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Assessor's Manual, Volume 4, ExemptionAdministration

Exemption Administration Manual - Part 1
New York State Government

Section 4.02 - Ed L Section 657

NYS Higher Education Services Corporation

Exemption Code(s):     12430 Year Originally Enacted:     1957

Related Statutes:     None.

SUMMARY:     Real property owned by the NYS Higher Education Services Corporation is wholly exempt from taxation, special ad valorem levies, and special assessments.

  1. ELIGIBILITY REQUIREMENTS:
    1. Ownership Requirements:     Property must be owned by the NYS Higher Education Services Corporation.
    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
    limit
    No
    limit
    2. Duration No
    limit
    No
    limit
    No
    limit
    No
    limit
    3. Taxing Jurisdiction a. County or County
    Special Districts
    Ex NA Ex Ex
    b. City Ex NA NA Ex
    c. Town or Town
    Special District
    Ex NA Ex Ex
    d. Village Ex NA NA Ex
    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: 100% of assessed value or other basis of assessment.
       
  6. CODING OF EXEMPTION ON ASSESSMENT ROLL:
    Code Description of Alternative Codes Possible
    12430

    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
    Public authorities RPTL §412 & Pub Auth L
    State of New York (generally) RPTL §404(1)

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