N.Y. County Law § 233-b

* § 233-b. Payment in lieu of taxes for property acquired for park or\nrecreational purposes. The county of Nassau having acquired certain\nproperty for park or recreational purposes in the Lido Beach-Point\nLookout area shall have the power and authority with respect to such\nproperty, to pay or transfer out of any county funds available to it,\nannual sums in lieu of taxes to the affected taxing jurisdictions, in\norder that none of such taxing jurisdiction shall suffer an inequitable\nloss of revenue by virtue of such park or recreational program; provided\nfurther, that the amount so paid or transferred for any year shall not\nexceed the sum last levied for the benefit of such taxing jurisdiction\nas an annual tax on such property prior to the time of its acquisition\nfor such purpose or purposes.\n As used in this section, the term "taxing jurisdiction" means any\nmunicipal corporation or district corporation, including any school\ndistrict or any special district, having the power to levy and collect\ntaxes and benefit assessments upon real property in the Lido Beach-Point\nLookout area, or in whose behalf such taxes or benefit assessments may\nbe levied or collected.\n * NB Expires July 1, 2030\n