STATE OF NEW YORK
________________________________________________________________________
8400
2025-2026 Regular Sessions
IN ASSEMBLY
May 13, 2025
___________
Introduced by M. of A. WILLIAMS -- read once and referred to the Commit-
tee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to state aid for
certain towns adversely affected by a concentration of tax exempt
property
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The real property tax law is amended by adding a new
2 section 532-a to read as follows:
3 § 532-a. Certain lands subject to state payments. In any city, town,
4 village or fire district in which the total amount of tax exempt proper-
5 ty represents more than thirty-five percent, by value, of the total
6 amount of property in such city, town, village or fire district, the
7 state shall pay a sum, subject to budgetary appropriation, as follows:
8 1. Fifty percent of such sum shall be paid to each eligible city,
9 town, village or fire district in proportion to such entity's population
10 relative to the population of all such eligible entities; and
11 2. Fifty percent of such sum shall be paid based on the value of tax
12 exempt property in each eligible city, town, village or fire district as
13 a percentage of the value of all tax exempt property in all such eligi-
14 ble entities.
15 § 2. This act shall take effect immediately and shall apply to assess-
16 ment rolls prepared on the basis of taxable status dates occurring on
17 and after the date on which this act shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09618-01-5
