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Assessor Manuals, Exemption Administration

Exemption Administration Manual—Part 1: Municipal Governments

Section 4.03 - Racing L Section 617: New York City Off-Track Betting Corporation

Exemption code(s): 

13960 

Year originally enacted:

1970

Related statutes:

None

Summary: 

Real property owned by the New York City Off-Track Betting Corporation is wholly exempt from taxation but is liable for special assessments.

Eligibility requirements

Ownership requirements:

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:

None required.

Required construction start date or other time requirement:

None. 

Local option

No.

Limitation on exemption

 Limitation on exemption by amount, duration, and taxing jurisdiction
   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

None required.

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

 Coding of exemption on assessment roll
Code Description of alternative codes possible
13960  

Assessment roll section(s):

Exempt.

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)

None. 

Reporting requirements (assessor)

None.

Similar exemptions

 Similar exemptions
Subject Statute
Regional off-track betting corporations Racing L §513

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