Subjects to taxation the possessory interest of a private individual or corporation which uses real property owned by the United States or the state, except for real property owned by public authorities, for business purposes; excludes private property where the use is for a concession available to the general public located on property, such as parks, available for the use of the general public.
Summary
Bill S00664 amends the real property tax law to subject the possessory interests of private lessees or contractors using real property owned by the United States or the state of New York to taxation. This applies unless the property is owned by public authorities or the use is for a concession available to the general public at locations like parks or airports. The bill establishes that the lessees or contractors will be taxed as if they were the owners of the property, with specific provisions for how these taxes will be assessed and collected.
Impact
The bill significantly alters the taxation framework for private entities using state or federally owned properties, ensuring that they contribute to local tax revenues. It allows municipalities to adopt local laws to impose these taxes, providing a structured approach to taxation while offering partial exemptions for existing possessory interests for a limited time. This could lead to increased revenue for local governments but may also affect businesses that rely on these properties for operations.
Sentiment
The sentiment around Bill S00664 appears to be mixed. During committee discussions and votes, there was a notable level of support, as evidenced by the 41-19 vote in the Senate for final passage. However, the dissenting votes suggest that there are concerns regarding the implications of taxing private interests on public land, particularly for small businesses and the potential impact on public access to these properties.
Contention
Notable points of contention include the potential burden on small businesses, as the bill exempts businesses with fewer than twenty-five employees from these taxes. Some legislators expressed concerns that imposing taxes on lessees could deter businesses from utilizing public properties, while proponents argue that it levels the playing field and ensures fair taxation. The debate reflects broader concerns about the balance between generating revenue and supporting local businesses.
Same As
Subjects to taxation the possessory interest of a private individual or corporation which uses real property owned by the United States or the state, except for real property owned by public authorities, for business purposes; excludes private property where the use is for a concession available to the general public located on property, such as parks, available for the use of the general public.
Subjects to taxation the possessory interest of a private individual or corporation which uses real property owned by the United States or the state, except for real property owned by public authorities, for business purposes; excludes private property where the use is for a concession available to the general public located on property, such as parks, available for the use of the general public.
Subjects to taxation the possessory interest of a private individual or corporation which uses real property owned by the United States or the state, except for real property owned by public authorities, for business purposes; excludes private property where the use is for a concession available to the general public located on property, such as parks, available for the use of the general public.
To Amend The Law Concerning The Assessment Of Property For The Purpose Of Property Tax; And To Repeal The Requirement That Personal Property Subject To Taxation Be Listed Or Reported By The Property Owner.
To Amend The Definition Of "recreational Purpose" As Used In Relation To The Liability Of A Property Owner Who Makes Land Available To The Public For Recreational Purposes.
Restricting residential homestead property taxes to not more than the established base of property taxes owed for individuals 65 years of age and older and eliminating the property tax exemption for certain commercial properties used for healthcare when in competition with other non-exempt properties.
Probate: trusts; uniform statutory rule against perpetuities; revise to reflect limitation of the personal property trust perpetuities act to certain property. Amends secs. 3 & 5 of 1988 PA 418 (MCL 554.73 & 554.75). TIE BAR WITH: HB 4033'25
Relating to the status of certain documents or instruments concerning real or personal property; creating the criminal offenses of real property theft and real property fraud and establishing a statute of limitations for those offenses; harmonizing other statute of limitations provisions; increasing a criminal penalty.