Assessor Manuals, Exemption Administration: Art-Cult L Section 20
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Year originally enacted: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.
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
| 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 | ||||
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
| 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
| 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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Please send general questions or comments to ORPTS.
Updated:
