NY Real Prop Tax L § 546 (2021)
2021 New York Laws RPT - Real Property Tax Article 5 - Assessment Procedure Title 2 - Assessment and Taxation of Certain State Lands 546 - State Aid; Loss of Certain Public Utility Property.

§  546.  State  aid; loss of certain public utility property. 1. State   aid shall be payable to any tax  district,  as  defined  in  subdivision   seven  of this section, when on any assessment roll the taxable assessed   valuation in such district is decreased in any year by an  amount  equal   to  or  in excess of ten percent of the total taxable assessed valuation   on the latest preceding assessment roll because of the removal from such   assessment roll of taxable real property of a public utility company, as   defined in section two of  the  public  service  law,  as  a  direct  or   indirect  consequence of the surrender of any license, franchise, permit   or authorization of  such  utility  company  where  the  undertaking  or   entering  into  of any project, operation, activity or contract actually   undertaken or entered into by the state  or  any  state  agency  or  any   authority   or   commission   created  or  continued  under  the  public   authorities law is by any law or regulation of  this  state  or  of  the   United States specifically conditioned upon such surrender.2.  The state aid payable to a tax district in the first year in which   there is a decrease in taxable assessed valuation as  a  result  of  the   removal  from  the  assessment roll described in subdivision one of this   section shall be equal to eighty per cent of the total amount  of  taxes   which would have been levied on the assessed valuation so removed at the   tax rate for the year preceding such removal, from which state aid shall   be  subtracted  an  amount equal to the amount of taxes which would have   been levied at the tax rate for the preceding year on the excess of  (i)   the total taxable assessed valuation of the new property assessed on the   assessment  roll on which the decrease in assessed valuation occurs over   (ii) one percent of the total assessed valuation of taxable property  on   the latest preceding assessment roll. In the next three succeeding years   state aid payable to such tax district shall be equal to sixty per cent,   forty per cent and twenty per cent, respectively, of the total amount of   taxes  which would have been levied on the assessed valuation removed as   described in subdivision one of this section at the  tax  rate  for  the   year  preceding such removal from which state aid shall be subtracted an   amount equal to the amount of taxes which would have been levied at  the   tax  rate  for  the latest preceding year on the excess of (i) the total   taxable  assessed  valuation  of  the  new  property  assessed  on   the   assessment  roll  on which taxes are levied for the fiscal year in which   the aid is payable over (ii) one percent of the total assessed valuation   of taxable property on the assessment roll preceding  the  removal  from   the  assessment  roll  described  in  subdivision  one  of  this section   multiplied by the number of fiscal years for which the tax district  has   received state aid under this section including the then current year.3.  In the case of a school district, the state aid payable under this   section shall be reduced by an amount equal to the amount of  additional   state  aid which is payable to such school district under any other laws   directly or indirectly as a result of the  decrease  in  full  valuation   caused  by the removal from the assessment roll described in subdivision   one of this section.4. In making computations and determinations pursuant to this section,   there shall be taken into account increases or decreases in the level of   assessment.5. The chief fiscal officer of a  tax  district  which  qualifies  for   state  aid  pursuant  to this section shall make application therefor to   the commissioner. The application shall be made on a form prescribed  by   such commissioner and shall contain such information as the commissioner   shall  require.  Upon  approval  of  the  application  therefor  by  the   commissioner, such state aid shall be paid upon audit and warrant by the   state comptroller. 6. The term "new property" as used in this section shall mean the real   property which was assessed as taxable on the assessment roll  used  for   the levy of taxes for a fiscal year for which state aid is payable under   this  section and which was not assessed as taxable real property on the   assessment  roll  of the tax district next preceding the assessment roll   affected  by  the  removal  from  the  assessment  roll   described   in   subdivision one of this section.7.  The  term  "tax  district"  shall mean a county, a city and a city   school district located in a city qualifying for  state  aid  under  the   provisions of this section.8.  Notwithstanding  the foregoing subdivisions of this section, state   aid shall be payable as hereinafter  provided  to  any  school  district   located  wholly  or  partly  within  a  city  of  less  than one hundred   twenty-five thousand population, where on any assessment  roll  prepared   prior  to  the  effective  date of this subdivision the taxable assessed   valuation in such district has been decreased by an amount equal  to  or   in  excess  of  eight percent of the total taxable assessed valuation on   the assessment roll next preceding such roll because of the  removal  of   taxable real property of a public utility company, as defined in section   two  of  the  public service law, as a direct or indirect consequence of   the acquisition of such property by the state or an agency of the  state   or  of  the surrender of any license, franchise, permit or authorization   of such utility company where the undertaking or entering  into  of  any   project,  operation, activity or contract actually undertaken or entered   into by the state or any state agency or  any  authority  or  commission   created  or  continued under the public authorities law is by any law or   regulation  of  this  state  or  of  the  United   States   specifically   conditioned  upon  such  surrender.  Such  state aid shall be payable on   application of the chief fiscal officer of such school district  in  the   second,  third,  fourth and fifth school fiscal years following the last   fiscal year for which a transition assessment was  established  pursuant   to  section  five  hundred  forty-five of the real property tax law. The   amount of such state aid payable in each of such years  shall  be  forty   percent of the amount of state aid paid in the first year of eligibility   to  such  school  district  under the provisions of section five hundred   forty-five  of  the  real  property  tax  law.  Upon  approval  of   the   application  by  the  commissioner the commissioner shall certify to the   state comptroller  the  amount  of  payment  computed  pursuant  to  the   provisions of this subdivision and such amounts shall be paid upon audit   and  warrant  by the state comptroller out of moneys appropriated by the   legislature for the payment of taxes on state-owned lands.* 9. Notwithstanding the foregoing subdivisions of this section, state   aid shall be payable as hereinafter provided to a city of less than  one   hundred  twenty-five  thousand  population, where on any assessment roll   prepared prior to the effective date of  this  subdivision  the  taxable   assessed valuation in such city has been decreased by an amount equal to   or in excess of eight percent of the total taxable assessed valuation on   the  assessment  roll next preceding such roll because of the removal of   taxable real property of a public utility company, as defined in section   two of the public service law, as a direct or  indirect  consequence  of   the  acquisition of such property by the state or an agency of the state   or of the surrender of any license, franchise, permit  or  authorization   of  such  utility  company where the undertaking or entering into of any   project, operation, activity or contract actually undertaken or  entered   into  by  the  state  or any state agency or any authority or commission   created or continued under the public authorities law is by any  law  or   regulation   of   this  state  or  of  the  United  States  specifically   conditioned upon such surrender. Such state  aid  shall  be  payable  on    application  of  the chief fiscal officer of such city in the fourth and   fifth city fiscal years following the  last  fiscal  year  for  which  a   transition  assessment  was established pursuant to section five hundred   forty-five  of  the  real property tax law. The amount of such state aid   payable in each of such years shall be forty percent of  the  amount  of   state  aid  paid in the first year of eligibility to such city under the   provisions of section five hundred forty-five of the real  property  tax   law.   Upon   approval  of  the  application  by  the  commissioner  the   commissioner shall certify  to  the  state  comptroller  the  amount  of   payment computed pursuant to the provisions of this subdivision and such   amounts  shall  be  paid upon audit and warrant by the state comptroller   out of moneys appropriated by the legislature for the payment  of  taxes   on state-owned lands.*  NB  (Applicable  only  to  city  fiscal years commencing 1/1/72 and   1/1/73)