Relates to taxation of a designated electric generating facility located in the town of Haverstraw.
TITLE OF BILL: An act to provide for the taxation of certain real property in the county of Rockland and providing for the repeal of such provisions upon expiration thereof
PURPOSE: This bill will provide for a ten year phase-in of a shift of non-homestead tax share due to a court ordered assessment reduction for any designated electric generating facility in the County of Rockland.
SUMMARY OF PROVISIONS:
Section 1: This bill will provide for a ten year phase-in of a shift of non-homestead tax share due to a court ordered assessment reduction for any designated electric generating facility in the County of Rockland.
Section 2: Effective Date.
JUSTIFICATION: Historically, court ordered assessment reductions for electric generating facilities have resulted in a significant shifting of the tax burden from the non-homestead class to the homestead (residential) class which negatively impacts on the cost of home ownership. This bill seeks to reduce the volatile impact of such a burden shift by creating an orderly phased transition of such tax share shift over ten years, commencing with the first final municipal assessment roll prepared subsequent to such final court order.
LEGISLATIVE HISTORY: A.5122A of 2011-12/S.3235-A
FISCAL IMPLICATIONS: None.
EFFECTIVE DATE: Immediate.
STATE OF NEW YORK ________________________________________________________________________ 3529 2013-2014 Regular Sessions IN SENATE February 5, 2013 ___________Introduced by Sen. LARKIN -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to provide for the taxation of certain real property in the coun- ty of Rockland 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. Notwithstanding any provision of law to the contrary, if there is a court-ordered assessment reduction of an electric generating facility in the town of Haverstraw on or after July 1, 2012, when levy- ing taxes for town, county, school and village purposes, pursuant to article 19 of the real property tax law upon the assessment roll of the town of Haverstraw, the non-homestead class shall be deemed to consist of two subclasses, one containing electric generating facilities and the other containing all other non-homestead property. For the fiscal years commencing after such reduction, the non-homestead class tax share shall be allocated between these two subclasses so as to preserve the distrib- ution between the two subclasses that existed when taxes were levied the fiscal year prior to such court ordered reduction of said town, subject to adjustments for any physical changes, provided that such subclass share distribution shall be annually adjusted so as to phase out such preservation over the subsequent 10 year period. S 2. This act shall take effect immediately and shall expire and be deemed repealed June 30, 2030.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00361-01-3