Section 15-2115. Taxation of real estate  


Latest version.
  • Lands  owned  by  the state and acquired pursuant to the provisions of
      title 21 of this article, exclusive of the improvements erected  thereon
      by  the  regulating  districts,  shall be assessed and taxed in the same
      manner as state lands subject to taxation pursuant to title 2 of article
      5 of the Real Property Tax Law, provided, however,  that  the  aggregate
      assessed valuations of such lands in any town shall not be reduced below
      the  aggregate assessed valuations thereof with the improvements thereon
      at the time of  their  acquisition  by  the  regulating  districts,  and
      provided  further  that  in case of a general increase in assessments in
      any town the assessed valuations of the lands and  improvements  at  the
      time of their acquisition by the regulating districts shall be deemed to
      have  been  increased  proportionately  with  the increase of other real
      property in such tax district. The taxes levied thereon shall be paid by
      the river  regulating  district  under  whose  authority  the  land  was
      acquired.