Section 533. Certain conservation easements created pursuant to title three of article forty-nine of the environmental conservation law hereafter acquired by the state within the Adirondack or Catskill parks, as those areas are defined in such law and lands within the watershed of Hemlock and Canadice lakes in the towns of Livonia, Conesus, West Sparta and Springwater in Livingston county, the towns of Canadice and Richmond in Ontario county and the town of Wayland in Steuben county, and lands within the Tug Hill region, as defined in article thirty-seven of the executive law, shall be subject to taxation for all purposes

Any
  conservation  easement  created  pursuant  to  title  three  of  article
  forty-nine  of  the environmental conservation law hereafter acquired by
  the state within the Adirondack or Catskill parks, as  those  areas  are
  defined  in  such  law  or  acquired  by  the  state on lands within the
  watershed of Hemlock  and  Canadice  lakes  in  the  towns  of  Livonia,
  Conesus,  West Sparta and Springwater in Livingston county, the towns of
  Canadice and Richmond in Ontario county  and  the  town  of  Wayland  in
  Steuben  county,  or  acquired by the state on lands within the Tug Hill
  region as defined in article thirty-seven of the executive law, shall be
  subject to taxation for all purposes. Any common law  easement  acquired
  on  or  before  January  first, nineteen hundred ninety by the state for
  conservation purposes within the Adirondack or Catskill parks, as  those
  areas  are  defined  in  the  environmental  conservation  law, shall be
  subject to taxation for all purposes. The value of such interests  shall
  be  equivalent  to the change, if any, in the value of the lands subject
  to the easement. The procedures  set  forth  in  sections  five  hundred
  forty, five hundred forty-two, five hundred forty-three and five hundred
  forty-four  of  this  title  shall  govern the assessment and payment of
  taxes thereon. If the acquisition by or conveyance to the state  of  any
  such  easement  is  determined  to  be  void  by  any court of competent
  jurisdiction, tax payments on such easement paid by the state  prior  to
  the  date  of  such determination shall be retained by the recipient and
  shall be deemed to have been a grant-in-aid by the state.