S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1994

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 14, 2009
                               ___________

Introduced by M. of A. THIELE -- read once and referred to the Committee
  on Real Property Taxation

AN ACT to amend the real property tax law, in relation to establishing a
  real  property  tax credit for real property voluntarily submitted for
  landmark status

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  real  property  tax  law  is amended by adding a new
section 444-b to read as follows:
  S 444-B. VOLUNTARY LANDMARK STATUS. 1.  REAL  PROPERTY  IN  WHICH  THE
OWNER  OF  SUCH  PROPERTY  HAS  VOLUNTARILY  SUBMITTED SUCH PROPERTY FOR
LAND-MARK STATUS SUBSEQUENT TO THE EFFECTIVE DATE  OF  A  LOCAL  LAW  OR
RESOLUTION  ADOPTED  PURSUANT TO THIS SECTION SHALL BE EXEMPT FROM TAXA-
TION AND SPECIAL AD VALOREM LEVIES AS HEREIN PROVIDED.  AFTER  A  PUBLIC
HEARING, THE GOVERNING BODY OF A COUNTY, CITY, TOWN OR VILLAGE MAY ADOPT
A LOCAL LAW AND A SCHOOL DISTRICT, OTHER THAN A SCHOOL DISTRICT GOVERNED
BY THE PROVISIONS OF ARTICLE FIFTY-TWO OF THE EDUCATION LAW, MAY ADOPT A
RESOLUTION TO GRANT THE EXEMPTION AUTHORIZED PURSUANT TO THIS SECTION. A
COPY OF SUCH LOCAL LAW OR RESOLUTION SHALL BE FILED WITH THE STATE BOARD
AND  THE ASSESSOR OF SUCH COUNTY, CITY, TOWN OR VILLAGE WHO PREPARES THE
ASSESSMENT ROLL ON WHICH THE TAXES OF SUCH COUNTY, CITY,  TOWN,  VILLAGE
OR SCHOOL DISTRICT ARE LEVIED.
  2.  PROPERTY VOLUNTARILY SUBMITTED FOR LANDMARK STATUS SHALL BE EXEMPT
FROM TAXATION FOR THE DECREASE IN VALUE TO SUCH PROPERTY RESULTING  FROM
ANY RESTRICTED USE OR LIMITED USE OF SUCH PROPERTY NECESSARY TO MAINTAIN
SUCH PROPERTY AS A LANDMARK.
  3.  NO SUCH EXEMPTION SHALL BE GRANTED PURSUANT TO THIS SECTION UNLESS
THE PROPERTY WAS SUBMITTED FOR LANDMARK STATUS SUBSEQUENT TO THE  EFFEC-
TIVE  DATE  OF  THE  LOCAL  LAW  OR  RESOLUTION ADOPTED PURSUANT TO THIS
SECTION.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03202-01-9

              

A. 1994                             2

  4. SUCH EXEMPTION SHALL BE GRANTED ONLY BY APPLICATION OF THE OWNER OR
OWNERS OF SUCH LANDMARKED REAL PROPERTY ON  A  FORM  PRESCRIBED  BY  THE
STATE  BOARD.  THE  APPLICATION  SHALL BE FILED WITH THE ASSESSOR OF THE
COUNTY, CITY, TOWN OR VILLAGE HAVING POWER TO ASSESS PROPERTY FOR  TAXA-
TION  ON  OR  BEFORE THE APPROPRIATE TAXABLE STATUS DATE OF SUCH COUNTY,
CITY, TOWN OR VILLAGE.
  5. SUCH EXEMPTION SHALL BE GRANTED WHERE  THE  ASSESSOR  IS  SATISFIED
THAT THE APPLICANT IS ENTITLED TO AN EXEMPTION PURSUANT TO THIS SECTION.
THE  ASSESSOR  SHALL  APPROVE  SUCH  APPLICATION AND SUCH PROPERTY SHALL
THEREAFTER BE EXEMPT FROM TAXATION AND  SPECIAL  AD  VALOREM  LEVIES  AS
HEREIN  PROVIDED  COMMENCING  WITH  THE  ASSESSMENT ROLL PREPARED ON THE
BASIS OF THE TAXABLE STATUS DATE REFERRED TO IN SUBDIVISION FOUR OF THIS
SECTION. THE ASSESSED VALUE OF ANY EXEMPTION GRANTED  PURSUANT  TO  THIS
SECTION SHALL BE ENTERED BY THE ASSESSOR ON THE ASSESSMENT ROLL WITH THE
TAXABLE  PROPERTY,  WITH THE AMOUNT OF THE EXEMPTION SHOWN IN A SEPARATE
COLUMN.
  6. A COUNTY, CITY, TOWN OR VILLAGE BY LOCAL LAW OR A  SCHOOL  DISTRICT
BY  RESOLUTION MAY REDUCE THE PERCENT OF THE EXEMPTION OTHERWISE ALLOWED
PURSUANT TO THIS SECTION.
  S 2. This act shall take effect immediately and shall apply to assess-
ment rolls prepared on the basis of taxable status dates occurring on or
after such date.