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Understanding Property Tax Exemptions and Recommended Governmental Actions

This report highlights key facts about property tax exemptions and proposes recommended governmental actions to address issues related to tax exemptions. The report emphasizes the need for revising tax cap formulas, separate administration of the STAR program, increased visibility and understanding of the impact of exemptions, annual reporting of new exemptions, and consistent policies for payments to localities. The full report can be accessed through the provided link.

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Understanding Property Tax Exemptions and Recommended Governmental Actions

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  1. KT Tobin Associate Director, Benjamin Center for Public Policy Initiatives Orange County Citizen’s Foundation Open Space Forum November 13, 2018

  2. Key facts about property tax exemptions not well understood: • Tax exemptions are pervasive and most exemptions are a result of state policy • They are increasing in number for a variety of goals • Most exemption reduce taxes for private citizensSTAR is not a tax exemption program • IDA-related exemptions are on the increase, in particular in our region • Most fully exempt property is government owned • The state government often compensates localities for exemptions on undeveloped state-owned properties within their borders, but not in accord with a systematic policy • The value of wholly exempt privately-owned land was 15 percent of all exempt value statewide • The region has a relatively high concentration of privately owned, fully exempt property

  3. Recommended governmental actions: • Revise the tax cap formula to remove disincentives for municipalities that have gained voter approval to bond for open-space protection • Administer and report on the STAR program separately from actual property tax exemption programs • Amend state law to make the impact of exemptions more visible and understandable to citizens • Require annual reporting of newly adopted tax exemptions and their impact by the state comptroller • Adopt and implement a consistent, systematic policy regarding payments made to localities to relieve their burden of both undeveloped and developed exempt properties • Take responsibility at the state level for local effects of state policy

  4. Link to full report: http://library.rpa.org/pdf/RPA-Adding-Value.pdf KT Tobin tobink@newpaltz.edu 845.257.2901

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