Assessor Manuals, Exemption Administration
Exemption Administration Manual—Part 2: Multiple dwellings and urban renewal
Section 4.07 - PHFL Section 663: New York City Housing Development Corporation
Year originally enacted:
Real property owned by the New York City Housing Development Corporation is wholly exempt from taxation but is liable for special assessments.
Property must be owned by the New York City Housing Development Corporation.
Property location requirements:
Property must be located in New York City.
Property use requirements:
Certification by state or local government:
Required construction start date or other time requirement:
Limitation on exemption
|General municipal taxes||School district taxes||Special ad valorem tax||Special assessments|
|1. Amount||No limit||No limit||NA||No exemption allowed|
|2. Duration||No limit||No limit||NA||No exemption allowed|
|3. Taxing jurisdiction|
|b. School district||NA||Ex||NA||NA|
|Ex-Exempt Tax-Taxable NA-Not Applicable|
Payments in lieu of taxes
Calculation of exemption
General municipal and school district taxes:
100% of assessed value.
Special ad valorem levies and special assessments:
No exemption allowed.
Coding of exemption on assessment roll
|Code||Description of alternative codes possible|
Assessment roll section(s):
Note: This code should not be used to identify property that is owned by a NYC Housing Development Corporation subsidiary and is exempt under PHFL §654-a or to identify property that is exempt under any of the statutes listed under Similar exemptions below.
Filing requirements (owner or occupant of property)
Reporting requirements (assessor)
Please send general questions or comments to ORPTS.