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Assessor's Manual, Volume 4, ExemptionAdministration

Exemption Administration Manual - Part 2
Industrial, Commercial, and Public Service

Section 4.06 - RPTL Section 485-c

Steel Manufacturing Property
(In cities with a population of 50,000 or more)

Exemption Code(s): 27550 Year Originally Enacted: 1980

Related Statutes: Tax L Article 0-A (Franchise Tax on Business Corporations)

SUMMARY: Certain property that is (1) owned by a corporation taxable under Article 9-A of the Tax Law, (2) located in a city with a population of 50,000 or more, and (3) used in the manufacture of steel is exempt from taxation, but is liable for special ad valorem levies and special assessments. The exemption is not limited in amount or duration.

  1. ELIGIBILITY REQUIREMENTS:
    1. Ownership Requirements: Property must be owned by a corporation taxable under Article 9-A of the Tax Law.
       
    2. Property Location Requirements: Property must be located in a city having a population of 50,000 or more.
       
    3. Property Use Requirements: Exemption is limited to the following types of property:
      1. Blast furnaces, open hearth furnaces, soaking pits, and coke ovens used in the manufacture of steel.
      2. Tanks, towers, and stills used in processing gases and liquids produced by the above-mentioned coke ovens.
         
    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
    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 Ex
    c. Town or Town
    Special District
    NA NA NA NA
    d. Village NA NA NA NA
    e. 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
    27550     

    Assessment Roll Section(s): Exempt (ARLM Section 8).

    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.

  7. FILING REQUIREMENTS (Owner or Occupant of Property): None.
     
  8. REPORTING REQUIREMENTS (Assessor): None.
     
  9. SIMILAR EXEMPTIONS: None.

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