NY Educ L § 3613 (2021)
2021 New York Laws EDN - Education Title 5 - Taxation and Financial Administration Article 73 - Apportionment of Public Moneys Part 1 - General Provisions 3613 - School District Reorganizations and Real Property Tax Rates.

§  3613.  School district reorganizations and real property tax rates. 1.  When two or more school districts propose to reorganize pursuant  to sections  fifteen  hundred  eleven  through  fifteen  hundred  thirteen, fifteen  hundred  twenty-four,  fifteen  hundred  twenty-six,  seventeen hundred  five, or eighteen hundred one through eighteen hundred three of this chapter, and under the law that would otherwise be applicable,  the reorganization would have an impact upon the school tax rates within the areas  served  by  the  school  districts  that  existed  prior  to  the reorganization, notwithstanding  any  other  provision  of  law  to  the contrary,  the  boards  of  education  or  trustees  of  all  the school districts participating in the proposed reorganization may opt  to  have that  impact  deferred  for  a  one-year  period and/or phased-in over a period as may be determined by the boards of education  or  trustees  of all  participating  school  districts  in  the manner prescribed by this section but which shall not exceed a ten-year period. To  exercise  such option,  the boards of education or trustees of all participating school districts, after conducting a public hearing, may adopt a resolution  at least forty-five days prior to the special district meeting at which the reorganization vote will be held, to defer and/or phase-in the impact as provided   herein.  If  the  board  of  education  or  trustees  of  any participating school district does not approve such a resolution  opting for  a  common phase-in period, the provisions of this section shall not apply.   2. During the one-year deferral period, the tax rate for each  portion of the school district shall be calculated in the following manner:  (a)  Determine the assessed value tax rate that applied for the school year immediately preceding the school year in which  the  reorganization took effect.  (b)  Multiply  that  assessed value tax rate by the state equalization rate applicable to the portion for the school year immediately preceding the school year in which the reorganization took effect.  (c) Divide the product so determined by the  state  equalization  rate applicable  to  the portion for the first school year of the reorganized school district. The quotient is the assessed value  tax  rate  for  the portion  for  that  school  year.  Provided, that if the sum of the real property tax levies in all of the portions in the school district, using the assessed value tax rates  computed  pursuant  to  this  subdivision, would  yield  a  real property tax levy that is above or below the total real property tax levy specified in the school district budget  for  the current school year, the assessed value tax rates shall all be decreased or  increased proportionately so as to yield the specified real property tax levy amount.   3. During each year of a phase-in period, whose  duration  up  to  ten years  shall have been determined by the boards of education or trustees of the constituent school districts, the tax rate for  each  portion  of the  reorganized  school  district  shall be calculated in the following manner:  (a) Determine the assessed value tax rate that applied for the  school year  immediately  preceding the school year in which the reorganization took effect.  (b) Multiply that assessed value tax rate by  the  state  equalization rate applicable to the portion for the school year immediately preceding the  school  year in which the reorganization took effect. The result is the base full value tax rate of the portion.  (c) Determine the assessed value tax rate that would have  applied  in the portion but for the provisions of this section.  (d)  Multiply  that  assessed value tax rate by the state equalization rate that would have applied for the current school  year  but  for  the  provisions of this section. The result is the target full value tax rate for the portion.  (e)  Determine  the  difference between the target full value tax rate and the base full value tax rate for the portion.  (f) Divide the difference so determined by the total number  of  years in the phase-in period applicable to the school district.  (g)  Multiply  the  quotient so determined by the number of years from the beginning of the phase-in period up to and including  the  year  for which the tax rate is being determined.  (h) Add the product so determined to the base full value tax rate.  (i)  Divide the sum so determined by the applicable equalization rate. The quotient is the assessed value tax rate  for  the  portion  for  the current  school year. Provided, that if the sum of the real property tax levies in all of the portions in the school district, using the assessed value tax rates computed pursuant to this  subdivision,  would  yield  a real  property  tax  levy that is above or below the total real property tax levy specified in the school district budget for the current  school year,  the  assessed value tax rates shall all be decreased or increased proportionately so as to yield the  specified  real  property  tax  levy amount.   4.  As  used herein the term "portion" means that part of an assessing unit located within a school district.