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Assessor's Manual, Volume 4, ExemptionAdministration

Exemption Administration Manual - Part 1
Municipal Governments

Section 4.03 - ED L Section 492

City of Yonkers Educational Construction Fund

Exemption Code(s): 13980 Year Originally Enacted: 1971

Related Statutes: Pub Hsng L §3(15,16)

SUMMARY: Real property that (1) is owned by the City of Yonkers Educational Construction Fund or under its jurisdiction, control, or supervision, (2) is located in the City of Yonkers, and (3) is used for the construction and/or improvement of school buildings in combination with other compatible nonschool purposes is wholly exempt from taxation, but liable for special assessments. Payments in lieu of taxes are required to be provided for in leases and subleases of nonschool portions of any combined occupancy structures as described in Payments in Lieu of Taxes below.

  1. ELIGIBILITY REQUIREMENTS:
    1. Ownership Requirements: Property must be owned by the fund or under its jurisdiction, control, or supervision.
    2. Property Location Requirements: Property must be located in the City of Yonkers.
    3. Property Use Requirements: Land and improvements must be used for the construction, rehabilitation, or improvement of school buildings in combination with other compatible nonschool uses.
    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
    NA No
    exemption
    allowed
    2. Duration No
    limit
    No
    limit
    NA No
    exemption
    allowed
    3. Taxing Jurisdiction
    a. City
    Ex NA NA Tax
    b. School District NA Ex NA NA
      Ex-Exempt      Tax-Taxable      NA-Not Applicable

     
  4. PAYMENTS IN LIEU OF TAXES: Leases and subleases of exempted nonschool portions, and any corresponding property rights, of combined occupancy structures must include provision for payments in lieu of taxes. Such payments must be equal to the amount which would normally be paid as taxes (1) for such leased or subleased property, (2) for any subsequent nonschool improvements constructed thereon, and (3) for any such property rights.

    Should such lease or sublease be held by the Yonkers City Housing Authority, the amount of the payments in lieu of taxes must be agreed upon (1) by the City of Yonkers Educational Construction Fund, (2) by the City of Yonkers, and (3) by the Yonkers City Housing Authority, and approved (1) by the commissioner of the NYS Division of Housing and Community Renewal -- if such project meets the Public Housing Law definition (3(16)) of a state project or (2) by the federal government -- if such project meets the Public Housing Law definition (3(15)) of a federal project.

    Since they are not collected by the tax collector, payments in lieu of taxes should not be entered on the tax roll. Such payments are collected in the same manner as are other payments due the municipality under contract.

  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
    13980   

    Assessment Roll Section(s): Exempt.

    NOTE: This code should not be used to identify (1) property owned by the City of Yonkers and exempt under RPTL §406(1), (2) property owned by a school district or a Board of Cooperative Educational Services and exempt under RPTL §408, 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
    Municipal corporations RPTL §406(1)
    Public authorities RPTL §412 & Pub Auth L

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