Authorizes counties with a population of one million or more to implement real property tax exemptions for property owned by water-works corporations; authorizes whole and partial exemptions provided the legislative bodies of such counties adopt a local law so providing.
STATE OF NEW YORK
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11295
IN ASSEMBLY
July 25, 2018
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Introduced by COMMITTEE ON RULES -- (at request of M. of A. Pellegrino)
-- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to authorizing
counties with a population of one million or more to implement real
property tax exemptions for property owned by water-works corporations
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 485-d of the real property tax law, as added by
2 chapter 726 of the laws of 1985, is amended to read as follows:
3 § 485-d. Water-works corporations. Real property situated in a city or
4 county with a population of one million or more owned by a water-works
5 corporation subject to the provisions of the public service law and used
6 exclusively for the sale, furnishing and distribution of water for
7 domestic, commercial and public purposes, shall be wholly or partially
8 exempt from taxation provided that the local legislative body of such
9 city or county within which such property is situated adopts a local law
10 so providing.
11 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD16399-01-8
