Provides a tax exemption on real property owned by active auxiliary police officers in local law enforcement agencies in certain counties having a population of more than three hundred thirty-eight thousand and less than three hundred forty thousand, determined in accordance with the latest federal decennial census.
This bill raises Mount Vernon's deed tax rate to 1.5% on the value of real property sold or transferred within the city. It directly affects homebuyers, sellers, and property owners who complete transactions in Mount Vernon, requiring payment of the tax before deeds can be recorded. Key provisions include a $100,000 exemption on the property value (reducing the tax burden for lower-value sales) and allowing deductions for existing property liens. The tax applies to all conveyances regardless of where negotiations occur, but does not affect transactions finalized before September 1, 1984.
This bill changes how New York property taxes are calculated for solar and wind energy systems. It requires tax assessors to use a new discounted cash flow method that accounts for regional costs and includes specific expenses like community benefit payments, decommissioning costs, and subscriber management fees. Federal tax credits and renewable energy credits (like clean energy certificates) are no longer counted as income when valuing these systems. The law directly affects property owners with solar/wind systems, local assessors, and communities receiving benefit payments. It aims to create fairer tax assessments by reflecting actual system costs and revenue streams.
Authorizes the town of Copake to establish community preservation funds and to impose a real estate transfer tax with revenues to be deposited into the community preservation fund; provides for the repeal of certain provisions upon expiration thereof.
Authorizes the town of Orangetown to establish community preservation funds; establishes a real estate transfer tax with revenues therefrom to be deposited in said community preservation fund; provides for the repeal of such provisions upon the expiration thereof.
Authorizes New Hour for Women and Children LI, Inc. to receive a real property tax exemption for the 2022-2023, 2023-2024 and 2024-2025 assessment rolls.
Authorizes the town of Chester to establish community preservation funds; establishes a real estate transfer tax with revenues therefrom to be deposited in said community preservation fund.
Provides for a partial exemption from taxation of certain residential real property transferred by a governmental entity, nonprofit housing organization, land bank or community land trust to low-income households; sets forth conditions for the discontinuance of such exemption.
This bill expands the residential redevelopment inhibited property exemption to all cities, towns, and villages in the state, removing a current restriction that limited it to one specific city. It allows any municipality to adopt local laws designating properties as "redevelopment inhibited" if they are neglected, abandoned, or have conditions (like long vacancy or zoning violations) preventing private redevelopment. Property owners in designated areas can then receive an exemption from taxes on the increased value of their property after redevelopment, provided they own a one- to four-unit residence, maintain owner-occupancy, and file annual residency affidavits. The exemption covers only the incremental tax increase from redevelopment, not the base property value, and requires compliance with building and zoning codes.
This bill extends tax exemptions for mutual redevelopment companies in cities with over one million residents. It allows local governments to grant an additional 50-year tax exemption period after the initial maximum period ends, provided the company pays at least 5% of annual rent (minus utilities) for residential units or the taxes paid in 2001 - whichever is lower. The exemption applies specifically to residential portions of redevelopment projects. This change directly affects mutual redevelopment companies operating in large cities like New York City, altering their long-term tax obligations.
