2023 New York Laws › RPT - Real Property Tax › Article 8 - County Equalization › Title 2 - Alternative Method of County Equalization › 847 - Alternative County Tax Apportionment.

§  847.  Alternative  county tax apportionment. 1. Notwithstanding the
provisions of section eight hundred forty-four of this title, any county
to which this title is applicable, and which includes a designated large
property, as determined by  the  commissioner,  may  provide  by  annual
resolution, adopted on or before November first of each year, that taxes
to  be  levied for the upcoming fiscal year shall be apportioned to each
city or town in  accordance  with  the  provisions  set  forth  in  this
section.
2.  A  designated  large  property  is real property consisting of one
parcel on an assessment roll or multiple parcels on an  assessment  roll
under common ownership that meet all of the following criteria:
(a)  the  large property constitutes five percent or more of the total
assessed value used to establish the latest state equalization rate  and
constitutes five percent or more of the total assessed value of a school
district segment of the city or town;
(b)  the  full  value  estimate  of  the  large  property  used by the
commissioner to establish the latest state equalization rate is at least
five million dollars; and
(c) the percentage difference between the  latest  state  equalization
rate  and  the  apportionment  equalization  rate  computed  pursuant to
subdivision four of this section is at least five percent.
3. Within five days of the establishment of  the  latest  final  state
equalization  rate,  the  commissioner shall notify both the appropriate
county and the assessing unit of such  designation.  Such  notice  shall
contain instructions for the apportionment of the tax levy in accordance
with  the  provisions  of  subdivision  seven  of this section and shall
contain an apportionment rate computed in  accordance  with  subdivision
four of this section.
4. The apportionment rate shall be the latest final state equalization
rate,  computed  exclusive  of  the  total  assessed value or full value
estimate of the designated large property.
5. If there is a change in level of assessment between the  assessment
roll  for  which the latest final state equalization rate is established
and the assessment roll  upon  which  the  county  tax  is  levied,  the
apportionment  rate  for  county  tax  apportionment  purposes  shall be
adjusted by multiplying the apportionment rate by the change in level of
assessment.
6. Within five days of receiving notification  from  the  commissioner
that  a  designated large property exists, the assessor shall certify to
the county the assessed value of the designated large property  for  the
purpose  of  apportioning  and levying taxes. A copy of such certificate
shall also be provided to the commissioner.
7. The county shall apportion and levy its taxes as follows:
(a) The tax shall be apportioned in accordance with the provisions  of
this title.
(b)  The amount of tax to be raised from the designated large property
shall be determined by multiplying the appropriate  assessed  value  tax
rate  determined in accordance with paragraph (a) of this subdivision by
the taxable assessed value of the designated large property  within  the
county.  This  shall be the amount of the tax levied upon the designated
large property.
(c) The amount of tax for the designated large property determined  in
paragraph  (b)  of  this  subdivision shall be subtracted from the total
amount of real property tax to be raised throughout the county.
(d) The resulting tax levy from  paragraph  (c)  of  this  subdivision
shall  be  reapportioned  among  all  other  property within the county,
exclusive of the designated large property. This  reapportionment  shall
be done in accordance with this title, except that:
(i)  The  assessed  value  of  the  designated large property shall be
subtracted from the assessed value  of  the  appropriate  city  or  town
segment used in the initial apportionment of the tax in paragraph (a) of
this subdivision.
(ii)  The  apportionment  rate  shall  be  used  for  the city or town
containing the designated large property.
(iii) For all cities and towns not  containing  the  designated  large
property,  the  assessed values and equalization rates shall be the same
amounts used in paragraph (a) of this subdivision.
(e) Separate assessed value tax rates  shall  be  determined  for  the
designated large property and the other property within the city or town
where the designated large property is located.
(f)  In  the event that there are multiple designated large properties
within the county, the amount of tax to be levied upon  each  designated
large  property  to  be  determined in paragraph (b) of this subdivision
shall be summed and treated as one amount for determining the amount  of
tax  to  be  raised from the remaining property in paragraph (c) of this
subdivision.