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S07871 Summary:

BILL NOS07871A
 
SAME ASSAME AS A09673-A
 
SPONSORMAY
 
COSPNSR
 
MLTSPNSR
 
 
Directs the department of taxation and finance to establish a pilot program for implementation of local land value taxation based on classes of land; directs the department of taxation and finance to establish an application procedure for the pilot program.
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S07871 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         7871--A
 
                    IN SENATE
 
                                     January 3, 2024
                                       ___________
 
        Introduced  by  Sen.  MAY  --  read  twice and ordered printed, and when
          printed to be committed  to  the  Committee  on  Local  Government  --
          committee  discharged,  bill amended, ordered reprinted as amended and
          recommitted to said committee
 
        AN ACT
          to direct the department of taxation and finance to establish a  pilot
        program for implementation of local land value taxation

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. 1. The department of taxation and finance shall establish a
     2  pilot program in up to five  municipalities  under  which  such  munici-
     3  palities  shall develop a plan for implementation of land value taxation
     4  that (a) classifies real estate included in such municipality's  assess-
     5  ment  roll as (i) land or land exclusive of buildings, or (ii) buildings
     6  on land; and (b) establishes a different local  property  tax  rate  for
     7  each such class, provided the higher local property tax rate shall apply
     8  to land or land exclusive of buildings.
     9    2.  The department of taxation and finance shall establish an applica-
    10  tion procedure and any other criteria for the pilot program  established
    11  under  subdivision  one  of this section, under which municipalities may
    12  apply to participate in such pilot program.  If a municipality having  a
    13  population  greater  than 50,000 applies for participation in such pilot
    14  program, such municipality shall designate a  specific  neighborhood  or
    15  area within such municipality that would participate in such program, if
    16  selected.  The department of taxation and finance shall send a notice of
    17  selection  for  such pilot program to the chief executive officer of the
    18  municipality and to the temporary president of the senate and the speak-
    19  er of the assembly.
    20    3. In order to apply to participate in the pilot  program  established
    21  under  subdivision  one  of  this  section,  the legislative body of the
    22  applicable municipality shall pass a local law, and  a  school  district
    23  shall  pass  a  resolution,  affirmatively  authorizing  the application
    24  established under subdivision two of this section.
    25    § 2. This act shall take effect immediately.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13486-04-4
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