New York § 561 Payments in lieu of taxes; change of assessment; effective date

New York Statutes

§ 561 — Payments in lieu of taxes; change of assessment; effective date

New York § 561

Law RPTReal Property Tax

Title 4Miscellaneous Provisions

Art. 5Assessment Procedure

This text of New York § 561 (Payments in lieu of taxes; change of assessment; effective date) 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. Real Property Tax § 561 (2026).

Text

  § 561. Payments in lieu of taxes; change of assessment; effective\ndate. Notwithstanding any other provision of law, for any payment in\nlieu of taxes agreement entered into on or after the effective date of\nthis section, when the assessment of a property making payments in lieu\nof taxes is challenged through the grievance process, any reduction in\npayments in lieu of taxes made to a school district resulting from such\nchallenge shall not take effect until the following taxable status year.\n

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§ 561. Payments in lieu of taxes; change of assessment; effective\ndate. Notwithstanding any other provision of law, for any payment in\nlieu of taxes agreement entered into on or after the effective date of\nthis section, when the assessment of a property making payments in lieu\nof taxes is challenged through the grievance process, any reduction in\npayments in lieu of taxes made to a school district resulting from such\nchallenge shall not take effect until the following taxable status year.\n