New York Assembly Bill A09673 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 9673--A  IN ASSEMBLY April 3, 2024 ___________ Introduced by M. of A. BORES -- read once and referred to the Committee on Real Property Taxation -- 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. LBD13486-03-4