New York S10704 makes all state lands subject to taxation for all purposes.

New York S10704 amends the real property tax law to make all state lands subject to taxation for all purposes. The tax rate on these lands will start at five percent of the assessed value and increase by five percent every taxable year until it reaches 100 percent. Lands that were subject to taxation before the effective date of this act will continue to be taxed at their previous rate. This act will take effect on January 1, 2027.

New York S10704 makes all state lands subject to taxation for all purposes.

New York S10704 amends the real property tax law to make all state lands subject to taxation for all purposes. The tax rate on these lands will start at five percent of the assessed value and increase by five percent every taxable year until it reaches 100 percent. Lands that were subject to taxation before the effective date of this act will continue to be taxed at their previous rate. This act will take effect on January 1, 2027.