Bill Text: NY S03510 | 2017-2018 | General Assembly | Introduced

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Bill Title: Provides for the inclusion of sales tax revenue shared by a county with the school district in the STAR savings calculation.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2018-01-03 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S03510 Detail]

Download: New_York-2017-S03510-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          3510
                               2017-2018 Regular Sessions
                    IN SENATE
                                    January 23, 2017
                                       ___________
        Introduced  by  Sens. RANZENHOFER, DeFRANCISCO, LARKIN -- read twice and
          ordered printed, and when printed to be committed to the Committee  on
          Investigations and Government Operations
        AN  ACT  to  amend  the real property tax law, in relation to school tax
          relief program (STAR) savings calculation
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Subdivision  2 of section 1306-a of the real property tax
     2  law, as amended by section 6 of part N of chapter  58  of  the  laws  of
     3  2011, is amended to read as follows:
     4    2.  Tax  savings. (a)(i) The tax savings for each parcel receiving the
     5  exemption authorized by section four hundred twenty-five of this chapter
     6  shall be computed by subtracting the amount actually levied against  the
     7  parcel  from  the  amount  that  would  have  been levied if not for the
     8  exemption, provided  however,  that  beginning  with  the  two  thousand
     9  eleven-two  thousand  twelve  school year, the tax savings applicable to
    10  any "portion" (which as used herein shall mean that part of an assessing
    11  unit located within a school district) shall not exceed the tax  savings
    12  applicable  to  that  portion in the prior school year multiplied by one
    13  hundred two percent, with the result rounded to the nearest dollar.  The
    14  tax  savings  attributable to the basic and enhanced exemptions shall be
    15  calculated separately. It shall be the responsibility of the commission-
    16  er to calculate tax savings limitations for purposes  of  this  subdivi-
    17  sion.
    18    (ii)  The  tax  savings  applicable  to a portion for the two thousand
    19  ten-two thousand eleven school year shall be determined  by  multiplying
    20  the exempt amount applicable to the portion for the two thousand ten-two
    21  thousand  eleven  school  year by the tax rate applicable to the portion
    22  for the two thousand ten-two thousand eleven school year, with  separate
    23  calculations for the basic and enhanced exemptions.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07950-01-7
        S. 3510                             2
     1    (iii)  Where  a  school tax rate was changed in the midst of the prior
     2  school year, an annualized school  tax  rate  shall  be  used  for  this
     3  purpose. The annualized tax rate for this purpose shall be determined by
     4  calculating  the  average  of  the  tax rates in effect at various times
     5  during  the school year, weighted according to the length of time during
     6  which they were respectively applicable.
     7    (b) For purposes of this subdivision, tax savings shall be  calculated
     8  to  include  any  sales  tax  revenue  shared  by a county with a school
     9  district. Such sales tax revenue shall be added  on  a  pro  rata  basis
    10  equal  to  the  percentage that each parcel receiving an exemption is to
    11  the entire tax levy, as an additional tax levy, prior to calculating the
    12  savings.
    13    (c) A statement shall then be placed on the tax bill for the parcel in
    14  substantially the following form: "Your tax savings this year  resulting
    15  from the New York state school tax relief (STAR) program is $_______."
    16    §  2.  This  act shall take effect immediately and shall apply to real
    17  property taxes levied for fiscal years commencing on and  after  January
    18  first of the fiscal year next succeeding the date on which it shall have
    19  become a law.