Bill > A08736

This bill provides for the taxation of state-owned land for all purposes, exclusive of improvements and in accordance with any payment in lieu of taxes agreement, commencing on and after January 1, 2021. The bill establishes a graduated percentage of the taxes that would be owed if the land were privately owned, starting at 10% in 2021 and increasing to 30% in 2025 and thereafter. The amount of taxes paid will not reduce any real property taxation payment owed to a municipal corporation, and on land with a payment in lieu of taxes agreement, the state will pay the greater of the amount owed under the agreement or the amount owed under the new provision.