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Assessor's Manual, Volume 4, ExemptionAdministration

Exemption Administration Manual - Part 1
Municipal Governments

Section 4.03 - ED L Section 6282

City University Construction Fund (NYC)

Exemption Code(s): 13930 Year Originally Enacted: 1966

Related Statutes: None

SUMMARY: Real property that (1) is owned by the City University Construction Fund, (2) is located in New York City, and (3) is used to provide facilities for the City University of New York or to support the educational purposes of such university is wholly exempt from taxation, but liable for special assessments.

  1. ELIGIBILITY REQUIREMENTS:
    1. Ownership Requirements: Property must be owned by the City University Construction Fund.
       
    2. Property Location Requirements: Property must be located in New York City.
       
    3. Property Use Requirements: Land and improvements must be used (1) to provide facilities for the City University of New York or (2) to support the educational purposes of such university.
       
    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:
      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 OF TAXES: 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:
    Code Description of Alternative Codes Possible
    13930  

    Assessment Roll Section(s): Exempt.

    NOTE: This code should not be used to identify (1) property owned by New York City and exempt under RPTL §406(1) or (2) 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:
    Subject Statute
    Educational Construction Fund, NYC Ed L §468
    Municipal corporations RPTL §406(1)
    Public authorities RPTL §412 & Pub Auth L

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