Bill > A07267

This bill authorizes the Cattaraugus County assessor to accept a retroactive real property tax exemption application from Olean Community Theatre, Inc. for their property located at 127 South Barry Street. Specifically, the bill allows the organization to apply for a tax exemption under section 420-a of the real property tax law for the 2021-2022 school taxes and 2022 general taxes, even though they missed the original filing deadline. If the assessor determines that the organization would have qualified for the exemption had they filed on time, and after approval from the Olean legislature, the assessor can make corrections to the tax roll. Furthermore, if the exemption is granted and the organization has already paid taxes, the local governing body may choose to refund those taxes or cancel any remaining unpaid taxes, fines, penalties, liens, or interest. The bill takes effect immediately, providing a retroactive solution for the nonprofit organization's tax exemption application.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A7267