Bill > S06163

This bill provides a new mechanism for state financial assistance to cities, towns, villages, or fire districts that have an unusually high proportion of tax-exempt property. Specifically, the bill creates a state aid program for local government entities where tax-exempt property represents more than 35% of the total property value. Under this program, state aid would be distributed in two equal parts: 50% allocated proportionally based on the population of eligible entities, and the remaining 50% distributed based on the value of tax-exempt property in each eligible entity compared to the total value of tax-exempt property across all qualifying jurisdictions. The aid is subject to budgetary appropriation, meaning the actual funding will depend on available state funds. The bill will take effect immediately and will apply to assessment rolls prepared after the law's enactment, providing financial relief to local governments that bear a significant burden from tax-exempt properties, which typically include government buildings, schools, churches, and certain non-profit organizations that do not pay property taxes.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S6163