Title RPT, Real Property Tax

§ 489-bbb. Industrial and commercial incentive board. Any city of one million or more persons may, by local law, establish an industrial and commercial incentive board to consist of the deputy mayor for, economic policy and development, who shall be chairman of the board, the co…

§ 489-bbbb. Power to enact local law; real property tax exemption; deferral of tax payments. Any city having a population of one million or more, acting through its local legislative body, is authorized and empowered to determine that incentives in the form of exemption from or …

§ 489-bbbbb. Real property tax exemption. 1. Within the mixed-use construction exemption area specified in subdivision twelve of section 489-aaaaa of this title, the following benefits shall be available to qualified recipients: A recipient who, following the effective date of a…

§ 489-bbbbbb. Power to enact local law; industrial and commercial real property tax abatement. 1. Authority to enact local law. Any city having a population of one million or more, acting through its local legislative body, is authorized and empowered to determine that incentive…

§ 489-c. Assessment of real property of railroads. 1. The assessor in each city, town and village and in each county having a county department of assessment shall annually assess all real property of railroad companies situated in such city, town, village or county, as the case…

§ 489-cc. Assessment of real property of railroads. 1. The assessor in each city, town and village and in each county having a county department of assessment shall annually assess all real property of railroad companies situated in such city, town, village or county, as the cas…

§ 489-ccc. Functions, powers and duties of the board; annual designation of exemption areas and restricted commercial uses. 1. The members of the board shall have the following functions, powers and duties: (a) to receive and review applications for certificates of eligibility p…

§ 489-cccc. Temporary commercial incentive area boundary commission; classes of area; excluded areas. 1. Any city enacting a local law pursuant to section four hundred eighty-nine-bbbb of this title shall establish a temporary commercial incentive area boundary commission to con…

§ 489-ccccc. Eligibility for benefits. 1. A recipient of a certificate of eligibility with an effective date of July first, nineteen hundred ninety-five or after must make one-half the minimum required expenditure within eighteen months of the effective date of such certificate,…

§ 489-cccccc. Eligibility for benefits. 1. Time limit for meeting minimum required expenditure. Applicants must meet the appropriate minimum required expenditure as provided in subdivision three of section four hundred eighty-nine-bbbbbb of this title relating to the abatement f…

§ 489-d. Exemption of railroad real property from taxation. 1. Subsidized railroad real property shall be exempt from taxation. The exemption shall be granted each year only upon (a) application by the owner of said property on a form prescribed by the commissioner and (b) submi…

§ 489-dd. Exemption of railroad real property from taxation. 1. Subsidized railroad real property shall be exempt from taxation. The exemption shall be granted each year only upon (a) application by the owner of said property on a form prescribed by the commissioner and (b) subm…

§ 489-ddd. Real property tax exemption. 1. A real property tax exemption pursuant to this title shall be granted to an applicant who, within a period of thirty-six months, or following an extension pursuant to section four hundred eighty-nine-hhh of this title within a period of…

§ 489-dddd. Eligibility for benefits. 1. A recipient of a certificate of eligibility with an effective date of June thirtieth, nineteen hundred ninety-two or before must make one-half the minimum required expenditure within eighteen months of the effective date of such recipient…

§ 489-ddddd. Application for certificate of eligibility. 1. Application for a certificate of eligibility pursuant to this title may be made on or after July first, nineteen hundred ninety-five and continuing until June thirtieth, nineteen hundred ninety-nine, provided, however, …

§ 489-dddddd. Applying for benefits. 1. Application. (a) Application for benefits pursuant to this title may be made immediately following the effective date of a local law enacted pursuant to this title and continuing until March first, two thousand twenty-nine. (b) Application…

§ 489-e. Railroad ceiling. For the purpose of determining the extent to which railroad real property shall be exempt under this title, a railroad ceiling for the railroad real property other than subsidized railroad real property of each railroad company situated in each assessi…

§ 489-ee. Railroad ceiling. A railroad ceiling for the railroad real property other than subsidized railroad real property of each railroad company situated in each assessing unit shall be established annually by the commissioner as follows: 1. Determine (a) the average railway …

§ 489-eee. Applications for certificates of eligibility. 1. Applications for a certificate of eligibility pursuant to this title shall be submitted for preliminary approval to the office for economic development commencing immediately after the effective date of a local law enac…

§ 489-eeee. Application for certificate of eligibility. 1. Application for a certificate of eligibility pursuant to this title may be made immediately following the effective date of a local law enacted pursuant to this title and continuing until June thirtieth, two thousand eig…

§ 489-eeeee. Reporting requirement; termination of benefits. 1. Upon approval of the department of buildings of the plans submitted in connection with the building permit and any amendments to such plans, the recipient shall file with the department of finance a narrative descri…

§ 489-eeeeee. Reporting requirement. 1. Continuing use. For the duration of the benefit period, the recipient of benefits shall file biennially with the department, on or before the appropriate taxable status date, a statement of the continuing use of such property and any chang…

§ 489-f. Relationships among elements used in computation of railroad ceiling. In order to effectuate the legislative policy that the amount of exemptions from real property taxation granted to railroads should be related to their individual rates of earnings, and in order to pr…

§ 489-ff. Average railway revenues and expenses. 1. The average railway revenues shall be determined for each railroad company as follows: (a) Ascertain so far as may be practicable the revenues which such railroad company is entitled to receive from transportation service and f…

§ 489-fff. Approval of tax exemption. On completion of the reconstruction or construction work the applicant shall notify the board in writing of said completion. The board shall determine the eligibility of the applicant for the tax exemption as provided in subdivision one of s…

§ 489-ffff. Reporting requirement; termination of benefits. 1. Upon approval by the department of buildings of the plans submitted in connection with the building permit and any amendments to such plans, the recipient shall file with the department of finance a narrative descrip…

§ 489-fffff. Conversion of property. 1. Any recipient whose property is the subject of a certificate of eligibility pursuant to this title, and who converts square footage within such property from the residential and commercial uses authorized pursuant to this title where such …

§ 489-ffffff. Conversion of property. 1. Conversion from commercial to industrial use. Where a property has been granted benefits for commercial or renovation construction work, but such property is used as industrial property before the benefits period expires, such property sh…

§ 489-g. System reproduction cost. 1. The system reproduction cost of each railroad company shall be determined by ascertaining so far as may be practicable for the property of each railroad company used by it for transportation purposes and owned by or leased to it constituting…

§ 489-gg. Ratio. The commissioner shall compute to the nearest thousandth of one percent a ratio for each railroad company by dividing its average railway expenses by its average railway revenues; provided, however, that if a railroad company shall have operated for less than on…

§ 489-ggg. Continuation of tax exemption; termination of tax exemption. The tax exemption approved by the board shall continue in accordance with this title, provided that the applicant files an annual certificate of continuing use stating that the structure and property continu…

§ 489-gggg. Conversion of property. 1. Any recipient whose property is the subject of a certificate of eligibility for commercial or renovation construction work, and who, prior to the expiration of the benefit period, uses such property as industrial property, shall continue to…

§ 489-ggggg. Administration of the benefit program. The department of finance of any city having a population of one million or more persons shall have, in addition to any other functions, powers and duties which have been or may be conferred on it by law, the following function…

§ 489-gggggg. Temporary commercial incentive area boundary commission; designation of special commercial abatement areas; excluded and renovation areas. 1. Commission members. Any city enacting a local law pursuant to section four hundred eighty-nine-bbbbbb of this title shall e…

§ 489-h. Average railway earnings. 1. The average railway earnings shall be determined for each railroad company as follows: (a) Ascertain so far as may be practicable the revenues which such railroad company is entitled to receive from transportation service and from rents from…

§ 489-hh. Economic factor. (a) In accordance with the policy of reflecting the effect of the rate of earnings of a railroad company upon the taxable value of its railroad property, an economic factor for each railroad company shall be determined in relation to its ratio computed…

§ 489-hhh. Extension of time for completion. Where an applicant has received a certificate of eligibility but has not completed or will not be able to complete the construction or reconstruction work within thirty-six months, the board shall, upon application, extend to forty-ei…

§ 489-hhhh. Administration of the benefit program. 1. The department of finance of any city enacting a local law pursuant to section four hundred eighty-nine-bbbb of this title shall have, in addition to any other functions, powers and duties which have been or may be conferred …

§ 489-hhhhh. Tax lien; interest rate. All taxes plus interest\nrequired to be paid retroactively pursuant to this title shall\nconstitute a tax lien as of the date it is determined such taxes and\ninterest are owed. All interest shall be calculated from the date the\ntaxes would…

§ 489-hhhhhh. Administration of the benefit program. The department shall have the following additional functions, powers and duties: 1. To require that any documents submitted in support of or as part of an application be certified; 2. To audit documents submitted by an applica…

§ 489-i. Earnings ratio. The commissioner shall determine the earnings ratio for each railroad company by ascertaining the ratio of its average railway earnings to its system reproduction cost, computed to the nearest hundredth of one per cent.

§ 489-ii. Local reproduction cost. 1. The commissioner shall determine the local reproduction cost for each railroad company in each assessing unit as follows: (a) Ascertain in each assessing unit the cost of reproduction new less depreciation of the railroad real property other…

§ 489-iii. Prior certificates of eligibility. Any project for which a certificate of eligibility has been approved by the industrial and commercial incentive board prior to the enactment of this section shall be eligible for a tax exemption computed according to the tax exemptio…

§ 489-iiii. Code violations; suspension or termination of benefits. A local law enacted pursuant to this title may provide that benefits pursuant to this title shall be suspended or terminated if the recipient is found to have failed to cure violations of the applicable building…

§ 489-iiiii. Penalties for non-compliance, false statements and omissions. 1. The department of finance may deny, reduce, suspend, terminate or revoke any exemption from tax payments pursuant to this title whenever (a) a recipient fails to comply with the requirements of this ti…

§ 489-iiiiii. Code violations; suspension, termination or revocation of benefits. 1. Abatement benefits shall be suspended, terminated or revoked if the recipient is found to have failed to cure violations of applicable building, fire, or air pollution control codes on the prope…

§ 489-j. Exemption factor. (a) In accordance with the policy of granting increasingly greater exemptions as the rate of earnings of a railroad company declines, the exemption factor for each railroad company shall be determined in accordance with its earnings ratio. For each rai…

§ 489-jj. State equalization rate. 1. In determining railroad\nceilings, the commissioner shall apply the latest state equalization\nrate for the appropriate assessing unit, except that, if a special\nequalization rate has been established as provided in subdivision two of\nthis…

§ 489-jjjj. Tax lien; interest rate. 1. All taxes plus interest\nrequired to be paid retroactively pursuant to this title shall\nconstitute a tax lien as of the date it is determined such taxes and\ninterest are owed. All interest shall be calculated from the date the\ntaxes wou…

§ 489-jjjjjj. Penalties for non-compliance, false statements and omissions. Denial, reduction, suspension, termination or revocation. The department may deny, reduce, suspend, terminate or revoke any abatement benefits where: 1. A recipient fails to comply with the requirements …