§ 499-aa. Definitions. When used in this title, the following terms shall mean or include: 1. “Abatement base.” The lesser of (i) two dollars and fifty cents of the tax liability per square foot or (ii) fifty per centum of the tax liability per square foot; provided, however, that with respect to a lease commencing […]
§ 499-bb. Real property tax abatement. 1. Except as provided in subdivisions one-a and one-b of this section, within a city having a population of one million or more, eligible buildings containing eligible premises shall receive an abatement of real property taxes during the benefit period as follows: (a) for each of the first three […]
§ 499-cc. Eligibility requirements. 1. No abatement shall be granted pursuant to this title unless: (a) the landlord enters into a lease for eligible premises with a new tenant or a renewal tenant and: (1) the lease commencement date is within the eligibility period; (2) (i) if, by the sixtieth day following the rent commencement […]
§ 499-dd. Application for certificate of abatement. 1. Application for a certificate of abatement may be made on or after April first, nineteen hundred ninety-five and until sixty days after the end of the eligibility period, provided, however, that application for a certificate of abatement for eligible premises located within the abatement zone defined in […]
§ 499-ee. Enforcement and administration. The department of finance shall have, in addition to any other functions, powers and duties which have been or may be conferred on it by law, the following functions, powers and duties: 1. To receive and review applications for certificates of abatement under this title and issue such certificates where […]
§ 499-ff. Reporting requirements; revocation of abatements. 1. For the duration of the applicant’s benefit period, the applicant shall file annually with the department of finance, on or before July first of each year, a certificate of continuing eligibility confirming that the eligible premises are occupied by the tenant who originally executed the lease and […]
§ 499-gg. Tax lien; interest and penalty. All taxes, with interest, required to be paid retroactively pursuant to this title shall constitute a tax lien as of the date it is determined such taxes and interest are owed. All interest shall be calculated from the date the taxes would have been due but for the […]
§ 499-hh. Confidentiality. 1. Except in accordance with a proper judicial order or as otherwise provided by law, it shall be unlawful for the commissioner of finance, any officer or employee of the department of finance, the president or a commissioner or employee of the tax commission, any person engaged or retained by such department […]
