Assessor's Manual, Volume 4, ExemptionAdministration
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Exemption Code(s): 13960 Year Originally Enacted: 1970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.
- Ownership Requirements: Property must be owned by the NYC Off-Track Betting Corporation.
- LOCAL OPTION: No.
- LIMITATION ON EXEMPTION:
General
Municipal
TaxesSchool
District
TaxesSpecial
Ad Valorem
TaxSpecial
Assessments1. Amount No
limitNo
limitNA No
exemption
allowed2. Duration No
limitNo
limitNA No
exemption
allowed3. Taxing Jurisdiction
a. CityEx NA NA Tax b. School District NA Ex NA NA Ex-Exempt Tax-Taxable NA-Not Applicable - PAYMENTS IN LIEU OF TAXES: 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
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