New York § 1343 Agreements relating to payment in lieu of taxes

New York Statutes

§ 1343 — Agreements relating to payment in lieu of taxes

New York § 1343

Law PBAPublic Authorities

Title 11-DCentral New York Regional Transportation Authority

Art. 5Public Utility Authorities

This text of New York § 1343 (Agreements relating to payment in lieu of taxes) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Public Authorities § 1343 (2026).

Text

  § 1343. Agreements relating to payment in lieu of taxes. To the end\nthat municipal corporations, counties and school districts may not\nsuffer undue loss of taxes or assessments:\n  If the authority acquires property for non-transportation purposes\n(e.g. for future transportation purposes but not to be so used\nimmediately) the authority except as hereinafter provided, shall pay to\nthe participating county and/or city, town or school district where the\nproperty is located, annually, in lieu of taxes, a sum equal to the sum\nlast paid as taxes upon the property prior to the time of its\nacquisition by the authority. Should such property be subsequently\ndeveloped and improved but still remain unused for transportation\npurposes, it shall during such period of disuse for transportation

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§ 1343. Agreements relating to payment in lieu of taxes. To the end\nthat municipal corporations, counties and school districts may not\nsuffer undue loss of taxes or assessments:\n If the authority acquires property for non-transportation purposes\n(e.g. for future transportation purposes but not to be so used\nimmediately) the authority except as hereinafter provided, shall pay to\nthe participating county and/or city, town or school district where the\nproperty is located, annually, in lieu of taxes, a sum equal to the sum\nlast paid as taxes upon the property prior to the time of its\nacquisition by the authority. Should such property be subsequently\ndeveloped and improved but still remain unused for transportation\npurposes, it shall during such period of disuse for transportation be\nsubject to assessment, at the prevailing method of determining\nassessments, by the county and/or city and/or school district and the\nauthority shall, based on such assessment, annually, in lieu of taxes,\npay to the county and/or city and/or school district an amount fixed by\nit.\n If the authority acquires property for transportation purposes but\nsubsequently uses such property for non-transportation purposes, then\nthe authority shall be required, except as hereinafter provided, to pay\nannually in lieu of taxes to the participating county and/or city and/or\nschool district wherein such property is located, an amount equal to the\nsum which the said county and/or city and/or school district would\nordinarily be imposed as taxes, pursuant to the prevailing method of\ndetermining assessments.\n Properties acquired by the authority for transportation and used as\nsuch, shall not be subject to the payment of any taxes except that the\nauthority shall pay such property special benefit assessments on the\nproperty if it is located in an existing special benefit district.\n