N.Y. Real Property Tax Law Section 561
Payments in lieu of taxes

  • change of assessment
  • effective date

Notwithstanding any other provision of law, for any payment in lieu of taxes agreement entered into on or after the effective date of this section, when the assessment of a property making payments in lieu of taxes is challenged through the grievance process, any reduction in payments in lieu of taxes made to a school district resulting from such challenge shall not take effect until the following taxable status year.

Source: Section 561 — Payments in lieu of taxes; change of assessment; effective date, https://www.­nysenate.­gov/legislation/laws/RPT/561 (updated Jan. 3, 2020; accessed Jun. 22, 2024).

Jun. 22, 2024

Last modified:
Jan. 3, 2020

§ 561’s source at nysenate​.gov

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