2016 New York Laws
RPT - Real Property Tax
Article 4 - EXEMPTIONS
Title 2 - (420-A - 489) PRIVATE PROPERTY
467-G - Rebate for owners of certain real property seriously damaged by the severe storm that occurred on the twenty-ninth and thirtieth of October, two thousand twelve in a city having a population of one million or more.

  467-g. Rebate for owners of certain real property seriously damaged
  by the severe storm that occurred on the twenty-ninth and  thirtieth  of
  October,  two  thousand  twelve  in  a  city  having a population of one
  million or more. 1. Generally.  Notwithstanding  any  provision  of  any
  general,  special  or  local  law  to  the  contrary,  any city having a
  population of one million or more is hereby authorized and empowered  to
  adopt  and  amend  local laws in accordance with this section to grant a
  rebate of real property taxes for the fiscal year beginning on the first
  of July, two thousand twelve, in the amount provided  in  this  section.
  Such rebate shall be paid by the commissioner of finance to an owner who
  owned  eligible  real  property  as defined in subdivision three of this
  section or a unit in such eligible real property  on  the  thirtieth  of
  October,  two thousand twelve. If legal title to eligible real property,
  or ownership of shares of stock representing a dwelling unit, is held by
  one or more trustees, the beneficial owner or owners shall be deemed  to
  own  the  property  or  dwelling  unit  for  purposes  of  this section.
  Notwithstanding any provision of this article to the contrary, an  owner
  whose  property  is  receiving benefits pursuant to any other section of
  this article shall not be prohibited from receiving a rebate pursuant to
  this section if such owner is otherwise eligible to receive such rebate.
2. Definitions. As used in this section:
a. "Annual tax" means the amount of real property tax that is  imposed
  on  a  property  for the fiscal year beginning on the first of July, two
  thousand twelve, determined after reduction for any  amount  from  which
  the property is exempt, or which is abated, pursuant to applicable law.
b.  "Assessed valuation" means the assessed valuation of real property
  that was used to determine the annual tax as defined in paragraph  a  of
  this  subdivision,  and  which is not reduced by any exemption from real
  property taxes. For real property classified as class two or class  four
  real  property as defined in subdivision one of section eighteen hundred
  two of this chapter to  which  subdivision  three  of  section  eighteen
  hundred  five  of  this  chapter  applies, the assessed valuation is the
  lower of the assessed valuation and transitional assessed  valuation  as
  provided  in  subdivision three of section eighteen hundred five of this
  chapter, and which is not reduced by any exemption  from  real  property
  taxes.
c.  "Commissioner  of  finance" means the commissioner of finance of a
  city having a population of one million or more, or his or her designee.
d.  "Cooperative  development"  means,  with  respect  to   properties
  described  in subparagraph (c) of paragraph class one of subdivision one
  of section eighteen hundred two of this chapter, all of the  properties,
  including  the  land  and  improvements thereon, as to which the land is
  held by a single cooperative corporation.
e. "Department of buildings" means the department of  buildings  of  a
  city having a population of one million or more.
f.  "Department  of finance" means the department of finance of a city
  having a population of one million or more.
g. "Owner" means the owner of real property, or  a  tenant-stockholder
  of  a unit in real property held in the cooperative form of ownership on
  the thirtieth of October, two thousand twelve.
3. Eligible real property. a. For purposes of this section,  "eligible
  real  property"  means  any  tax  lot  that contained, on the applicable
  taxable status date, class one, class two or class four real property as
  such classes of real property are defined in subdivision one of  section
  eighteen  hundred  two  of  this chapter, on which any building has been
  designated by the department of buildings in accordance with paragraph b
  of this subdivision.

b. For purposes of this section, a building has been designated by the
  department of buildings if:
(1) during the period beginning on the first of November, two thousand
  twelve  and  ending  on  the thirtieth of November, two thousand twelve,
  after inspection by the department, such building has been determined to
  be seriously damaged  and  unsafe  to  enter  or  occupy  or  completely
  demolished  as  a  result  of damage caused by the effects of the severe
  storm that occurred on the twenty-ninth and thirtieth  of  October,  two
  thousand twelve, and such determination has been indicated by a notation
  on  such  department's  records  and/or  by the posting of a red placard
  warning on the building; or
(2) during the period beginning on the first of November, two thousand
  twelve and ending on the thirtieth of  November,  two  thousand  twelve,
  after inspection by the department, such building has been determined to
  require  repairs or to have a restricted area and such determination has
  been indicated by a notation on such department's records and/or by  the
  posting  of  a  yellow  sticker  on  the building, and during the period
  beginning on the first of December, two thousand twelve  and  ending  on
  the  twenty-eighth of December, two thousand twelve, after inspection by
  the department, such  building  has  been  determined  to  be  seriously
  damaged  and  unsafe  to  enter  or occupy or completely demolished as a
  result of damage caused by the effects of the severe storm that occurred
  on the twenty-ninth and thirtieth of October, two thousand  twelve,  and
  such determination has been indicated by a notation on such department's
  records and/or by the posting of a red placard warning on the building.
4.  Amount  of  rebate.  a. The amount of the rebate to be paid by the
  commissioner  of  finance  for  eligible  real  property   pursuant   to
  subdivision  one  of  this  section  shall be equal to two-thirds of the
  annual tax, multiplied by a fraction, the numerator of which is equal to
  that portion of the assessed valuation of  the  eligible  real  property
  that  is  attributable  to  the  improvements  on  the property, and the
  denominator of which is equal to the total  assessed  valuation  of  the
  eligible real property.
b.  Except  as  provided  in  subdivision  five  of  this section, for
  property held in the cooperative form of ownership, the  amount  of  the
  rebate  to be paid to the owner of a unit therein shall be equal to that
  proportion  of  the  amount  calculated  under  paragraph  a   of   this
  subdivision  that  is  attributable  to  such unit, as determined by the
  proportional relationship of the owner's share or shares of stock in the
  cooperative apartment corporation that owns such real  property  to  the
  total outstanding stock of the cooperative apartment corporation.
c. Eligible real property with no annual tax shall not be eligible for
  a rebate under this section.
5.   Calculation  of  rebate  for  certain  class  one  real  property
  consisting of one family house  structures  situated  on  land  held  in
  cooperative ownership.
a. Notwithstanding the provisions of subdivision four of this section,
  the  amount  of  the rebate to be paid by the commissioner of finance to
  the owner of a  building  that  was  designated  by  the  department  of
  buildings  in  accordance  with paragraph b of subdivision three of this
  section, that is located on eligible real property that is described  in
  subparagraph  (c)  of  paragraph class one of subdivision one of section
  eighteen hundred two of this chapter, shall be equal  to  two-thirds  of
  the  annual  tax  on  the  property  of the cooperative development, (1)
  multiplied by a fraction, the  numerator  of  which  is  equal  to  that
  portion  of  the assessed valuation of the eligible real property in the
  cooperative development that is attributable to the improvements on  the
  property,  and  the  denominator of which is equal to the total assessed

  valuation of the eligible real property in the cooperative  development,
  and (2) multiplied by a second fraction, the numerator of which is equal
  to the number of buildings in the cooperative development that have been
  designated by the department of buildings in accordance with paragraph b
  of  subdivision  three  of this section, and the denominator of which is
  the total number of buildings  that  were  located  in  the  cooperative
  development as of the twenty-eighth day of October, two thousand twelve,
  then  (3)  divided  by  the  number  of  buildings  in  the  cooperative
  development that have been designated by the department of buildings  in
  accordance with paragraph b of subdivision three of this section.
b. Eligible real property described in this subdivision with no annual
  tax shall not be eligible for a rebate under this section.
6.  Mailing  of  rebate. a. The commissioner of finance shall mail the
  rebate authorized by this section to the person whose  name  appears  on
  the  records  of  the department of finance as the owner of the eligible
  real property or unit located therein on the thirtieth of  October,  two
  thousand  twelve,  at  an  address  on  the records of the department of
  finance as the address of such owner, and if no such address appears  on
  the  records  of the department of finance, then to the address, if any,
  appearing in the latest assessment roll as the address of the  owner  of
  the eligible real property. Notwithstanding the previous sentence, if an
  owner  has  notified  the  United  States postal service of a forwarding
  address for mail that would otherwise have  been  sent  to  any  of  the
  addresses  described  in the previous sentence, then the commissioner of
  finance  may  mail  the  rebate  authorized  by  this  section  to  such
  forwarding address.
b.  Notwithstanding  paragraph  a of this subdivision, with respect to
  any rebate to which an owner of a building that was  designated  by  the
  department  of  buildings  in accordance with paragraph b of subdivision
  three of this section that is located on eligible real property that  is
  described  in subparagraph (c) of paragraph class one of subdivision one
  of section eighteen hundred two of this chapter is entitled  under  this
  section,  the  commissioner  of  finance  shall  mail  the rebate to the
  cooperative development of which the owner's property is a part, at  the
  address  on  the  records of the department of finance as the address of
  the cooperative corporation that is the owner of the  land  included  in
  the  cooperative  development,  and  if  no  such address appears on the
  records of the department of finance,  then  to  the  address,  if  any,
  appearing  in  the latest assessment roll as the address of the owner of
  such land. Notwithstanding the previous  sentence,  if  the  cooperative
  corporation   has  notified  the  United  States  postal  service  of  a
  forwarding address for mail that would otherwise have been sent  to  any
  of   the   addresses  described  in  the  previous  sentence,  then  the
  commissioner of finance may mail the rebate authorized by  this  section
  to such forwarding address.
7.  Recovery  of  erroneous  rebate.  If  the  commissioner of finance
  determines (a) that an owner who received a rebate was not entitled to a
  rebate under this section, or (b) that a rebate was paid  or  calculated
  in  error  under this section, the commissioner of finance shall recover
  or recalculate such rebate and the amount of the  rebate  or  an  amount
  equal  to  the  difference  between  the  rebate originally paid and the
  amount to which the owner was entitled shall be deducted from any refund
  or rebate otherwise payable to the owner, and any balance of such amount
  remaining unpaid shall be paid to the commissioner of finance  no  later
  than the due and payable date provided on a notice of the amount payable
  mailed  by  the  commissioner  of  finance.  Such  amount  payable shall
  constitute a tax lien on the real property owned by such owner as of the
  due and payable date provided on such notice, and, if not paid  by  such

  due and payable date, interest at the rate applicable to delinquent real
  property  taxes  on such property shall be charged and collected on such
  amount from the due and payable date provided on such notice to the date
  of  payment,  and such amount payable shall be enforceable as a tax lien
  in accordance with provisions of law relating to the enforcement of  tax
  liens in any such city.
8.  Rebate  not deemed a refund. Any rebate authorized by this section
  to be paid by the commissioner of finance shall not be deemed  to  be  a
  refund of a real property tax payment.
9.  Overpayment.  If,  in  any  proceeding brought pursuant to article
  seven of the real property tax law, the assessed valuation  of  eligible
  real  property  is reduced for the fiscal year beginning on the first of
  July, two thousand twelve, and such reduction results  in  a  return  of
  overpayment  of  real  property  taxes  paid with respect to such fiscal
  year, the amount of such overpayment shall be reduced by the  amount  of
  any  rebate  paid  pursuant  to  this  section.  If  such overpayment is
  returned before a rebate is paid pursuant to this section, the amount of
  any rebate paid pursuant to this section shall be reduced by the  amount
  of such overpayment.
10.  Rulemaking.  The  commissioner  of finance shall be authorized to
  promulgate rules necessary to effectuate the purposes of this section.