2016 New York Laws
ENV - Environmental Conservation
Article 15 - WATER RESOURCES
Title 21 - (15-2101 - 15-2141) RIVER REGULATION BY STORAGE RESERVOIRS
15-2115 - Taxation of real estate.

15-2115. Taxation of real estate.
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.