State Codes and Statutes

Statutes > New-york > Pvh > Article-6 > 211

§  211.  Exemption  from  increase  in  local  taxation.  1.  A  local  legislative body is  hereby  authorized,  by  adopting  or  enacting  an  ordinance  or local law, to exempt all or part of the real property held  by redevelopment corporations during a maximum exemption  period,  which  shall  not  exceed  ten years, which represents an increase in any local  tax over the maximum local tax. After the adoption or enactment of  such  an  ordinance  or  local  law, every parcel of real property held by any  redevelopment corporation in the city shall be exempt during the maximum  exemption period, from that portion of each and every local tax  to  the  extent  that  such exemption has been granted by such ordinance or local  law. If, during the last year of  the  maximum  exemption  period,  such  exemption  is  in  existence  on  the day such local tax, or installment  thereof, becomes a lien on such parcel of real property, such  exemption  shall  extend  for the full tax year for such local tax and shall not be  apportioned because of the expiration of the  maximum  exemption  period  during such tax year.    2.  For  the purpose of fixing the date of commencement of the maximum  exemption  period  for  a  group  of  parcels  of  real  property  in  a  development  area, a city is hereby authorized, with the approval of its  local legislative body, except that if there is a board of  estimate  in  the  city,  then with the approval of the board of estimate, to contract  with a redevelopment corporation to place in  one  or  more  groups  the  various  parcels  of  real property therein. Such a contract may provide  that all of the parcels in each group may be deemed to have had a common  stated date of acquisition by the redevelopment corporation,  regardless  of the actual date of acquisition of each parcel contained therein. Such  agreed  date  of  acquisition  shall  thereupon  serve  as  a  basis for  computing the maximum exemption period for each parcel of real  property  in  the  group.  Such agreed date of acquisition shall not be later than  the date of the actual acquisition  of  one  or  more  parcels  of  real  property in the group. After the making of any such contract, all of the  parcels  of  real  property in any such group shall be treated as a unit  for the purposes of the assessment and collection of each local tax, and  the maximum exemption period so computed shall be binding  with  respect  to each local tax.

State Codes and Statutes

Statutes > New-york > Pvh > Article-6 > 211

§  211.  Exemption  from  increase  in  local  taxation.  1.  A  local  legislative body is  hereby  authorized,  by  adopting  or  enacting  an  ordinance  or local law, to exempt all or part of the real property held  by redevelopment corporations during a maximum exemption  period,  which  shall  not  exceed  ten years, which represents an increase in any local  tax over the maximum local tax. After the adoption or enactment of  such  an  ordinance  or  local  law, every parcel of real property held by any  redevelopment corporation in the city shall be exempt during the maximum  exemption period, from that portion of each and every local tax  to  the  extent  that  such exemption has been granted by such ordinance or local  law. If, during the last year of  the  maximum  exemption  period,  such  exemption  is  in  existence  on  the day such local tax, or installment  thereof, becomes a lien on such parcel of real property, such  exemption  shall  extend  for the full tax year for such local tax and shall not be  apportioned because of the expiration of the  maximum  exemption  period  during such tax year.    2.  For  the purpose of fixing the date of commencement of the maximum  exemption  period  for  a  group  of  parcels  of  real  property  in  a  development  area, a city is hereby authorized, with the approval of its  local legislative body, except that if there is a board of  estimate  in  the  city,  then with the approval of the board of estimate, to contract  with a redevelopment corporation to place in  one  or  more  groups  the  various  parcels  of  real property therein. Such a contract may provide  that all of the parcels in each group may be deemed to have had a common  stated date of acquisition by the redevelopment corporation,  regardless  of the actual date of acquisition of each parcel contained therein. Such  agreed  date  of  acquisition  shall  thereupon  serve  as  a  basis for  computing the maximum exemption period for each parcel of real  property  in  the  group.  Such agreed date of acquisition shall not be later than  the date of the actual acquisition  of  one  or  more  parcels  of  real  property in the group. After the making of any such contract, all of the  parcels  of  real  property in any such group shall be treated as a unit  for the purposes of the assessment and collection of each local tax, and  the maximum exemption period so computed shall be binding  with  respect  to each local tax.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Pvh > Article-6 > 211

§  211.  Exemption  from  increase  in  local  taxation.  1.  A  local  legislative body is  hereby  authorized,  by  adopting  or  enacting  an  ordinance  or local law, to exempt all or part of the real property held  by redevelopment corporations during a maximum exemption  period,  which  shall  not  exceed  ten years, which represents an increase in any local  tax over the maximum local tax. After the adoption or enactment of  such  an  ordinance  or  local  law, every parcel of real property held by any  redevelopment corporation in the city shall be exempt during the maximum  exemption period, from that portion of each and every local tax  to  the  extent  that  such exemption has been granted by such ordinance or local  law. If, during the last year of  the  maximum  exemption  period,  such  exemption  is  in  existence  on  the day such local tax, or installment  thereof, becomes a lien on such parcel of real property, such  exemption  shall  extend  for the full tax year for such local tax and shall not be  apportioned because of the expiration of the  maximum  exemption  period  during such tax year.    2.  For  the purpose of fixing the date of commencement of the maximum  exemption  period  for  a  group  of  parcels  of  real  property  in  a  development  area, a city is hereby authorized, with the approval of its  local legislative body, except that if there is a board of  estimate  in  the  city,  then with the approval of the board of estimate, to contract  with a redevelopment corporation to place in  one  or  more  groups  the  various  parcels  of  real property therein. Such a contract may provide  that all of the parcels in each group may be deemed to have had a common  stated date of acquisition by the redevelopment corporation,  regardless  of the actual date of acquisition of each parcel contained therein. Such  agreed  date  of  acquisition  shall  thereupon  serve  as  a  basis for  computing the maximum exemption period for each parcel of real  property  in  the  group.  Such agreed date of acquisition shall not be later than  the date of the actual acquisition  of  one  or  more  parcels  of  real  property in the group. After the making of any such contract, all of the  parcels  of  real  property in any such group shall be treated as a unit  for the purposes of the assessment and collection of each local tax, and  the maximum exemption period so computed shall be binding  with  respect  to each local tax.