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Senate Bill S4019

2025-2026 Legislative Session

Exempts improvement to historic property from taxation if certified and agreed by appropriate agency

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Current Bill Status - In Senate Committee Local Government Committee

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2025-S4019 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §476, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: S4621
2011-2012: S3432
2013-2014: S3085
2015-2016: S1511
2017-2018: S3625
2019-2020: S4605
2021-2022: S5017
2023-2024: S5218

2025-S4019 (ACTIVE) - Summary

Encourages the preservation and viewing of historic properties by allowing an exemption from local real estate tax in cities of a million or more population, for improvements to historic real property and by requiring certain public access to such property; defines the term "historic real property" as a one, two or three family residence which is owner-occupied and designated by the appropriate agency as a historic landmark and such designation is maintained.

2025-S4019 (ACTIVE) - Sponsor Memo

2025-S4019 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4019
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             January 31, 2025
                                ___________
 
 Introduced  by  Sen.  PARKER -- 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  a  tax
   exemption for improvements to historic real property
 
   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 476 to read as follows:
   §  476.  IMPROVEMENTS TO HISTORIC REAL PROPERTY; TAX EXEMPTION. 1.  IN
 CITIES OF A MILLION OR MORE POPULATION, IMPROVEMENTS  TO  HISTORIC  REAL
 PROPERTY  SHALL  BE EXEMPT FROM TAXATION BY ANY MUNICIPAL CORPORATION IN
 WHICH THEY ARE LOCATED TO THE EXTENT THAT THE INCREASE IN ASSESSMENT  IS
 DUE TO SUCH IMPROVEMENT, PROVIDED THAT THE GOVERNING BODY OF SUCH MUNIC-
 IPAL  CORPORATION,  AFTER A PUBLIC HEARING, ADOPTS A LOCAL LAW OR RESOL-
 UTION PROVIDING THEREFOR, AS PROVIDED IN THIS SECTION.
   2. "HISTORIC REAL PROPERTY" SHALL MEAN REAL PROPERTY WHICH IS:
   (A) A ONE-, TWO- OR THREE-FAMILY RESIDENCE  WHICH  IS  OWNER-OCCUPIED;
 AND
   (B)  DESIGNATED BY THE APPROPRIATE LOCAL AGENCY AS A HISTORIC LANDMARK
 AND SUCH DESIGNATION IS MAINTAINED.
   3. NO EXEMPTION SHALL BE GRANTED UNLESS THE AGENCY WHICH IS  RESPONSI-
 BLE TO DESIGNATE THE REAL PROPERTY AS A HISTORIC LANDMARK:
   (A)  CERTIFIES  THAT IT IS IN THE PUBLIC INTEREST TO PROVIDE THAT SUCH
 PROPERTY IS TO BE ACCESSIBLE TO THE PUBLIC; AND
   (B) THE OWNER OF SUCH PROPERTY AND SUCH AGENCY ENTERS INTO A PERMANENT
 AGREEMENT TO PROVIDE FOR REASONABLE  PUBLIC  ACCESS  TO  SUCH  PROPERTY,
 WHICH  AGREEMENT  SHALL  BE  BINDING  ON ALL SUBSEQUENT OWNERS AND WHICH
 AGREEMENT SHALL BE RECORDED IN THE  OFFICE  OF  THE  APPROPRIATE  COUNTY
 CLERK IN LIKE MANNER AS A DEED.
   4. SUCH EXEMPTION FROM TAXATION SHALL BE GRANTED ONLY UPON APPLICATION
 BY THE OWNER OF SUCH HISTORIC REAL PROPERTY ON OR BEFORE THE APPROPRIATE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07584-01-5

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