New York bill A08400 provides state aid to cities, towns, villages, or fire districts with over 35% tax-exempt property.

New York bill A08400 amends the real property tax law to provide state aid for cities, towns, villages, or fire districts with a concentration of tax-exempt property. The aid is distributed based on both population and the value of tax-exempt property. Fifty percent of the aid is allocated based on the population of the affected entity relative to all eligible entities, and the other fifty percent is based on the value of tax-exempt property in the affected entity relative to all such property. This act takes effect immediately and applies to assessment rolls prepared after its enactment.

New York bill A08400 provides state aid to cities, towns, villages, or fire districts with over 35% tax-exempt property.

New York bill A08400 amends the real property tax law to provide state aid for cities, towns, villages, or fire districts with a concentration of tax-exempt property. The aid is distributed based on both population and the value of tax-exempt property. Fifty percent of the aid is allocated based on the population of the affected entity relative to all eligible entities, and the other fifty percent is based on the value of tax-exempt property in the affected entity relative to all such property. This act takes effect immediately and applies to assessment rolls prepared after its enactment.