Assessor's Manual, Volume 4, Exemption Administration
Section 4.04 - McK U Con L Sections 6515, 6562, 6611, 6635, 7181, 7210
Port Authority of New York & New Jersey
|Bridges and tunnels||14640|
|Industrial development projects||17000|
|Urban bus transportation facilities||14630|
|World Trade Center||14610|
Year originally enacted: Above sections of law enacted as follows 1931, 1955, 1962, 1947, 1978, 1979
Related statutes: None.
Summary: The following types of real property owned or used by the Port Authority of New York & New Jersey are wholly exempt from taxation but are liable for special assessments: bridges and tunnels, Narrows bridge, World Trade Center, air terminals, industrial development projects, and urban bus transportation facilities. In addition, industrial development projects are liable for special ad valorem levies.
- Eligibility requirements:
- Ownership requirements: Property must be owned or used by the Port Authority of New York & New Jersey.
- Property location requirements: All types of property, except industrial development and air terminal projects, must be located in New York City.
- Property use requirements: Property must be one of the following types: bridge, tunnel, Narrows bridge, World Trade Center, air terminal, industrial development project, or urban bus transportation facility.
- Certification by state or local government: None required.
- Required construction start date or other time requirement: None.
- Local option: No.
- Limitation on exemption:
*Applies only to industrial development projects; other types of projects are not subject to special ad valorem levies.
Limitation on exemption General Municipal Taxes School District Taxes Special Ad Valorem Levies Special Assessments 1. Amount No limit No limit No exemption allowed* No exemption allowed 2. Duration No limit No limit No exemption allowed* No exemption allowed 3. Taxing Jurisdiction a. County or County Special Districts Ex NA Tax* Tax b. City Ex NA NA Tax c. Town or Town Special District Ex NA Tax* Tax d. Village Ex NA NA Tax e. 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:
Special Ad Valorem Levies: Industrial development projects - no exemption allowed. Other projects - not subject to such levies.
Special assessments: No exemption allowed.
- Coding of exemption on assessment roll:
Coding of exemption on assessment roll Code Description of Alternative Codes Possible 14600 Narrows bridge 14610 World Trade Center 14620 Air terminals 14630 Urban bus transportation 14640 Bridges and tunnels 17000 Industrial development projects
Assessment roll section(s): Exempt (RPS § 8).
Note: These codes 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:
Similar exemptions Subject Statute Public authorities RPTL §412 & Pub Auth L
Please send general questions or comments to ORPTS.