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Department of Taxation and Finance

Assessor's Manual, Exemption Administration: RPTL Section 485-d

Exemption Administration Manual—Part 2: Industrial, Commercial, and Public Service

Section 4.06, RPTL Section 485-d: Waterworks Corporations (New York City)

Exemption code:

27500

Year originally enacted: 1985

Related statutes: Pub Serv L Article 4-B

Summary:

If allowed by local option, real property which (1) is located in New York City, (2) is owned by a waterworks corporation subject to the provisions of the Public Service Law, and (3) is used exclusively for the sale, supply, and distribution of water for domestic, commercial, and public purposes is wholly or partially exempt from taxation. However, such property is liable for special assessments.

Eligibility requirements

Ownership requirements:

Property must be owned by a waterworks corporation subject to the provisions of the Public Service Law (Article 4-B).

Property location requirements:

Property must be located in New York City.

Property use requirements:

Property must be used exclusively for the sale, supply, and distribution of water for domestic, commercial, and public purposes.

Certification by state or local government:

None required.

Required construction start date or other time requirement:

None.

Local option

Yes—The City of New York may choose (1) whether or not to allow the exemption and (2) whether to allow fully or partially the exemption authorized by state law. This option to exempt must be exercised through adoption of a local law.

Limitation on exemption

Limitation on exemption by amount, duration, and taxing jurisdiction
Type of limitation General municipal taxes School district taxes Special ad valorem levies Special assessments
Amount Local option may limit Local option may limit Not applicable No exemption allowed
Duration No limit No limit Not applicable No exemption allowed
Taxing jurisdiction: city Exempt* Not applicable Not applicable Taxable
Taxing jurisdiction: school district Not applicable Exempt* Not applicable Not applicable

*If allowed by local option.

Payments in lieu of taxes

None required.

Calculation of exemption

General municipal and school district taxes:

% of assessed value allowed by local law.

Special ad valorem levies and special assessments:

No exemption allowed.

Coding of exemption on assessment roll

Code: 27500

Assessment roll section

Exempt.

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.

Filing requirements (owner or occupant of property)

None.

Reporting requirements (assessor)

None.

Similar exemptions

Statutes based on municipality and school district
Subject Statute
Municipal corporations (aqueducts in NYC water supply system) RPTL §406(4)
Municipal corporations (property within corporate limits held for public use) RPTL §406(1)
Special districts (property within district boundaries) RPTL §410

Please send general questions or comments to ORPTS.

Updated: