§ 847. Alternative county tax apportionment.
1.Notwithstanding the\nprovisions of section eight hundred forty-four of this title, any county\nto which this title is applicable, and which includes a designated large\nproperty, as determined by the commissioner, may provide by annual\nresolution, adopted on or before November first of each year, that taxes\nto be levied for the upcoming fiscal year shall be apportioned to each\ncity or town in accordance with the provisions set forth in this\nsection.\n 2. A designated large property is real property consisting of one\nparcel on an assessment roll or multiple parcels on an assessment roll\nunder common ownership that meet all of the following criteria:\n (a) the large property constitutes five percent or more of the total\nassessed valu
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§ 847. Alternative county tax apportionment. 1. Notwithstanding the\nprovisions of section eight hundred forty-four of this title, any county\nto which this title is applicable, and which includes a designated large\nproperty, as determined by the commissioner, may provide by annual\nresolution, adopted on or before November first of each year, that taxes\nto be levied for the upcoming fiscal year shall be apportioned to each\ncity or town in accordance with the provisions set forth in this\nsection.\n 2. A designated large property is real property consisting of one\nparcel on an assessment roll or multiple parcels on an assessment roll\nunder common ownership that meet all of the following criteria:\n (a) the large property constitutes five percent or more of the total\nassessed value used to establish the latest state equalization rate and\nconstitutes five percent or more of the total assessed value of a school\ndistrict segment of the city or town;\n (b) the full value estimate of the large property used by the\ncommissioner to establish the latest state equalization rate is at least\nfive million dollars; and\n (c) the percentage difference between the latest state equalization\nrate and the apportionment equalization rate computed pursuant to\nsubdivision four of this section is at least five percent.\n 3. Within five days of the establishment of the latest final state\nequalization rate, the commissioner shall notify both the appropriate\ncounty and the assessing unit of such designation. Such notice shall\ncontain instructions for the apportionment of the tax levy in accordance\nwith the provisions of subdivision seven of this section and shall\ncontain an apportionment rate computed in accordance with subdivision\nfour of this section.\n 4. The apportionment rate shall be the latest final state equalization\nrate, computed exclusive of the total assessed value or full value\nestimate of the designated large property.\n 5. If there is a change in level of assessment between the assessment\nroll for which the latest final state equalization rate is established\nand the assessment roll upon which the county tax is levied, the\napportionment rate for county tax apportionment purposes shall be\nadjusted by multiplying the apportionment rate by the change in level of\nassessment.\n 6. Within five days of receiving notification from the commissioner\nthat a designated large property exists, the assessor shall certify to\nthe county the assessed value of the designated large property for the\npurpose of apportioning and levying taxes. A copy of such certificate\nshall also be provided to the commissioner.\n 7. The county shall apportion and levy its taxes as follows:\n (a) The tax shall be apportioned in accordance with the provisions of\nthis title.\n (b) The amount of tax to be raised from the designated large property\nshall be determined by multiplying the appropriate assessed value tax\nrate determined in accordance with paragraph (a) of this subdivision by\nthe taxable assessed value of the designated large property within the\ncounty. This shall be the amount of the tax levied upon the designated\nlarge property.\n (c) The amount of tax for the designated large property determined in\nparagraph (b) of this subdivision shall be subtracted from the total\namount of real property tax to be raised throughout the county.\n (d) The resulting tax levy from paragraph (c) of this subdivision\nshall be reapportioned among all other property within the county,\nexclusive of the designated large property. This reapportionment shall\nbe done in accordance with this title, except that:\n (i) The assessed value of the designated large property shall be\nsubtracted from the assessed value of the appropriate city or town\nsegment used in the initial apportionment of the tax in paragraph (a) of\nthis subdivision.\n (ii) The apportionment rate shall be used for the city or town\ncontaining the designated large property.\n (iii) For all cities and towns not containing the designated large\nproperty, the assessed values and equalization rates shall be the same\namounts used in paragraph (a) of this subdivision.\n (e) Separate assessed value tax rates shall be determined for the\ndesignated large property and the other property within the city or town\nwhere the designated large property is located.\n (f) In the event that there are multiple designated large properties\nwithin the county, the amount of tax to be levied upon each designated\nlarge property to be determined in paragraph (b) of this subdivision\nshall be summed and treated as one amount for determining the amount of\ntax to be raised from the remaining property in paragraph (c) of this\nsubdivision.\n