New York Laws
Title 11-C - Capital District Transportation Authority
1318 - Agreements Relating to Payment in Lieu of Taxes.

§ 1318. Agreements relating to payment in lieu of taxes. To the end
that municipal corporations, counties and school districts may not
suffer undue loss of taxes or assessments:

If the authority acquires property for non-transportation purposes
(e.g. for future transportation purposes but not to be so used
immediately) the authority except as hereinafter provided, shall pay to
the participating county and/or city, town or school district where the
property is located, annually, in lieu of taxes, a sum equal to the sum
last paid as taxes upon the property prior to the time of its
acquisition by the authority. Should such property be subsequently
developed and improved but still remain unused for transportation
purposes, it shall during such period of disuse for transportation be
subject to assessment, at the prevailing method of determining
assessments, by the county and/or city and/or school district and the
authority shall, based on such assessment, annually, in lieu of taxes,
pay to the county and/or city and/or school district an amount fixed by
it.

If the authority acquires property for transportation purposes but
subsequently uses such property for non-transportation purposes, then
the authority shall be required, except as hereinafter provided, to pay
annually in lieu of taxes to the participating county and/or city and/or
school district wherein such property is located, an amount equal to the
sum which the said county and/or city and/or school district would
ordinarily be imposed as taxes, pursuant to the prevailing method of
determining assessments.

Properties acquired by the authority for transportation and used as
such, shall not be subject to the payment of any taxes except that the
authority shall pay such property special benefit assessments on the
property if it is located in an existing special benefit district.

The authority may, in its discretion, enter into agreements to pay
annual sums in lieu of taxes in respect of any real property which is
owned by the authority and exempt from taxation pursuant to section
thirteen hundred sixteen of this title to the participating county and
for city, town or school district in which the property is located,
provided, however, that the amount so paid for any year upon such
property shall not exceed the sum last paid as taxes on such property to
such county, city, town or school district prior to the time of its
acquisition by the agency.