Establishes a residential-commercial exemption program in certain counties.

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S7424-2011 Actions

• Jun 20, 2012: SUBSTITUTED BY A10107
• Jun 20, 2012: ORDERED TO THIRD READING CAL.1442
• Jun 20, 2012: COMMITTEE DISCHARGED AND COMMITTED TO RULES
• May 14, 2012: REFERRED TO LOCAL GOVERNMENT

S7424-2011 Meetings

Rules: Jun 21, 2012

S7424-2011 Calendars

Floor Calendar: Jun 20, 2012

S7424-2011 Votes

S7424-2011 Memo

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.

S7424-2011 Text

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

                                    7424

                              I N  SENATE

                                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