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Bill > S08726
NY S08726
NY S08726Requires applications for property tax exemptions by nonprofit organizations be filed at the time of purchase of a property; provides that the attorney or agent responsible for filing such application shall be fined twenty-five percent of the property's assessed taxes if such application is not timely filed.
summary
Introduced
01/07/2026
01/07/2026
In Committee
01/07/2026
01/07/2026
Crossed Over
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend the real property tax law, in relation to requiring applications for property tax exemptions by nonprofit organizations be filed at the time of purchase of a property
AI Summary
This bill requires that nonprofit organizations seeking property tax exemptions must file their applications at the exact time they purchase a property, rather than at a later date. If the attorney or agent responsible for filing the application fails to do so on time, they will be penalized with a fine equal to twenty-five percent of the property's assessed taxes. This change aims to ensure timely applications for these exemptions, which are granted to organizations that meet specific criteria for tax relief on real estate they own.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
REFERRED TO LOCAL GOVERNMENT (on 01/07/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2025/S8726 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S08726&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S08726 |
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