§ 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.

Terms Used In N.Y. Real Property Tax Law 489-GGG

  • Applicant: means any person or corporation obligated to pay real property taxes on the property for which an exemption is sought, or in the case of exempt property, the record owner thereof, provided, however, that such property is not commercial property located in an area designated as excluded pursuant to section four hundred eighty-nine-ccc of this title;

    2. See N.Y. Real Property Tax Law 489-AAA
  • Board: means the industrial and commercial incentive board;

    3. See N.Y. Real Property Tax Law 489-AAA
  • Commercial: means any non-residential property used primarily for the buying, selling or otherwise providing of goods or services, provided that the use of such property has not been designated as a restricted commercial use pursuant to section four hundred eighty-nine-ccc of this title;

    4. See N.Y. Real Property Tax Law 489-AAA
  • Industrial: means property used primarily for the manufacturing or assembling of goods or the processing of raw materials;

    6. See N.Y. Real Property Tax Law 489-AAA
  Previous section
Next section  
 Title 2-C Contents