Bill > S07515

This bill enacts the "Climate Change Property Tax Relief Act," which provides assessment relief to property owners within eligible municipalities in New York State. The key provisions of this bill include: 1. Allowing eligible municipalities (counties, cities, towns, villages, school districts, and special districts, excluding New York City) to pass a local law or resolution to adopt the provisions of this act, which can provide tax abatements for residential properties with three or fewer dwelling units that have sustained damages from a major disaster (as proclaimed by the Governor or President) or a local disaster (not proclaimed as a state of emergency). 2. Defining the criteria for eligible properties, damages, major disasters, and local disasters, as well as setting a minimum damage floor and maximum benefit ceiling for the tax abatements. 3. Outlining the process for property owners to apply for the tax abatements, including providing various forms of evidence of the damages, and the local assessor's role in determining the abatement amount. 4. Specifying that any increase in assessed value due to improvements made to the property after the disaster will not be considered a selective reassessment. The bill takes effect immediately and applies to damages caused by major or local disasters occurring on or after January 1, 2020.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2023/S7515