2016 New York Laws
RPT - Real Property Tax
Article 4 - EXEMPTIONS
Title 2-C - (489-AAA - 489-III) TAX EXEMPTION FOR CERTAIN INDUSTRIAL AND COMMERCIAL PROPERTIES IN A CITY OF ONE MILLION OR MORE PERSONS
489-GGG - Continuation of tax exemption; termination of tax exemption.

   489-ggg.   Continuation  of  tax  exemption;  termination  of  tax
  exemption. The tax exemption approved by the  board  shall  continue  in
  accordance  with this title, provided that the applicant files an annual
  certificate of continuing use stating that the  structure  and  property
  continue to be used for the industrial or commercial purposes justifying
  the  issuance  of  the  certificate of eligibility.   The certificate of
  continuing use shall be filed with the tax commission on  such  form  or
  forms  and containing such information as shall be prescribed by the tax
  commission. The tax commission shall have authority to terminate  a  tax
  exemption  on  failure  of an applicant to file an annual certificate of
  continuing use or on the recommendation of the finance commissioner who,
  in reviewing the certificate filed by an applicant, has determined  that
  the  structure  or  property has ceased to be used for the industrial or
  commercial purposes  justifying  the  issuance  of  the  certificate  of
  eligibility.