2023 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.