Bill Text: NY A01032 | 2021-2022 | General Assembly | Introduced
Bill Title: Adjusts the format for exemption reports prepared for local municipalities.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2022-01-05 - referred to real property taxation [A01032 Detail]
Download: New_York-2021-A01032-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 1032 2021-2022 Regular Sessions IN ASSEMBLY January 7, 2021 ___________ Introduced by M. of A. CAHILL -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to the prepara- tion of exemption reports for local municipalities The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivisions 1 and 2 of section 495 of the real property 2 tax law, as added by chapter 258 of the laws of 2008, and subdivision 1 3 as further amended by subdivision (b) of section 1 of part W of chapter 4 56 of the laws of 2010, are amended to read as follows: 5 1. Whenever a county, city, town, village or school district is 6 required to prepare an annual budget, the official required to prepare a 7 tentative or preliminary version of that budget shall [annex thereto], 8 in addition, prepare an exemption report. This report shall be [on a9form prescribed by the commissioner and] organized in accord with a 10 template and within categories provided by the commissioner, specifying 11 groups of persons or institutions benefited by any exemption created by 12 statutory or constitutional provision, and shall be linked by reference 13 to related programs or categories in the budget of the local jurisdic- 14 tion for that year. Such report shall show [how much of the total] the 15 presence or absence of local choice in granting the exemption, and spec- 16 ify by category and in total the assessed value that is exempt from 17 taxation on the final assessment roll or rolls used in that budgetary 18 process [is exempt from taxation. This report shall list every type of19exemption granted, identified by statutory authority, and shall show (a)20the cumulative impact of each type of exemption expressed either as a21dollar amount of assessed value or as a percentage of the total assessed22value on the roll, (b)], the percentage that each category of exempt 23 property comprises of the total assessment roll, the net revenue forgone 24 as a result of each category of exemption and in total, and the effect 25 on the local tax obligation for a single family residential property of EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01299-01-1A. 1032 2 1 average value in the jurisdiction if the category of exemption were 2 removed, calculated on the basis of the amount to be raised by taxation 3 and tax rate or rates adopted by the jurisdiction's governing board for 4 use in funding the annual budget, and taking account of the cumulative 5 amount expected to be received from recipients of each type of exemption 6 as payments in lieu of taxes or other payments for municipal services[,7and (c) the cumulative impact of all exemptions granted]. [Exemptions] 8 Exemption categories that result in an impact of less than one percent 9 on the final assessment roll may be aggregated as a single entry. In no 10 case shall an individual exemption recipient be named in the report. 11 2. Notice of this report shall be included [in] with any notice of the 12 preparation of the budget otherwise required by law. The report shall be 13 separately posted on any bulletin board maintained by the budgeting 14 authority for public notices and on any website maintained by the budg- 15 eting authority. This report shall be [annexed to] released with any 16 tentative or preliminary budget and [shall become part of] the final 17 budget. 18 § 2. This act shall take effect immediately.
