2016 New York Laws
RPT - Real Property Tax
Article 4 - EXEMPTIONS
Title 3 - (490 - 496) 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. 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, 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.