§ 586 — Assessment of watershed conservation easements and watershed agricultural easements

New York § 586

• Jurisdiction: New York
• Law RPT: Real Property Tax
• Title 4-A: Assessment and Taxation of Watershed Conservation Easements and Watershed Agricultural Easements Acquired By or On Behalf of the City of New York For Watershed Protection Purposes
• Art. 5: Assessment Procedure

Text

§ 586. Assessment of watershed conservation easements and watershed\nagricultural easements. 1. Upon acquisition of a watershed conservation\neasement or a watershed agricultural easement, there shall be determined\nan allocation factor applicable to each parcel subject to such easement.\nThe allocation factor shall be the portion of the value of each parcel\nwhich the easement represents, expressed as a percentage. This\npercentage shall be a fraction, the numerator of which is the fair\nmarket value of the easement as finally determined by the city's\nindependent appraisal and the denominator of which is the fair market\nvalue of the land subject to the easement, exclusive of improvements and\nunencumbered by the easement, as finally determined in the city's\nindependent appraisal. The city shall forthwith certify each such\nallocation factor to the appropriate assessing unit and to the owner of\nthe land subject to the easement. The city shall supply to the assessing\nunit and the commissioner the following information used in conjunction\nwith the acquisition of the easement:\n (a) the fair market value of the easement as finally determined in the\ncity's independent appraisal;\n (b) the fair market value of the land subject to the easement\nexclusive of improvements and unencumbered by the easement as finally\ndetermined in the city's independent appraisal;\n (c) the fair market value of each improvement, on the land subject to\nthe easement, as finally determined by the city's independent appraisal;\n (d) the name and address of the owner;\n (e) the location of the parcel including the tax map parcel\ndesignation;\n (f) the date the easement was acquired; and\n (g) such other information as the assessor may subsequently require\nfor assessment purposes.\n 2. The assessment of a watershed conservation easement or watershed\nagricultural easement shall be determined by multiplying the allocation\nfactor for that easement as computed in subdivision one of this section\nby the assessment determined by the assessor for the land subject to\nsuch easement exclusive of the improvements thereon. After subtracting\nthe assessment for each watershed conservation easement or watershed\nagricultural easement from the parcel's total assessment, the remaining\nassessment shall be entered on the assessment roll as taxable to the\nowner of the property. Each watershed conservation easement or watershed\nagricultural easement, whether it encumbers the entire parcel or only a\nportion thereof, shall be entered as a separate parcel on the taxable\nportion of the assessment roll and shall be assessed in the name of the\ncity of New York.\n 3. Not later than twenty days prior to the date provided by law for\nthe completion of the tentative assessment roll in any assessing unit in\nwhich watershed conservation easements or watershed agricultural\neasements are subject to taxation, but in no event any earlier than the\ntaxable status date for such roll, the assessor shall notify the city of\nthe amount of the assessments of such easements and the amount of the\nassessments of the lands subject to such easements. In the case of a\nvillage which has enacted a local law as provided in subdivision three\nof section fourteen hundred two of this chapter, the town or county\nassessor, who prepared a copy of the applicable part of the town or\ncounty assessment roll for village tax purposes, shall also notify the\ncity of the amount of the assessments of such easements and the amount\nof the assessments of the lands subject to such easements located within\nthe village.\n 4. The city and the owner of the burdened parcel shall each be a\nperson aggrieved by the assessment of the parcel or parcels burdened by\nwatershed conservation easements or watershed agricultural easements for\nthe purpose of seeking administrative and/or judicial review of such\nassessments. Whenever the city or property owner seeks administrative or\njudicial review of the assessment of the land subject to such easement,\nthe party seeking review shall provide a copy of the complaint or\npetition to the other party with an interest in the parcel subject to\nthe easement within twenty days of the filing of a complaint or the\nservice of a petition. The noncomplaining party (owner or city) shall be\ndeemed a party to the proceeding with full rights to participate and\nbound by the determination of such proceeding.\n 5. (a) Where a watershed conservation easement or agricultural\nconservation easement is acquired:\n (i) On a parcel of property which is otherwise fully exempt from\ntaxation, the assessor shall determine the taxable assessed value of the\neasement by multiplying the allocation factor by the total assessed\nvalue of the land; or\n (ii) On a parcel of property which is partially exempt from taxation,\nthe assessor shall determine the taxable assessed value of the easement\nby multiplying the allocation factor by the total assessed value of the\nland; or\n (iii) On a parcel of property which is partially exempt from taxation,\nthe taxable assessed value of the burdened parcel shall be calculated by\npro-rating the partial exemption in the same proportion as the\nallocation factor. The owner of the burdened parcel shall be entitled to\nthe pro-rated portion of the exemption.\n (b) The provisions of this subdivision shall not apply to watershed\nagricultural easements as described in subdivision one of section five\nhundred eighty-five of this title or to parcels burdened by such\neasements.\n 6. Whenever a watershed conservation easement or watershed\nagricultural easement encumbers a parcel containing improvements, those\nimprovements shall be separately assessed in the name of the owner\nthereof.\n