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Assessor's Manual, Volume 4, ExemptionAdministration

Exemption Administration Manual - Part 1
New York State Government

Section 4.02 - McK U Con L Section 7421

NYS 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Exemption Code(s):     12450 Year Originally Enacted:     1973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 NYS 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:
         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
    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:
    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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