2016 New York Laws
RPT - Real Property Tax
Article 4 - EXEMPTIONS
Title 4-B - (499-AAA - 499-GGG) 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 amount of such tax abatement for any tax year commencing on or
  after July first, two thousand fourteen and ending  on  or  before  June
  thirtieth, two thousand nineteen, 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  the  lesser of (i) two hundred
  thousand dollars or (ii) the tax liability for the eligible building  in
  the tax year in which the tax abatement is taken.
(c)  Notwithstanding  paragraph (b) 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
  nineteen  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 nineteen. Such aggregate amount of 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, and
  shall not exceed one year.
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.