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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-d

Waterworks Corporations (New York City)

Exemption Code(s): 27500 Year Originally Enacted: 1985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.

  1. ELIGIBILITY REQUIREMENTS:
    1. Ownership Requirements: Property must be owned by a waterworks corporation subject to the provisions of the Public Service Law (Article 4-B).
       
    2. Property Location Requirements: Property must be located in New York City.
       
    3. Property Use Requirements: Property must be used exclusively for the sale, supply, and distribution of water for domestic, commercial, and public purposes.
       
    4. Certification by State or Local Government: None required.
       
    5. Required Construction Start Date or Other Time Requirement:  None.
       
  2. 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.
     
  3. LIMITATION ON EXEMPTION:
         General
    Municipal
    Taxes
    School
    District
    Taxes
    Special
    Ad Valorem
    Tax
    Special
    Assessments
    1. Amount Local
    option
    may limit
    Local
    option
    may 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

    *If allowed by local option.

  4. PAYMENTS IN LIEU OF TAXES: None required.
     
  5. CALCULATION OF EXEMPTION:
    1. General Municipal and School District Taxes: % of assessed value allowed by local law.
    2. Special Ad Valorem Levies and Special Assessments: No exemption allowed.
       
  6. CODING OF EXEMPTION ON ASSESSMENT ROLL:
    Code Description of Alternative Codes Possible
    27500  

    Assessment Roll Section(s): 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.

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

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