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Department of Taxation and Finance

Assessor's Manual, Volume 4, Exemption Administration

Exemption Administration Manual - Part 1
New York State Government

Section 4.02 - McK U Con L Section 7421

New York State Medical Care Facilities Finance Agency

Exemption code(s): 12450  Year originally enacted: 1973

Related Statutes: Pub Hel L Articles 28-A, 28-B McK U Con L Title 13-A

Summary: Real property owned by the New York State Medical Care Facilities Finance Agency or under its control, possession, or supervision that is used for the construction or improvement of hospitals or other health-related facilities or for the provision of funds for such construction/improvement by certain other companies or districts (see Property Use Requirements below) 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 agency or under its control, possession, or supervision.
    2. Property location requirements: None.
    3. Property use requirements: Property must be used (1) for the construction or improvement of hospitals or other health-related facilities by the agency or by the Facilities Development Corporation acting as its agent or (2) for facilities that provide funds for the construction or improvement of hospitals or other health-related facilities (a) by nursing home companies created pursuant to Pub Hel L Article 28-A (Nursing Home Companies), (b) by hospitals and nonprofit medical corporations created pursuant to Pub Hel L Article 28-B (Hospital Mortgage Loan Construction), or (c) by municipalities constituting social services districts pursuant to the provisions of McK U Con L Title 13-A (Facilities Development Corporation).
    4. Certification by state or local government: None.
    5. Required construction start date or other time requirement: None.
  2. Local option: No.
  3. Limitation on exemption:
     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:
     Coding of exemption on assessment roll
    Code Description of Alternative Codes Possible
    12450  

    Assessment roll section(s): Exempt (ARLM Section 8).

    Note: This code should not be used to identify (1) property that is owned by New York State and exempt under RPTL §404(1), (2) municipally owned property exempt under any of the subsections of RPTL §406, or (3) 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:
     Similar exemptions
    Subject Statute
    Facilities Development Corporation McK U Con L §4413
    Health and Hospitals Corporation, NYC McK U Con L §7400
    Housing Finance Agency, NYS PHFL §53
    Public authorities RPTL §412 & Pub Auth L
    State of New York (generally) RPTL §404(1)

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