§ 64-C — Payment in lieu of taxes for property acquired for park and recreational purposes

New York § 64-C

• Jurisdiction: New York
• Law TWN: Town
• Art. 4: Town Boards

Text

* § 64-c. Payment in lieu of taxes for property acquired for park and\nrecreational purposes. The town of Hempstead, having acquired certain\nproperty for park and recreational purposes in Lido Beach known as the\nLido Golf Club and the Lido Cabana Club shall have the power and\nauthority with respect to such property, to pay or transfer out of any\ntown funds available to it, annual sums in lieu of taxes to the affected\ntaxing jurisdiction, in order that none of such taxing jurisdiction\nshall suffer an inequitable loss of revenue by virtue of such park and\nrecreational program; provided further, that the amount so paid or\ntransferred for any year shall not exceed the sum last levied for the\nbenefit of such taxing jurisdiction as an annual tax on such property\nprior to the time of its acquisition for such purposes.\n As used in this section, the term "taxing jurisdiction" means any\nmunicipal corporation or district corporation, including any school\ndistrict or any special district, having the power to levy and collect\ntaxes and benefit assessments upon real property in Lido Beach or in\nwhose behalf such taxes or benefit assessments may be levied or\ncollected.\n That the payments or transfers made pursuant to the power and\nauthority granted herein with respect to such property shall continue\nnotwithstanding that the legislature of the state of New York may\nhereinafter alter, modify or replace the current method of financing of\npublic education and notwithstanding that a court of competent\njurisdiction may hereinafter order that such method of financing public\neducation be altered, modified or replaced.\n * NB Expires July 1, 2027\n