Exemption Administration Manual, Part 2: Multiple dwellings and urban renewal—Section 4.07 - PHFL Section 663: New York City Housing Development Corporation
Assessor Manuals
Section 4.07 - PHFL Section 663: New York City Housing Development Corporation
Exemption code(s)
18300
Year originally enacted:
1971
Related statutes:
None.
Summary:
Real property owned by the New York City Housing Development Corporation is wholly exempt from taxation but is liable for special assessments.
Eligibility requirements
Ownership requirements:
Property must be owned by the New York City Housing Development Corporation.
Property location requirements:
Property must be located in New York City.
Property use requirements:
None.
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 | NA | No exemption allowed | |
| 2. Duration | No limit | No limit | NA | No exemption allowed | |
| 3. Taxing Jurisdiction | a. City | Ex | NA | NA | Tax |
| b. 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.
Special ad valorem levies and special assessments:
No exemption allowed.
Coding of exemption on assessment roll
| Code | Description of alternative codes possible |
|---|---|
| 18300 |
Assessment roll section(s):
Exempt.
Note: This code should not be used to identify property that is owned by a NYC Housing Development Corporation subsidiary and is exempt under PHFL §654-a or to identify property that is exempt under any of the statutes listed under Similar exemptions below.
Filing requirements (owner or occupant of property)
None.
Reporting requirements (assessor)
None.
Similar exemptions
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