Exemption Administration Manual, Part 2: Industrial, Commercial, and Public Service—Section 4.06 - RPTL Section 485-c: Steel manufacturing property (in cities with a population of 50,000 or more)
Assessor Manuals
Section 4.06 - RPTL Section 485-c: Steel manufacturing property (in cities with a population of 50,000 or more)
Exemption code(s):
27550
Year originally enacted:
1980
Related Statutes:
Tax L Article 0-A (Franchise Tax on Business Corporations)
Summary:
Certain property that is (1) owned by a corporation taxable under Article 9-A of the Tax Law, (2) located in a city with a population of 50,000 or more, and (3) used in the manufacture of steel is exempt from taxation, but is liable for special ad valorem levies and special assessments. The exemption is not limited in amount or duration.
Eligibility requirements
Ownership requirements:
Property must be owned by a corporation taxable under Article 9-A of the Tax Law.
Property location requirements:
Property must be located in a city having a population of 50,000 or more.
Property use requirements:
Exemption is limited to the following types of property:
- Blast furnaces, open hearth furnaces, soaking pits, and coke ovens used in the manufacture of steel.
- Tanks, towers, and stills used in processing gases and liquids produced by the above-mentioned coke ovens.
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 | Ex |
| c. Town or town special district | NA | NA | NA | NA |
| d. Village | NA | NA | NA | NA |
| 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.
Special ad valorem levies and special assessments:
No exemption allowed.
Coding of exemption on assessment roll
| Code | Description of alternative codes possible |
|---|---|
| 27550 |
Assessment roll section(s):
Exempt (ARLM Section 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
None.
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