2023 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)