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Assessor's Manual, Volume 4, ExemptionAdministration

Exemption Administration Manual - Part 1
New York State Government

Section 4.02 - Art-Cult L Section 20

New York State Cultural Resources Trust
Exemption Code(s):     12440 Year Originally Enacted:     1976, reenacted 1991

Related Statutes:     None

SUMMARY:     Real property owned by the NYS Cultural Resources Trust is wholly exempt from taxation but is liable for special ad valorem levies and special assessments.

  1. ELIGIBILITY REQUIREMENTS:
    1. Ownership Requirements: Property must be owned by the NYS Cultural Resources Trust.
    2. Property Location Requirements: None.
    3. Property Use Requirements: None.
    4. Certification by State or Local Government: None required.
    5. Required Construction Start Date or Other Time Requirement: None.
       
  2. LOCAL OPTION: No.
     
  3. LIMITATION ON EXEMPTION:
     

      General
    Municipal
    Taxes
    School
    District
    Taxes
    Special
    Ad Valorem
    Tax
    Special
    Assessments
    1. Amount No
    limit
    No
    limit
    No
    exemption
    allowed
    No
    exemption
    allowed
    2. Duration No
    limit
    No
    limit
    No
    exemption
    allowed
    No
    exemption
    allowed
    3. Taxing Jurisdiction a. County or County
    Special Districts
    Ex NA Tax Tax
    b. City Ex NA NA Tax
    c. Town or Town
    Special District
    Ex NA Tax Tax
    d. Village Ex NA NA Tax
    e. School District NA Ex NA NA
       Ex-Exempt      Tax-Taxable      NA-Not Applicable
  4. PAYMENTS IN LIEU OF TAXES: None required.
     
  5. CALCULATION OF EXEMPTION:
    1. General Municipal and School District Taxes: 100% of assessed value.
    2. Special Ad Valorem Levies and Special Assessments: No exemption allowed.
       
  6. CODING OF EXEMPTION ON ASSESSMENT ROLL:
    Code Description of Alternative Codes Possible
    12440

    Assessment Roll Section(s): Exempt (ARLM Section 8).

    NOTE: This code should not be used to identify property that is exempt under any of the statutes listed under Similar Exemptions below. For coding of such property, see the Exemption Profile for the statute that applies.

  7. FILING REQUIREMENTS (Owner or Occupant of Property): None.
     
  8. REPORTING REQUIREMENTS (Assessor):None.
     
  9. SIMILAR EXEMPTIONS:
     

    Subject Statute
    Nonprofit organizations (mandatory class) RPTL §420-a
    Nonprofit organizations (permissive class) RPTL §420-b
    NYC Cultural Resources Trust Art-Cult L §21
    State of New York (generally) RPTL §404(1)

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