S T A T E O F N E W Y O R K
________________________________________________________________________
1131--A
2025-2026 Regular Sessions
I N S E N A T E
January 8, 2025
___________
Introduced by Sen. MAY -- 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 direct the department of taxation and finance to establish a pilot
program for implementation of local land value taxation
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. 1. The department of taxation and finance shall establish a
pilot program in up to five municipalities under which such munici-
palities shall develop a plan for implementation of land value taxation
that (a) classifies real estate included in such municipality's assess-
ment roll as (i) land or land exclusive of buildings, or (ii) buildings
on land; and (b) establishes a different local property tax rate for
each such class, provided the higher local property tax rate shall apply
to land or land exclusive of buildings.
2. The department of taxation and finance shall establish an applica-
tion procedure and any other criteria for the pilot program established
under subdivision one of this section, under which municipalities may
apply to participate in such pilot program. If a municipality having a
population greater than 50,000 applies for participation in such pilot
program, such municipality may designate a specific neighborhood or area
within such municipality that would participate in such program, if
selected. The department of taxation and finance shall send a notice of
selection for such pilot program to the chief executive officer of the
municipality and to the temporary president of the senate and the speak-
er of the assembly.
3. In order to apply to participate in the pilot program established
under subdivision one of this section, the legislative body of the
applicable municipality shall pass a local law, and a school district
shall pass a resolution, affirmatively authorizing the application
established under subdivision two of this section.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03468-02-5
This is an incredible idea! All of us work together to increase the value of land in New York, so we should all be seeing the benefits of it! This would help to reduce urban sprawl, lower housing costs, boost government revenues, and ultimately make a more fair society! No one should be profiting off of hoarding valuable land. Love this policy!
Is there a way to ensure that forested land or habitat that may be in the private domain isn’t bulldozed to create buildings that sit vacant?
I like the idea of this bill and support it in theory, but would want any environmental ramifications addressed.
What this does is split the tax bill into two components: the value of the land and the value of the buildings. Adding an empty building on forested private land would just increase the total taxation, without generating any revenue - it would cost money to build and then increase taxes, without profit.
The land value component being the highest actually encitivizes the opposite: generating maximum value on least amount of land possible.
Georgism will save New York.