number 8268b
May 11, 2022 amend and recommit to local government
Mar 04, 2022 print number 8268a
Mar 04, 2022 amend and recommit to local government
Feb 08, 2022 referred to local government

S8268 - Details

See Assembly Version of this Bill:
A5987
Law Section:
Real Property Tax Law
Laws Affected:
Add §485-w, RPT L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10307
2019-2020: A384

S8268 - Summary

Allows certain villages to enact a tax exemption for newly constructed single-family and multi-family residential properties over the first five years the property is reassessed based on the difference in assessments.

S8268 - Sponsor Memo

S8268 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8268
 
                             I N  S E N A T E
 
                             February 8, 2022
                                ___________
 
 Introduced  by  Sen. MANNION -- 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  allowing
   certain  villages  to  enact  a  tax  exemption  for newly constructed
   single-family and multi-family residential properties;  and  providing
   for the repeal of such provisions upon expiration thereof

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The real property tax  law  is  amended  by  adding  a  new
 section 485-w to read as follows:
   § 485-W. NEWLY  CONSTRUCTED SINGLE-FAMILY AND MULTI-FAMILY RESIDENTIAL
 EXEMPTION; CERTAIN VILLAGES. 1. SINGLE-FAMILY AND MULTI-FAMILY  RESIDEN-
 TIAL  PROPERTIES CONSTRUCTED SUBSEQUENT TO THE EFFECTIVE DATE OF A LOCAL
 LAW ADOPTED PURSUANT TO THIS SECTION SHALL BE EXEMPT FROM VILLAGE  TAXES
 TO  THE  EXTENT  PROVIDED  IN  THIS SECTION. AFTER A PUBLIC HEARING, THE
 GOVERNING BOARD OF A VILLAGE WITH A POPULATION GREATER THAN THREE  THOU-
 SAND  SIX  HUNDRED FIFTY AND LESS THAN THREE THOUSAND SIX HUNDRED SIXTY,
 BASED UPON THE TWO THOUSAND TWENTY FEDERAL CENSUS  MAY,  BY  LOCAL  LAW,
 PROVIDE  FOR THE EXEMPTION OF REAL PROPERTY FROM TAXATION AS PROVIDED IN
 THIS SECTION. A COPY OF SUCH LOCAL LAW SHALL BE FILED WITH  THE  COMMIS-
 SIONER AND THE ASSESSOR OF SUCH MUNICIPALITY WHO PREPARES THE ASSESSMENT
 ROLL ON WHICH THE TAXES OF SUCH MUNICIPALITY ARE LEVIED.
   2.  (A)(I)  ELIGIBLE  NEWLY CONSTRUCTED SINGLE-FAMILY AND MULTI-FAMILY
 RESIDENTIAL PROPERTY SHALL BE EXEMPT ACCORDING TO THE  FOLLOWING  SCHED-
 ULE:
     CONSTRUCTION OF SINGLE-FAMILY AND MULTI-FAMILY RESIDENTIAL PROPERTY
 
                     YEAR OF EXEMPTION   EXEMPTION
                           1                25%
                           2                20%
                           3                15%
                           4                10%
                           5                 5%
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07225-03-2

S8268A - Details

See Assembly Version of this Bill:
A5987
Law Section:
Real Property Tax Law
Laws Affected:
Add §485-w, RPT L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10307
2019-2020: A384

S8268A - Summary

Allows certain villages to enact a tax exemption for newly constructed single-family and multi-family residential properties over the first five years the property is reassessed based on the difference in assessments.

S8268A - Sponsor Memo

S8268A - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8268--A
 
                             I N  S E N A T E
 
                             February 8, 2022
                                ___________
 
 Introduced  by  Sen. MANNION -- read twice and ordered printed, and when
   printed to be committed  to  the  Committee  on  Local  Government  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee
 
 AN ACT to amend the real property  tax  law,  in  relation  to  allowing
   certain  villages  to  enact  a  tax  exemption  for newly constructed
   single-family and multi-family residential properties;  and  providing
   for the repeal of such provisions upon expiration thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The real property tax  law  is  amended  by  adding  a  new
 section 485-w to read as follows:
   § 485-W. NEWLY  CONSTRUCTED SINGLE-FAMILY AND MULTI-FAMILY RESIDENTIAL
 EXEMPTION; CERTAIN VILLAGES. 1. SINGLE-FAMILY AND MULTI-FAMILY  RESIDEN-
 TIAL  PROPERTIES CONSTRUCTED SUBSEQUENT TO THE EFFECTIVE DATE OF A LOCAL
 LAW ADOPTED PURSUANT TO THIS SECTION SHALL BE EXEMPT FROM VILLAGE  TAXES
 TO  THE  EXTENT  PROVIDED  IN  THIS SECTION. AFTER A PUBLIC HEARING, THE
 GOVERNING BOARD OF A VILLAGE WITH A POPULATION GREATER THAN THREE  THOU-
 SAND  SIX  HUNDRED FIFTY AND LESS THAN THREE THOUSAND SIX HUNDRED SIXTY,
 BASED UPON THE LATEST  FEDERAL  DECENNIAL  CENSUS  MAY,  BY  LOCAL  LAW,
 PROVIDE  FOR THE EXEMPTION OF REAL PROPERTY FROM TAXATION AS PROVIDED IN
 THIS SECTION. A COPY OF SUCH LOCAL LAW SHALL BE FILED WITH  THE  COMMIS-
 SIONER AND THE ASSESSOR OF SUCH MUNICIPALITY WHO PREPARES THE ASSESSMENT
 ROLL ON WHICH THE TAXES OF SUCH MUNICIPALITY ARE LEVIED.
   2.  (A)(I)  ELIGIBLE  NEWLY CONSTRUCTED SINGLE-FAMILY AND MULTI-FAMILY
 RESIDENTIAL PROPERTY SHALL BE EXEMPT ACCORDING TO THE  FOLLOWING  SCHED-
 ULE:
     CONSTRUCTION OF SINGLE-FAMILY AND MULTI-FAMILY RESIDENTIAL PROPERTY
 
                     YEAR OF EXEMPTION   EXEMPTION
                           1                25%
                           2                20%
                           3                15%
                           4                10%
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

S8268B (ACTIVE) - Details

See Assembly Version of this Bill:
A5987
Law Section:
Real Property Tax Law
Laws Affected:
Add §485-w, RPT L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10307
2019-2020: A384

S8268B (ACTIVE) - Summary

Allows certain villages to enact a tax exemption for newly constructed single-family and multi-family residential properties over the first five years the property is reassessed based on the difference in assessments.

S8268B (ACTIVE) - Sponsor Memo

S8268B (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8268--B
 
                             I N  S E N A T E
 
                             February 8, 2022
                                ___________
 
 Introduced  by  Sen. MANNION -- read twice and ordered printed, and when
   printed to be committed  to  the  Committee  on  Local  Government  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee -- committee discharged,  bill  amended,
   ordered reprinted as amended and recommitted to said committee

 AN  ACT  to  amend  the  real  property tax law, in relation to allowing
   certain villages to  enact  a  tax  exemption  for  newly  constructed
   single-family  and  multi-family residential properties; and providing
   for the repeal of such provisions upon expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  real  property  tax  law  is amended by adding a new
 section 485-w to read as follows:
   § 485-W. NEWLY CONSTRUCTED SINGLE-FAMILY AND MULTI-FAMILY  RESIDENTIAL
 EXEMPTION;  CERTAIN VILLAGES. 1. SINGLE-FAMILY AND MULTI-FAMILY RESIDEN-
 TIAL PROPERTIES CONSTRUCTED SUBSEQUENT TO THE EFFECTIVE DATE OF A  LOCAL
 LAW  ADOPTED PURSUANT TO THIS SECTION SHALL BE EXEMPT FROM VILLAGE TAXES
 TO THE EXTENT PROVIDED IN THIS SECTION.  AFTER  A  PUBLIC  HEARING,  THE
 GOVERNING  BOARD OF A VILLAGE WITH A POPULATION GREATER THAN THREE THOU-
 SAND SIX HUNDRED FIFTY AND LESS THAN THREE THOUSAND SIX  HUNDRED  SIXTY,
 BASED  UPON  THE  LATEST  FEDERAL  DECENNIAL  CENSUS  MAY, BY LOCAL LAW,
 PROVIDE FOR THE EXEMPTION OF REAL PROPERTY FROM TAXATION AS PROVIDED  IN
 THIS  SECTION.  A COPY OF SUCH LOCAL LAW SHALL BE FILED WITH THE COMMIS-
 SIONER AND THE ASSESSOR OF SUCH MUNICIPALITY WHO PREPARES THE ASSESSMENT
 ROLL ON WHICH THE TAXES OF SUCH MUNICIPALITY ARE LEVIED.
   2. (A)(I) ELIGIBLE NEWLY CONSTRUCTED  SINGLE-FAMILY  AND  MULTI-FAMILY
 RESIDENTIAL  PROPERTY  SHALL BE EXEMPT ACCORDING TO THE FOLLOWING SCHED-
 ULE:
     CONSTRUCTION OF SINGLE-FAMILY AND MULTI-FAMILY RESIDENTIAL PROPERTY
 
                     YEAR OF EXEMPTION   EXEMPTION
                           1                25%
                           2                20%
                           3                15%
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.