N.Y. Real Property Tax Law § 847: Alternative county tax apportionment

§ 847. Alternative county tax apportionment. 1. Notwithstanding the

provisions of section eight hundred forty-four of this title, any county

to which this title is applicable, and which includes a designated large

property, as determined by the commissioner, may provide by annual

resolution, adopted on or before November first of each year, that taxes

to be levied for the upcoming fiscal year shall be apportioned to each

city or town in accordance with the provisions set forth in this

section.

2. A designated large property is real property consisting of one

parcel on an assessment roll or multiple parcels on an assessment roll

under common ownership that meet all of the following criteria:

(a) the large property constitutes five percent or more of the total

assessed value used to establish the latest state equalization rate and

constitutes five percent or more of the total assessed value of a school

district segment of the city or town;

(b) the full value estimate of the large property used by the

commissioner to establish the latest state equalization rate is at least

five million dollars; and

(c) the percentage difference between the latest state equalization

rate and the apportionment equalization rate computed pursuant to

subdivision four of this section is at least five percent.

3. Within five days of the establishment of the latest final state

equalization rate, the commissioner shall notify both the appropriate

county and the assessing unit of such designation. Such notice shall

contain instructions for the apportionment of the tax levy in accordance

with the provisions of subdivision seven of this section and shall

contain an apportionment rate computed in accordance with subdivision

four of this section.

4. The apportionment rate shall be the latest final state equalization

rate, computed exclusive of the total assessed value or full value

estimate of the designated large property.

5. If there is a change in level of assessment between the assessment

roll for which the latest final state equalization rate is established

and the assessment roll upon which the county tax is levied, the

apportionment rate for county tax apportionment purposes shall be

adjusted by multiplying the apportionment rate by the change in level of

assessment.

6. Within five days of receiving notification from the commissioner

that a designated large property exists, the assessor shall certify to

the county the assessed value of the designated large property for the

purpose of apportioning and levying taxes. A copy of such certificate

shall also be provided to the commissioner.

7. The county shall apportion and levy its taxes as follows:

(a) The tax shall be apportioned in accordance with the provisions of

this title.

(b) The amount of tax to be raised from the designated large property

shall be determined by multiplying the appropriate assessed value tax

rate determined in accordance with paragraph (a) of this subdivision by

the taxable assessed value of the designated large property within the

county. This shall be the amount of the tax levied upon the designated

large property.

(c) The amount of tax for the designated large property determined in

paragraph (b) of this subdivision shall be subtracted from the total

amount of real property tax to be raised throughout the county.

(d) The resulting tax levy from paragraph (c) of this subdivision

shall be reapportioned among all other property within the county,

exclusive of the designated large property. This reapportionment shall

be done in accordance with this title, except that:

(i) The assessed value of the designated large property shall be

subtracted from the assessed value of the appropriate city or town

segment used in the initial apportionment of the tax in paragraph (a) of

this subdivision.

(ii) The apportionment rate shall be used for the city or town

containing the designated large property.

(iii) For all cities and towns not containing the designated large

property, the assessed values and equalization rates shall be the same

amounts used in paragraph (a) of this subdivision.

(e) Separate assessed value tax rates shall be determined for the

designated large property and the other property within the city or town

where the designated large property is located.

(f) In the event that there are multiple designated large properties

within the county, the amount of tax to be levied upon each designated

large property to be determined in paragraph (b) of this subdivision

shall be summed and treated as one amount for determining the amount of

tax to be raised from the remaining property in paragraph (c) of this

subdivision.