2023 New York Laws › RPT - Real Property Tax › Article 4 - Exemptions › Title 3 - Miscellaneous Provisions › 496 - Voluntary Renunciation of an Exemption.

§ 496. Voluntary renunciation of an exemption. 1. A property owner who
wishes  to  give  up  his  or  her  claim to an exemption on one or more
preceding assessment rolls may renounce  the  exemption  in  the  manner
provided by this section.
2.  An  application  to  renounce an exemption shall be made on a form
prescribed by the commissioner  and  shall  be  filed  with  the  county
director of real property tax services no later than ten years after the
levy  of taxes upon the assessment roll on which the renounced exemption
appears. The county director, after  consulting  with  the  assessor  as
appropriate,  shall  compute  the  total  amount  owed on account of the
renounced exemption as follows:
(a) For each assessment roll on which the renounced exemption appears,
the assessed value that was exempted shall be multiplied by the tax rate
or rates that were applied to that assessment roll, or in the case of  a
renounced  STAR  exemption,  the  tax  savings  calculated  pursuant  to
subdivision two of section  thirteen  hundred  six-a  of  this  chapter.
Interest shall then be added to each such product at the rate prescribed
by  section nine hundred twenty-four-a of this chapter or such other law
as may be applicable for each month or portion thereon since the levy of
taxes upon such assessment roll.
(b) The sum of the calculations made pursuant to paragraph (a) of this
subdivision with respect to all of  the  assessment  rolls  in  question
shall be determined.
(c) A processing fee of five hundred dollars shall be added to the sum
determined  pursuant  to  paragraph  (b) of this subdivision, unless the
provisions of paragraph (d) of this subdivision are applicable.
(d) If the applicant is  renouncing  a  STAR  exemption  in  order  to
qualify  for  the  personal  income  tax credit authorized by subsection
(eee) of section six hundred six of the tax law, and no other exemptions
are being renounced on the same application,  or  if  the  applicant  is
renouncing  a STAR exemption before school taxes have been levied on the
assessment roll upon which that exemption  appears,  no  processing  fee
shall be applicable.
3.  After  computing  the total amount due on account of the renounced
exemption, the county director shall return the form  to  the  applicant
with  the  total  amount due noted thereon. A copy of such form shall be
provided to the assessor, and in the case of the STAR exemption, to  the
commissioner.  Within  fifteen  days after the mailing of such form, the
applicant shall pay the total amount due as shown thereon to the  county
treasurer,  who  shall issue a receipt for such payment. After deducting
the processing fee, the county treasurer  shall  distribute  the  amount
collected  among  the  affected  municipal corporations according to the
taxes and interest owing to each, provided that in the case of the  STAR
exemption  authorized  by  section  four  hundred  twenty-five  of  this
article, the amount collected, including interest, shall be paid to  the
state in the manner directed by the commissioner.
4. Notwithstanding the foregoing provisions of this section, in a city
with  a population of one million or more, an exemption may be renounced
on a form prescribed by the commissioner  of  finance,  and  the  duties
imposed  by this section upon the county treasurer shall be performed by
the commissioner of finance.