Exemption Administration Manual, Part 1: Municipal Governments—Section 4.03 - ED L Section 6282: City University Construction Fund (NYC)
Section 4.03 - ED L Section 6282: City University Construction Fund (NYC)
Year originally enacted:
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.
Property must be owned by the City University Construction Fund.
Property location requirements:
Property must be located in New York City.
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.
Certification by state or local government:
Required construction start date or other time requirement:
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 of taxes
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|
Assessment Roll Section(s):
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.
Filing requirements (owner or occupant of property)
Reporting requirements (assessor)
|Educational Construction Fund, NYC||Ed L §468|
|Municipal corporations||RPTL §406(1)|
|Public authorities||RPTL §412 & Pub Auth L|
Please send general questions or comments to ORPTS.