Assessor's Manual, Volume 4, ExemptionAdministration
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Exemption Code(s): 12440 Year Originally Enacted: 1976, reenacted 1991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.
- Eligibility requirements:
- Ownership requirements: Property must be owned by the NYS Cultural Resources Trust.
- Property location requirements: None.
- Property use requirements: None.
- Certification by state or local government: None required.
- Required construction start date or other time requirement: None.
- Local option: No.
- Limitation on exemption:
Limitation on exemption General
1. Amount No
2. Duration No
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
- Payments in lieu of taxes: None required.
- Calculation of exemption:
- General municipal and school district taxes: 100% of assessed value.
- Special Ad Valorem Levies and special assessments: No exemption allowed.
- Coding of exemption on assessment roll:
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.
- Filing requirements (owner or occupant of property): None.
- Reporting requirements (assessor): None.
- Similar exemptions:
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)
Please send general questions or comments to ORPTS.