2023 New York Laws › RPT - Real Property Tax › Article 4 - Exemptions › Title 6 - Childcare Center Tax Abatement for Certain Properties in a City Having a Population of One Million or More › 499-BBBBB - Real Property Tax Abatement.

§ 499-bbbbb. Real property tax abatement. 1. The department of finance
shall  provide  an  abatement  of  real  property taxes pursuant to this
section to an  eligible  building  in  which  construction,  conversion,
alteration or improvement that is completed on or after April first, two
thousand  twenty-two  has  resulted  in  the creation of a premises of a
childcare center or in an increase in the  maximum  number  of  children
allowed on the premises of an existing childcare center when such center
is in operation, as such number is specified in the permit issued by the
department  of  health  and  mental  hygiene to operate such center. The
department of finance may only grant one such abatement to any  eligible
building.
2.  (a)  Beginning  in the tax year commencing on or after July first,
two thousand twenty-three, the amount of such tax abatement provided  to
an  eligible building described in subdivision one of this section shall
be  equal  to  the  costs  incurred  in  the  construction,  conversion,
alteration  or  improvement  that  has  resulted  in  the  creation of a
premises of a childcare center or in an increase in the  maximum  number
of  children  allowed  on  the premises of an existing childcare center,
provided that such costs are certified in accordance with paragraph  (d)
of  subdivision  two  of  section four hundred ninety-nine-ccccc of this
title, and provided further  that,  during  the  abatement  period,  the
amount  of  such abatement shall not exceed thirty-five dollars for each
square foot of the premises, nor exceed one hundred thousand dollars.
(i) For any tax year, such abatement shall not  exceed  seven  dollars
for  each  square foot of the premises, provided that such amount may be
reduced as a result  of  an  allocation  of  available  funds  for  such
abatement  pursuant  to paragraph (d) of this subdivision; and provided,
further, that the amount of such tax abatement in any tax year shall not
exceed the lesser of  (A)  twenty  thousand  dollars  or  (B)  the  real
property  tax  liability  for  the  eligible building in the tax year in
which such tax abatement is taken.
(ii) To the extent the amount of such tax abatement exceeds the lesser
of (A) twenty thousand dollars or (B) the real property tax liability of
the eligible building in any tax year, any amount of such tax  abatement
that  remains  may be applied to the real property tax liability of such
building in succeeding tax years, provided that such abatement  must  be
applied  to  the  real property tax liability of such building in one or
more of the four tax years succeeding the tax year  in  which  such  tax
abatement was initially taken.
(b) Notwithstanding paragraph (a) of this subdivision, an enhanced tax
abatement  shall  be  provided  to  an  eligible  building  described in
subdivision one of this section  that  is  located  within  a  childcare
desert  as  described  in  this  title  and  in  any  rules  promulgated
hereunder. Beginning in the tax year commencing on or after July  first,
two  thousand  twenty-three,  the  amount of such enhanced tax abatement
shall be equal to the costs incurred in  the  construction,  conversion,
alteration  or  improvement  that  has  resulted  in  the  creation of a
premises of a childcare center or in an increase in the  maximum  number
of  children  allowed  on  the premises of an existing childcare center,
provided that such costs are certified in accordance with paragraph  (d)
of  subdivision  two  of  section four hundred ninety-nine-ccccc of this
title, and provided further  that,  during  the  abatement  period,  the
amount  of such abatement shall not exceed seventy-five dollars for each
square foot of the premises nor exceed two hundred twenty-five  thousand
dollars.
(i)  For any tax year, such abatement shall not exceed fifteen dollars
for each square foot of the premises, provided that such amount  may  be
reduced  as  a  result  of  an  allocation  of  available funds for such

abatement pursuant to paragraph (d) of this  subdivision;  and  provided
further  that  the amount of such enhanced tax abatement in any tax year
shall not exceed the lesser of (A) forty-five thousand  dollars  or  (B)
the  real  property  tax  liability for the eligible building in the tax
year in which such tax abatement is taken.
(ii) To the extent the amount of such enhanced tax  abatement  exceeds
the  lesser  of (A) forty-five thousand dollars or (B) the real property
tax liability of the eligible building in any tax year,  any  amount  of
such  tax abatement that remains may be applied to the real property tax
liability of such building in succeeding tax years, provided  that  such
abatement  must  be  applied  to the real property tax liability of such
building in one or more of the four tax years succeeding the tax year in
which the tax abatement was initially taken.
(c) Notwithstanding paragraph (a) or  (b)  of  this  subdivision,  the
aggregate  amount  of tax abatements authorized pursuant to this section
for any tax year shall be a maximum of twenty-five million  dollars.  No
tax  abatements shall be authorized pursuant to this section for any tax
year commencing on or after July first, two thousand thirty.
(d) Such  aggregate  amount  of  tax  abatements,  including  the  tax
abatement  described  in  paragraph  (a)  of  this  subdivision  and the
enhanced tax abatement described in paragraph (b) of  this  subdivision,
shall  be  allocated  by  the  department of finance on a pro rata basis
among applicants whose applications have been approved by the 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, 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 requires adjustment 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 any such amended
bills be sent and the installments of real  property  tax  be  reflected
therein.
(e)  Notwithstanding any law to the contrary, any abatement granted to
an eligible building pursuant to this section shall be  in  addition  to
any other abatement or exemption granted to such building, provided that
any  abatement  granted  under  this  section shall be applied after any
other abatement or exemption granted  to  such  building,  and  provided
further  that  the  application  of  this abatement after any other such
exemption or abatement shall not exceed the real property tax  liability
due on such eligible property.
3.  Such  abatement  shall commence on the first of July following the
approval of an application for abatement by the designated agency.
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 of the eligible building 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 such abatement so  that  the
abatement  granted  shall  not  exceed  the annual tax liability of such
building as so reduced. The amount equal to the difference  between  the
initial  abatement  granted  by  the  department 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.