New York S03175 exempts water system property owned by private water-works corporations in large counties from being included as special franchise.
New York S03175 amends the real property tax law to exclude water system property owned by private water-works corporations in counties with a population of one million or more that are special assessing units from being classified as special franchise property. This change aims to provide tax relief to these corporations, which is intended to be used for reducing current water rates and offsetting future water rate increases. The bill takes effect immediately upon enactment.
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