A05062 Summary:

BILL NOA05062
 
SAME ASNo Same As
 
SPONSORDiPietro
 
COSPNSR
 
MLTSPNSR
 
Add 533-a, RPT L
 
Authorizes the reduction of assessed value of land subject to a conservation easement conveyed to not-for-profit conservation organization.
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A05062 Actions:

BILL NOA05062
 
02/06/2017referred to real property taxation
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A05062 Floor Votes:

There are no votes for this bill in this legislative session.
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A05062 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A5062
 
SPONSOR: DiPietro
  TITLE OF BILL: An act to amend the real property tax law, in relation to establishing a reduction in the assessed value of lands burdened by certain conservation easements   PURPOSE OR GENERAL IDEA OF BILL: This bill requires that when a property owner grants a conservation easement to a not-for-profit corporation that the grantor's property be assessed to reflect the grant.   SUMMARY OF SPECIFIC PROVISIONS: Adds new section RPTL § 533-A. Requires a reassessment of the value of property after the owner of the property grants a conservation easement to a not-for-profit corporation.   JUSTIFICATION: The granting of a conservation easement to a not-for-profit corporation can have a significant impact on the assessed value of the property to which the easement applies. This bill would assure that an assessment reflecting that change in value be required after such an easement is granted.   LEGISLATIVE HISTORY: A.3674 of 2015-16 A.5717 of 2013-14   FISCAL IMPLICATIONS: None.   EFFECTIVE DATE: Thirty days after it shall have become law.
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