N.Y. Real Property Tax Law Section 485-E
Empire zone exemption

1.

(a) Real property constructed, altered, installed or improved in an area designated an empire zone pursuant to article eighteen-B of the general municipal law shall be exempt from taxation and special ad valorem levies by any municipal corporation in which located, for the period and to the extent herein provided, provided that the governing board of such municipal corporation, after public hearing, adopts a local law, ordinance or resolution providing therefor.

(b)

For exemptions commencing in the first seven years from the date on which the empire zone was designated, the amount of such exemption in any of these years shall be one hundred percent of the “base amount”, determined pursuant to subdivision two of this section. In the eighth, ninth and tenth years, the amount of the exemption shall be seventy-five percent, fifty percent, and twenty-five percent, respectively, of such base amount.

(c)

For exemptions commencing in the eighth, ninth and tenth years from the date on which the empire zone was designated, the amount of such exemption shall be seventy-five percent, fifty percent and twenty-five percent, respectively, of the “base amount”, determined pursuant to subdivision two of this section. 1-a.

(a)

A municipal corporation may provide in such local law, ordinance or resolution, or in a separate local law, ordinance or resolution adopted after public hearing, that the exemption so authorized shall be for a term of ten years, notwithstanding that the designation of the zone may expire prior to the end of such ten year term. Any such local law, ordinance or resolution shall be applicable only to exemptions commencing on assessment rolls with taxable status dates on or after the effective date of such local law, ordinance or resolution.

(b)

Where such local law, ordinance or resolution has been adopted, the amount of such exemption in the first seven years of its term shall be one hundred percent of the “base amount,” determined pursuant to subdivision two of this section. The amount of the exemption in the eighth, ninth, and tenth years of its term shall be seventy-five percent, fifty percent and twenty-five percent, respectively, of such base amount.

2.

(a) The base amount of the exemption shall be the extent of the increase in assessed value attributable to such construction, alteration, installation or improvement as determined in the initial year for which application for exemption is made pursuant to this section. The base amount shall remain constant for the authorized term of the exemption, subject to the following:

(i)

If there is subsequent construction, alteration, installation or improvement during the term of the exemption, the base amount shall be revised to include the increase in assessed value attributable to such construction, alteration, installation or improvement.

(ii)

If a change in level of assessment of fifteen percent or more is certified for an assessment roll pursuant to the rules of the commissioner, the base amount shall be adjusted by such change in level of assessment. The exemption on that assessment roll shall thereupon be recomputed, notwithstanding the fact that the assessor receives the certification after the completion, verification and filing of the final assessment roll. In the event the assessor does not have custody of the roll when such certification is received, the assessor shall certify the recomputed exemption to the local officers having custody and control of the roll, and such local officers are hereby directed and authorized to enter the recomputed exemption certified by the assessor on the roll.

(b)

No such exemption shall be granted unless, pursuant to article eighteen-B of the general municipal law: (1) notice of the designation of the empire zone has been filed with the clerk of the assessing unit by the commissioner on or before the applicable taxable status date; (2) the construction, alteration, installation or improvement commenced on or after the date the empire zone was designated; and (3) the designation of the empire zone has not ended and has not been terminated by the commissioner on or before the applicable taxable status date.

(c)

For purposes of this section the terms construction, alteration, installation and improvement shall not include ordinary maintenance and repairs.

(d)

No such exemption shall be granted concurrent with or subsequent to any other real property tax exemption granted to the same improvements to real property, except, where during the period of such previous exemption, payments in lieu of taxes or other payments were made to the local government in an amount that would have been equal to or greater than the amount of real property taxes that would have been paid on such improvements had such property been granted an exemption pursuant to this section. In such case, an exemption shall be granted for a number of years equal to the ten year exemption granted pursuant to this section less the number of years the property would have been previously exempt from real property taxes.

3.

Such exemption shall be granted only upon application by the owner of such real property on a form prescribed by the commissioner. The original of such application shall be filed with the assessor of the assessing unit. Such original application shall be filed on or before the appropriate taxable status date of such assessing unit and no later than one year from the date of completion of such construction, alteration, installation or improvement.

4.

If the assessor receives the notice described in subparagraph (b) of subdivision two of this section and an application by the owner of the real property, he shall approve the application and such real property shall thereafter be exempt from taxation as herein provided commencing with the assessment roll prepared after the taxable status date referred to in subdivision three of this section. The assessed value of any exemption granted pursuant to this section shall be entered by the assessor on the assessment roll with the taxable property, with the amount of the exemption entered in a separate column.

5.

Exemptions existing prior in time to the termination of the designation of an empire zone by the commissioner, or, in the case of a municipal corporation which has adopted a local law, ordinance or resolution pursuant to subdivision one-a of this section, prior in time to the expiration of such designation, shall continue as if the designation of the empire zone had not been terminated, or, if applicable, had not expired; provided, however, that any further increase in the value attributable to construction, alteration, installation or improvement commenced subsequent to the date of termination, or, if applicable, the date of expiration, shall not be eligible for exemption pursuant to this section.

Source: Section 485-E — Empire zone exemption, https://www.­nysenate.­gov/legislation/laws/RPT/485-E (updated Sep. 22, 2014; accessed Oct. 26, 2024).

420‑A
Nonprofit organizations 420‑B
Nonprofit organizations 420‑C
Exemption from local real property taxation of certain low income housing accommodations in a city having a population of one million or ... 421‑A
Affordable New York Housing Program 421‑B
Exemption of certain private dwellings, multiple dwellings and improvements from local taxation 421‑C
Exemption of certain new multiple dwellings from local taxation 421‑D
Exemption of multiple dwellings financed by the New York state housing finance agency from local taxation 421‑E
Exemption of cooperative, condominium, homesteading and rental projects from local taxation 421‑F
Exemption of capital improvements to residential buildings and certain new construction 421‑FF
Exemption of capital improvements to residential buildings in cities with a population between twenty-seven thousand five hundred and twe... 421‑G
Exemption from local taxation of certain multiple dwellings 421‑H
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑H*2
Exemption of capital improvements to residential buildings 421‑I
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑I*2
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑J
Exemption of capital investment in multiple dwelling buildings within certain cities 421‑J*2
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑K
Exemption of certain multiple dwellings 421‑L
Exemption of capital improvements to residential buildings in certain towns 421‑M
Exemption of certain new or substantially rehabilitated multiple dwellings from local taxation 421‑N
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑O
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑O*2
Exemption of capital improvements to multiple dwelling buildings within certain cities 421‑P
Exemption of newly-constructed or converted rental multiple dwellings 421‑P*2
Exemption of capital improvements to residential new construction involving the creation of accessory dwelling units 422
Not-for-profit housing companies 423
Phase out of exemption for redevelopment company projects upon the cessation of the tax exemption granted pursuant to contract 424
Institute of arts and sciences 425
School tax relief (STAR) exemption 425‑A
Abatement of county taxes in special assessing units 426
Opera houses 427
Performing arts buildings 428
Fraternal organizations 429
Real property used for professional major league sports 430
Interdenominational centers 432
Theatrical corporations created by act of congress 434
Academies of music 436
Officers of religious denominations 438
Trustees of a hospital, playground and library 440
Infant homes 442
Soldiers monument corporations 444
Historical societies 444‑A
Historic property 446
Cemeteries 450
Agricultural societies 452
Veterans organizations 454
Indians 455
Exemption option 456
Municipal railroads 457
Exemption for first-time homebuyers of newly constructed homes 458
Veterans 458‑A
Veterans 458‑B
Exemption for Cold War veterans 458‑C
Improvements to property of severely injured members of the armed forces of the United States 459
Persons who are physically disabled 459‑A
Improvements to property made pursuant to the Americans with Disabilities Act of 1990 459‑B
Physically disabled crime victims 459‑C
Persons with disabilities and limited incomes 460
Clergy 462
Religious corporations 464
Incorporated associations of volunteer firefighters 466
Volunteer firefighters and fire companies in villages 466‑A
Volunteer firefighters and volunteer ambulance workers 466‑A*2
Volunteer firefighters and volunteer ambulance workers 466‑B
Volunteer firefighters and volunteer ambulance workers 466‑C
Volunteer firefighters and volunteer ambulance workers 466‑C*2
Volunteer firefighters and volunteer ambulance workers 466‑C*3
Volunteer firefighters and volunteer ambulance workers 466‑C*4
Volunteer firefighters and volunteer ambulance workers 466‑C*5
Volunteer firefighters and volunteer ambulance workers 466‑C*6
Volunteer firefighters and volunteer ambulance workers 466‑C*7
Volunteer firefighters and volunteer ambulance workers 466‑D
Volunteer firefighters and volunteer ambulance workers 466‑D*2
Volunteer firefighters and volunteer ambulance workers 466‑D*3
Volunteer firefighters and volunteer ambulance workers 466‑D*4
Volunteer firefighters and volunteer ambulance workers 466‑E
Volunteer firefighters and volunteer ambulance workers 466‑E*2
Volunteer firefighters and volunteer ambulance workers 466‑E*3
Volunteer firefighters and volunteer ambulance workers 466‑E*4
Volunteer firefighters and volunteer ambulance workers 466‑F
Volunteer firefighters and volunteer ambulance workers 466‑F*2
Volunteer firefighters and volunteer ambulance workers 466‑F*3
Volunteer firefighters and volunteer ambulance workers 466‑F*4
Volunteer firefighters and volunteer ambulance workers 466‑F*5
Un-remarried spouses of volunteer firefighters or volunteer ambulance workers killed in the line of duty 466‑G
Volunteer firefighters and volunteer ambulance workers 466‑G*2
Volunteer firefighters and volunteer ambulance workers 466‑H
Volunteer firefighters and volunteer ambulance workers 466‑H*2
Un-remarried spouses of deceased volunteer firefighters or volunteer ambulance workers 466‑I
Volunteer firefighters and volunteer ambulance workers 466‑J
Volunteer firefighters and volunteer ambulance workers 466‑K
Volunteer firefighters and volunteer ambulance workers 466‑L
Extension of benefits 467
Persons sixty-five years of age or over 467‑A
Partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a populatio... 467‑B
Tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities 467‑C
Exemption for property owned by certain housing companies or sublessees of the battery park city authority and occupied by senior citizen... 467‑D
Assessment exemption for certain living quarters constructed to be occupied by a senior citizen or disabled individual 467‑E
Rebate for owners or tenant-stockholders of one, two or three family residences or residential property held in the condominium or cooper... 467‑F
Protective and safety devices tax abatement 467‑G
Rebate for owners of certain real property seriously damaged by the severe storm that occurred on the twenty-ninth and thirtieth of Octob... 467‑H
Partial abatement for certain rebuilt real property seriously damaged by the severe storm that occurred on the twenty-ninth and thirtieth... 467‑I
Real property tax abatement 467‑J
Exemption for certain residential properties located in certain counties 467‑K
Senior citizen longtime resident exemption 467‑K*2
Exemption for certain residential property required to participate in the federal flood insurance program 467‑L
Rebate for owners of certain real property in the city of New York 467‑M
Exemption from local real property taxation of certain multiple dwellings in a city having a population of one million or more 468
Fire patrol and salvage corps 469
Assessment exemption for living quarters for parent or grandparent 470
Exemption for improvements to real property meeting certification standards for green buildings 472
Pharmaceutical societies 474
Dental societies 476‑A
Railroad passenger stations 477
Tax exemption for industrial waste treatment facilities 477‑A
Tax exemption for air pollution control facilities 478
Tax exemption for off-street parking facilities providing underground shelters 479
Fallout shelter facilities 480
Forest and reforested lands 480‑A
Taxation of forest land 481
Taxation of land used for agricultural production 482
Quarantined lands 483
Exemption from taxation of structures and buildings essential to the operation of agricultural and horticultural lands 483‑A
Farm silos, farm feed grain storage bins, commodity sheds, bulk milk tanks and coolers, and manure storage and handling facilities 483‑B
Historic barns 483‑C
Temporary greenhouses 483‑D
Farm or food processing labor camps or commissaries 483‑E
Anaerobic digestion facilities 484
Urban redevelopment corporations and companies 485
Nuclear powered electric generating facilities 485‑A
Residential-commercial urban exemption program 485‑B
Business investment exemption 485‑C
Exemption from taxation of real property used in manufacture of steel in cities of fifty thousand or more persons 485‑D
Water-works corporations 485‑E
Empire zone exemption 485‑F
Banking development districts 485‑G
Infrastructure exemption 485‑H
Residential investment exemption 485‑I
Residential investment exemption 485‑I*2
Residential investment exemption 485‑J
Residential property improvement exemption 485‑J*2
Residential investment exemption 485‑J*3
Residential investment exemption 485‑J*4
Residential investment exemption 485‑J*5
Residential investment exemption 485‑K
Residential investment exemption 485‑L
Residential property improvement 485‑L*2
Residential investment exemption 485‑M
Residential investment exemption 485‑N
Residential-commercial exemption program 485‑O
New residential property exemption 485‑P
Economic transformation area exemption 485‑Q
Residential investment exemption 485‑R
Residential redevelopment inhibited property exemption 485‑S
Residential reassessment exemption 485‑S*2
Residential reassessment exemption 485‑S*3
Mixed use exemption program for villages 485‑T
Owner occupied residential property exemption program 485‑U
Class one reassessment exemption 485‑V
Residential revaluation exemption 485‑V*2
Residential and mixed-use investment exemption 485‑W
Newly constructed single-family and multi-family residential exemption 485‑X
Affordable neighborhoods for New Yorkers tax incentive 486
Non-profit medical and dental indemnity, or hospital service corporations 486‑A
Non-profit corporations operating as health maintenance organizations 487
Exemption from taxation for certain energy systems 487‑A
Exemption from taxation of conservation improvements to certain residential premises 488
Retirement systems 488‑A
Rehabilitation of certain class B multiple dwellings and class A multiple dwellings used for single room occupancy 489
Exemption from taxation of alterations and improvements to multiple dwellings to eliminate fire and health hazards
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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 485-E’s source at nysenate​.gov

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