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Assessor's Manual, Volume 4, ExemptionAdministration

Exemption Administration Manual - Part 2
Multiple Dwellings

Section 4.07 - McK U Con L Section 6272 (Housing)

New York State Urban Development Corporation (Housing Project) McK U Con L Section 6272 (Housing)

Exemption Code(s): 18130 Year Originally Enacted: 1968

Related Statutes: None.

SUMMARY:Housing projects owned or under the control of the NYS Urban Development Corporation (UDC) that are located and used as required (see Property Location and Property Use Requirements below) are wholly exempt from taxation and special ad valorem levies, but are liable for special assessments.

This exemption also applies to UDC subsidiaries, except those eligible for exemption under the following statutes: RPTL §422 (not-for-profit housing companies), PHFL §33(1)(c) (limited- profit (Mitchell-Lama) housing companies), PHFL §93(6) (limited-dividend housing companies), and PHFL §577(3) (housing development fund companies). For a description of the exemption allowed for each of these subsidiaries, see the Exemption Profile for the statute that applies.

  1. ELIGIBILITY REQUIREMENTS:
    1. Ownership Requirements: Property must be owned by the UDC or one of its subsidiaries or under its control, possession, or supervision.
    2. Property Location Requirements: Project must be located (1) in an area that exhibits a need for safe and sanitary housing accommodations for persons and families of low income which private industry cannot provide or (2) in an area reasonably accessible to such areas.
    3. Property Use Requirements: Property must be used to provide safe and sanitary housing accommodations, and incidental facilities, for persons and families of low income which private industry cannot provide.
    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
    limit
    No
    exemption
    allowed
    2. Duration No
    limit
    No
    limit
    No
    limit
    No
    exemption
    allowed
    3. Taxing Jurisdiction
    a. County or County
    Special Districts
    Ex NA Ex Tax
    b. City
    Ex NA NA Tax
    c. Town or Town
    Special District
    Ex NA Ex Tax
    d. Village
    Ex NA NA Tax
    e. School District
    NA Ex NA NA
    Ex-Exemptâ â â â â â Tax-Taxableâ â â â â â 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:

      Special Ad Valorem Levies: 100% of assessed value.

      Special Assessments: No exemption allowed.>

  6. CODING OF EXEMPTION ON ASSESSMENT ROLL:
    Code Description of Alternative Codes Possible
    18130

    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.

  7. FILING REQUIREMENTS (Owner or Occupant of Property): None.
  8. REPORTING REQUIREMENTS (Assessor): None.
  9. SIMILAR EXEMPTIONS:
    Subject Statute
    Public authorities RPTL §412 & Pub Auth L
    State of New York (generally) RPTL §404(1)

    See also Chart IIA and Chart IIB.

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