NY Real Prop Tax L § 406 (2021)
2021 New York Laws RPT - Real Property Tax Article 4 - Exemptions Title 1 - Public Property 406 - Municipal Corporations.

§  406.  Municipal corporations. 1. Real property owned by a municipal   corporation within its corporate limits held for a public use  shall  be   exempt  from  taxation  and  exempt  from  special ad valorem levies and   special assessments to the  extent  provided  in  section  four  hundred   ninety of this chapter.2.  Real  property  owned  by  a  municipal corporation not within its   corporate limits  while  used  for  the  provision  of  fire  protection   services  provided  that  some fire protection services are available to   the municipal corporation in which the real property is located,  for  a   public  park,  public  aviation  field, highway or for flood control and   soil  conservation  purposes  as  provided  in   section   two   hundred   twenty-three  of  the  county  law  shall be exempt from taxation by any   municipal corporation in which it is  located,  provided  the  governing   board thereof shall so agree in writing.3.  Real  property  owned  by  a  municipal corporation not within its   corporate limits while used  as  a  sewage  disposal  plant  or  system,   including  necessary  connections  and  appurtenances,  or real property   owned by a municipal corporation having a population of  less  than  one   hundred  thousand or a population of two hundred twenty-five thousand or   more but less than three hundred thousand used as a water plant, pumping   station, water treatment  plant,  water  shed  or  reservoir,  including   necessary  connections  and  appurtenances  shall be wholly or partially   exempt from taxation and wholly or  partially  exempt  from  special  ad   valorem  levies and special assessments, by any municipal corporation in   which located, provided the governing board thereof shall  so  agree  in   writing.4.  The  aqueducts  which are a part of the water supply system of the   city of New York shall be entitled to the exemption provided by law.5. Real property owned by a  municipal  corporation  acquired  by  tax   deed,  by  referee's deed in tax foreclosure, pursuant to article eleven   of this chapter or pursuant to a deed made in lieu  of  tax  foreclosure   shall  be deemed to be held by it for a public use for a period of three   years from the date of the deed and during such period shall  be  exempt   from  taxation  and  special  ad valorem levies, but shall be liable for   taxes for school purposes and special  assessments.  Any  such  property   from  which  a municipal corporation is receiving revenue on the date of   taxable status, however, shall not be so exempt.6. County reforested lands shall be entitled to the exemption provided   in the county law.7. Real property owned by a municipal corporation  on  January  first,   nineteen  hundred  sixty-eight  outside  the boundaries of the municipal   corporation shall be exempt from taxation where: (a)  such  property  is   used  for  public  aviation purposes; and (b) is served by three or more   major passenger air carriers; and (c) payments in lieu of real  property   taxes  are paid in accordance herewith. The owning municipal corporation   shall make payments in lieu of real property taxes to the county,  town,   school  districts and villages in which it is located in an amount which   will not be less than the amount  of  taxes  finally  determined  to  be   payable  pursuant to the law in effect on the effective date of this act   or any agreement in effect on  the  effective  date  of  this  act  made   pursuant  to  law. The owning municipal corporation is hereby authorized   and empowered to make payments in lieu of real property taxes in  excess   of the amounts required by this subdivision.8.  Real  property  owned  by  a  municipal corporation not within its   corporate limits while used for a municipal  electrical  generation  and   distribution  system, including necessary connections and appurtenances,   shall be  wholly  or  partially  exempt  from  taxation  and  wholly  or   partially exempt from special ad valorem levies and special assessments,    by  any  municipal  corporation in which located, provided the governing   board thereof shall so agree in writing.