NY Real Prop Tax L § 499-BBB (2021)
2021 New York Laws RPT - Real Property Tax Article 4 - Exemptions Title 4-B - Green Roof Tax Abatement for Certain Properties in a City of One Million or More Persons 499-BBB - Real Property Tax Abatement.

§  499-bbb.  Real  property  tax abatement. An eligible building shall receive an abatement of real property taxes as provided  in  this  title and the rules promulgated hereunder.   1. (a) The amount of such tax abatement for any tax year commencing on or  after  July  first,  two  thousand nine and ending on or before June thirtieth, two thousand fourteen shall be four dollars and  fifty  cents per  square foot of a green roof pursuant to an approved application for tax abatement; provided, however, that the amount of such tax  abatement shall  not exceed the lesser of (i) one hundred thousand dollars or (ii) the tax liability for the eligible building in the tax year in which the tax abatement is taken.  (b) The total amount of such tax abatement commencing on or after July first, two thousand fourteen and ending on or before June thirtieth, two thousand twenty-four, shall be five dollars and twenty-three  cents  per square  foot of a green roof pursuant to an approved application for tax abatement; provided, however, that the  amount  of  such  tax  abatement shall  not exceed two hundred thousand dollars. To the extent the amount of such tax abatement exceeds the total tax liability in any  tax  year, any  remaining  amount may be applied to the tax liability in succeeding tax years, provided that such abatement  must  be  applied  within  five years of the tax year in which the tax abatement was initially taken.  (c)  Notwithstanding  paragraph  (b)  of  this  subdivision,  property located  within  specifically  designated  New   York   city   community districts,  selected by an agency designated by the mayor of the city of New York pursuant to subdivision five of this section, shall receive  an enhanced  tax  abatement  for any green roof with a growth medium with a depth of at least four inches. The total amount  of  such  enhanced  tax abatement  commencing  on or after July first, two thousand nineteen and ending on or before June thirtieth, two thousand twenty-four,  shall  be fifteen  dollars per square foot of a green roof pursuant to an approved application for enhanced tax  abatement:  provided,  however,  that  the amount  of  such  enhanced  tax  abatement  shall not exceed two hundred thousand dollars.  To  the  extent  the  amount  of  such  enhanced  tax abatement exceeds the total tax liability in any tax year, any remaining amount  may  be  applied  to  the tax liability in succeeding tax years, provided that such abatement must be applied within five  years  of  the tax year in which the tax abatement was initially taken.  (d)  Notwithstanding  paragraph  (b)  or  (c) of this subdivision, the aggregate amount of tax abatements allowed under  this  subdivision  for the  tax  year  commencing  July first, two thousand fourteen and ending June thirtieth two thousand fifteen shall be a maximum of seven  hundred fifty  thousand  dollars,  and  the  aggregate  amount of tax abatements allowed under this subdivision for any tax year commencing on  or  after July first, two thousand fifteen and ending on or before June thirtieth, two  thousand  twenty-four shall be a maximum of one million dollars. No tax abatements shall be allowed under this subdivision for any tax  year commencing on or after July first, two thousand twenty-four.  (e)  Such  aggregate  amount  of tax abatements including enhanced tax abatements, shall be allocated by the department of  finance  on  a  pro rata  basis  among applicants whose applications have been approved by a designated agency. If such allocation is not made prior to the date that the real property tax bill, statement of account or other  similar  bill or  statement  is  prepared,  then  the  department of finance shall, as necessary, after  such  allocation  is  made,  submit  an  amended  real property  tax  bill,  statement  of  account  or  other  similar bill or statement to any applicant whose abatement must be adjusted  to  reflect such allocation. Nothing in this paragraph shall be deemed to affect the obligation  of  any  taxpayer  under  applicable law with respect to the  payment of any installment of real property tax for the fiscal  year  as to which such allocation is made, which was due and payable prior to the date  such  amended real property tax bills are sent, and the department of  finance  shall  be authorized to determine the date on which amended bills are to be sent and the installments of real property tax which are to be reflected therein.   2. Such tax abatement shall  commence  on  July  first  following  the approval of an application for tax abatement by a designated agency.   3.  With respect to any eligible building held in the condominium form of ownership that receive a tax abatement pursuant to this  title,  such tax abatement benefits shall be apportioned among all of the condominium tax lots within such eligible building.   4.  If,  as  a  result of application to the tax commission or a court order or action by the department  of  finance,  the  billable  assessed value for the fiscal year in which the tax abatement is taken is reduced after the assessment roll becomes final, the department of finance shall recalculate the abatement so that the abatement granted shall not exceed the  annual  tax  liability  as  so  reduced.  The  amount  equal to the difference between the abatement originally granted and the abatement as so recalculated shall be deducted from any refund otherwise  payable  or remission  otherwise  due  as  a  result  of  such reduction in billable assessed value.   5. Buildings located within  specifically  designated  New  York  city community  districts, as identified by an agency designated by the mayor of the city of  New  York,  shall  be  eligible  for  the  enhanced  tax abatement described in paragraph (c) of subdivision one of this section. No  building  located  outside of a designated area shall be eligible to receive an enhanced abatement. An agency designated by the mayor of  the city  of  New  York  shall select community districts on a rolling basis over a period of three years. In  selecting  community  districts,  such agency  shall  prioritize areas in the priority combined sewage overflow tributary areas identified by the city  of  New  York,  with  particular emphasis  on those portions of such city that have been identified by an agency designated by the mayor of such city as lacking green space.