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Year originally enacted: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
| 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
| 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
| Subject | Statute |
|---|---|
| Regional off-track betting corporations | Racing L §513 |
| Top of Page | | Table of Contents| | Next Page| | Assessors' Manuals |
Please send general questions or comments to ORPTS.
