2023 New York Laws › RPT - Real Property Tax › Article 12 - State Equalization › Title 2 - Special Equalization Rates › 1227 - Rates for Apportionment Purposes; Full Value Adjustments.

§  1227.  Rates for apportionment purposes; full value adjustments. 1.
If a nuclear powered electric generating facility, as defined by section
four hundred eighty-five of this chapter, is exempt  from  taxation  for
all  purposes  pursuant  to  section  four  hundred  eighty-five of this
chapter, the facility shall be deemed to be wholly exempt real  property
for  purposes  of this article. If such a facility is not exempt for all
purposes, it shall be deemed to be taxable real property for purposes of
this article.
2. (a) When a nuclear powered electric generating facility  is  exempt
from  taxation  for  school  district  purposes pursuant to section four
hundred eighty-five of this chapter,  but  it  is  not  exempt  for  all
purposes,  the commissioner shall establish a special apportionment rate
for the assessing unit containing the facility, which rate shall be used
for purposes of apportioning school district  taxes  to  that  assessing
unit  pursuant  to  section  thirteen  hundred fourteen of this chapter,
subject  to  the  provisions  of  paragraph  (b)  of  this  subdivision.
Provided,  however,  that  no  such  rate shall be established unless it
would result in a change of two percent or more  in  the  share  of  the
school  district levy allocated to at least one school district segment,
or where applicable  in  the  share  of  the  non-homestead  class  levy
allocated to at least one portion.
(b)  When  there  is  another  such  facility  located within the same
assessing unit but within a different school district, and such facility
is not exempt from taxation for purposes of that  school  district,  the
commissioner  may  establish  a different special apportionment rate for
purposes of apportioning the  taxes  of  the  school  district  to  that
assessing unit.
3.  When a nuclear powered electric generating facility is exempt from
taxation  for  county  purposes  pursuant  to   section   four   hundred
eighty-five  of this chapter, but it is not exempt for all purposes, the
commissioner shall  establish  a  special  apportionment  rate  for  the
assessing  unit  containing  the  facility  for purposes of establishing
county equalization rates pursuant to title two of article eight of this
chapter. Provided, however, no such rate shall be established unless  it
would  result  in  a  change  of two percent or more in the share of the
county levy allocated to any city or town within the  county,  or  where
applicable,  in  the  share of the non-homestead class levy allocated to
any portion.
4. When the commissioner has established a special apportionment  rate
pursuant  to  this  section,  the affected county or school district may
request a full value adjustment from the commissioner. Any such  request
must  be  submitted no later than thirty days prior to the last date set
by law for the first tax levy involving such rate. Where such a  request
is  granted,  the  commissioner  shall  issue  a  series  of  full value
adjustments over a five-year period, which  shall  have  the  effect  of
phasing in over that period the impact of the special apportionment rate
upon the tax levy.