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Assessor Manuals, Exemption Administration

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Year originally enacted: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.

Eligibility requirements

Ownership requirements:

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:

None required.

Required construction start date or other time requirement:

None.

Local option

No.

Limitation on exemption

 Limitation on exemption by amount, duration, and taxing jurisdiction
  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

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

 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.

Filing requirements (owner or occupant of property)

None.

Reporting requirements (assessor)

None.

Similar exemptions

 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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