Exemption Administration Manual, Part 1: Municipal Governments—Section 4.03 - Racing L Section 513: Regional Off Track Betting Corporations
Assessor Manuals
Section 4.03 - Racing L Section 513: Regional Off Track Betting Corporations
Exemption code(s):
13970
Year originally enacted:
1973
Related statutes:
None
Summary:
Real property owned by a regional off-track betting corporation outside New York City is wholly exempt from taxation but is liable for special ad valorem levies and special assessments.
Eligibility requirements
Ownership requirements:
Property must be owned by a regional off-track betting corporation.
Property location requirements:
Property must be located outside New York City.
Property use requirements:
Property used other than for off-track pari-mutuel betting purposes is not exempt.
Certification by state or local government:
None required.
Required construction start date or other time requirement:
None.
Local option
No.
Limitation on exemption
| General municipal taxes | School district taxes | Special ad valorem tax | Special assessments | ||
|---|---|---|---|---|---|
| 1. Amount | No limit | No limit | No exemption allowed | No exemption allowed | |
| 2. Duration | No limit | No limit | No exemption allowed | No exemption allowed | |
| 3. Taxing Jurisdiction | a. County or County Special Districts | Ex | NA | Tax | Tax |
| b. City | Ex | NA | NA | Tax | |
| c. Town or Town Special District | Ex | NA | Tax | Tax | |
| d. Village | Ex | NA | NA | Tax | |
| e. School District | NA | Ex | NA | NA | |
| Ex-Exempt Tax-Taxable NA-Not Applicable | |||||
Payments in lieu of taxes
None required.
Calculation of exemption
General municipal and school district taxes:
100% of assessed value except for that portion of the property not used for off-track pari-mutuel betting purposes.
Special Ad Valorem Levies and special assessments:
No exemption allowed.
Coding of exemption on assessment roll
| Code | Description of alternative codes possible |
|---|---|
| 13970 |
Assessment roll section(s):
Exempt (RPS § 8).
Note: This code should not be used to identify property that is exempt under any of the statutes listed under Similar Exemptions below. For coding of such property, see the Exemption Profile for the statute that applies.
Filing requirements (owner or occupant of property)
None.
Reporting requirements (assessor)
None.
Similar exemptions
| Subject | Statute |
|---|---|
| NYC Off-Track Betting Corporation | Racing L §617 |
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