§ 1105 — Exemption from taxes

New York § 1105

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 5: Monroe County Water Authority
• Art. 5: Public Utility Authorities

Text

§ 1105. Exemption from taxes. 1. It is hereby determined that the\ncreation of the authority and the carrying out of its corporate purposes\nis in all respects for the benefit of the people of the county of Monroe\nand its environments, and is a public purpose, and the authority shall\nbe regarded as performing a governmental function in the exercise of the\npowers conferred upon it by this title and shall not be required to pay\nany taxes, special ad valorem levies or special assessments upon any\nproperty owned by it or under its jurisdiction, control or supervision\nor upon its activities, or any filing, recording or transfer taxes in\nrelation to instruments filed, recorded or transferred by it or on its\nbehalf.\n 2. Any bonds or notes issued pursuant to this title, together with the\nincome therefrom shall be exempt from taxation, except for transfer and\nestate taxes. The revenues, monies and other properties and the\nactivities of the authority shall be exempt from taxes and governmental\nfees or charges, whether imposed by the state or any municipality,\nincluding real estate taxes, franchise taxes or other excise taxes.\n 3. Notwithstanding any other provisions of this chapter, the authority\nmay make payments in lieu of taxes to municipalities and school\ndistricts on any property of the authority located within the\njurisdiction of such municipality or school district. The amounts of\nsuch payments in lieu of taxes shall be as determined by the authority,\nprovided, however, that the sum paid by the authority for any year shall\nin no case exceed the sum last levied by the municipality or school\ndistrict as an annual tax upon the property prior to its acquisition by\nthe authority.\n