Exemption Administration Manual, Part 1: Municipal Governments—Section 4.03 - Racing L Section 617: New York City Off-Track Betting Corporation
Section 4.03 - Racing L Section 617: New York City Off-Track Betting Corporation
Year originally enacted:
Real property owned by the New York City Off-Track Betting Corporation is wholly exempt from taxation but is liable for special assessments.
Property must be owned by the NYC Off-Track Betting Corporation.
Property location requirements:
Property must be located in New York City.
Property use requirements:
Property must be used for off-track pari-mutuel betting on horse races.
Certification by state or local government:
Required construction start date or other time requirement:
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|
Payments in lieu payments
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|
Assessment roll section(s):
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)
Reporting requirements (assessor)
|Regional off-track betting corporations||Racing L §513|
Please send general questions or comments to ORPTS.