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Department of Taxation and Finance

Assessor's Manual, Volume 4, 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Exemption code(s): 13960  Year originally enacted: 1970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.

  1. Eligibility requirements:
    1. Ownership requirements: Property must be owned by the NYC Off-Track Betting Corporation.
    2. Property location requirements: Property must be located in New York City.
    3. Property use requirements: Property must be used for off-track pari-mutuel betting on horse races.
    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:
     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 payments: 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
    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.

  7. Filing requirements (owner or occupant of property): None. 
  8. Reporting requirements (assessor): None.
  9. Similar exemptions:
     Similar exemptions
    Subject Statute
    Regional off-track betting corporations Racing L §513

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