Bill > S03245

This bill modifies how the New York State Commissioner of Taxation and Finance calculates quantity change factors for local governments and school districts by requiring the inclusion of changes in assessed value for properties under Payment in Lieu of Taxes (PILOT) agreements. Specifically, when determining how the full value of taxable real property has changed between assessment rolls, the commissioner must now account for value changes on tax-exempt properties that are part of PILOT agreements. The bill removes language that previously allowed the commissioner to promulgate rules and regulations adjusting calculations based on development on tax-exempt land, and instead directly mandates the inclusion of PILOT agreement property value changes in the quantity change factor calculations. This change will provide a more comprehensive view of property value changes by incorporating formerly excluded tax-exempt property values. The bill will take effect 120 days after becoming law, with immediate authorization for developing necessary implementing regulations.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S3245