Section 467-a of the Real Property Tax Law, originally enacted in 1996, established an abatement from real property taxes for dwelling units in real property held in the cooperative or the condominium form of ownership that meet the qualification criteria of the law. This law was amended in 2013 to change certain provisions relating to eligibility and application for the abatement for fiscal years beginning in 2012, 2013 and 2014. Section 467-a was again amended in 2021 to add certain requirements regarding the payment of prevailing wage to building service employees and the certification and verification of the primary residence status of an owner. Section 467-a authorizes the Commissioner of Finance of the City of New York to promulgate rules necessary to effectuate the purposes of the law. These rules are intended to clarify the criteria for eligibility for the abatement and the requirements concerning application for the abatement for fiscal years beginning in 2012, 2013 and 2014.
(Amended City Record 4/27/2022, eff. 5/27/2022)
Unless the context requires otherwise, as used in this chapter:
"Abatement" means the partial tax abatement for residential real property held in the cooperative or condominium form of ownership authorized by § 467-a of the Real Property Tax Law. As used in this chapter, the term "abatement" includes both the "primary residence abatement" and the "non-primary residence abatement."
"Administrative Code" means the Administrative Code of the City of New York.
"Assessed value" means the actual assessed value of real property, which is not reduced by any exemption from real property taxes.
"Authorized agent" means any person authorized by the board to act on the board's behalf with respect to an application for an abatement, including, but not limited to, a managing agent.
"Board" means, in the case of real property held in the cooperative form of ownership, the board of directors of the cooperative, and in the case of real property held in the condominium form of ownership, the board of managers of the condominium.
"Building service employee" means any person who is regularly employed at a building who performs work in connection with the care or maintenance of such building. "Building service employee" includes, but is not limited to, watchman, guard, doorman, building cleaner, porter, handyman, janitor, gardener, groundskeeper, elevator operator and starter, and window cleaner, provided that the classification of work performed by such person is identified on the building service employee schedule, and provided, further, that "building service employee" shall not include persons regularly scheduled to work fewer than eight hours per week in the building.
"Building service employee schedule" means the schedule of wage rates and supplemental benefit rates for building service employees published by the Comptroller on an annual basis pursuant to paragraph (a) of subdivision 1 of § 234 of the Labor Law.
"Commissioner" means the Commissioner of Finance of the City of New York and any employee of the Department of Finance authorized by the Commissioner to act on his or her behalf.
"Comptroller" means the Comptroller of the City of New York.
"Department" means the Department of Finance of the City of New York.
"Designated property" means real property designated as class two, pursuant to § 1802 of the Real Property Tax Law, held in the cooperative or condominium form of ownership.
"Dwelling unit" means a unit used primarily for residential purposes in residential real property designated as class two real property under § 1802 of the Real Property Tax Law that is held in the cooperative or condominium form of ownership, and does not include a unit used primarily for professional or commercial purposes or used solely for parking vehicles or for storage.
"Fiscal year 2011/12" means the fiscal year that begins on July 1, 2011 and ends on June 30, 2012.
"Fiscal year 2012/13" means the fiscal year that begins on July 1, 2012 and ends on June 30, 2013.
"Fiscal year 2013/14" means the fiscal year that begins on July 1, 2013 and ends on June 30, 2014.
"Fiscal year 2014/15" means the fiscal year that begins on July 1, 2014 and ends on June 30, 2015.
"Fiscal year 2021/22" means the fiscal year that begins on July 1, 2021 and ends on June 30, 2022.
"Fiscal year 2022/23" means the fiscal year that begins on July 1, 2022 and ends on June 30, 2023.
"Fiscal year 2023/24" means the fiscal year that begins on July 1, 2023 and ends on June 30, 2024.
"Law enforcement officer" means anyone who is, or was, employed as a Federal, State or local judge, prosecutor, State or Local police or peace officer or Federal law enforcement officer as defined by the United States Code.
"Owner" means the owner, in whole or in part, of a dwelling unit in real property held in the condominium form of ownership, or a tenant-stockholder of a cooperative apartment corporation who owns, in whole or in part, a dwelling unit, as represented by his or her shares of stock in such cooperative apartment corporation. For purposes of these rules, with respect to any dwelling unit, or the shares representing a dwelling unit, held in trust solely for the benefit of a person or persons who would otherwise be eligible for an abatement pursuant to these rules were such person or persons the owner or owners of such dwelling unit, such person or persons are each deemed to be an "owner" of the dwelling unit. With respect to any dwelling unit, or the shares representing a dwelling unit, held in trust, the trustee or trustees of the trust are each deemed to be an "owner" of the dwelling unit. The holder or holders of a life estate in a dwelling unit are deemed to be "owner(s)" of the dwelling unit. An "owner" can only be an individual, and cannot be a corporation, partnership or any other entity, unless a waiver is granted pursuant to Subdivision (d) of 19 RCNY § 50-05 for a limited liability company or limited partnership.
"Prevailing wage" means the rate of wages and supplemental benefits paid in the locality to workers in the same trade or occupation and annually determined by the Comptroller in accordance with the provisions of § 234 of the Labor Law.
"Primary residence" means the dwelling unit in which the owner of the dwelling unit actually resides and maintains a permanent and continuous physical presence.
"Qualified property" means (i) a designated property with an average unit assessed value of less than or equal to $60,000; or (ii) a designated property with an average unit assessed value of more than $60,000 and less than or equal to $100,000, and less than 30 dwelling units; or (iii) a designated property with respect to which an applicant has submitted an affidavit required under § 467-a of the Real Property Tax Law certifying that all building service employees employed or to be employed at the property shall receive the applicable prevailing wage for the duration of such property's tax abatement.
"Regularly employed" means employed for a period of at least 90 days.
"Sponsors" means persons or business entities who make or take part in a public offering or sale of securities consisting primarily of shares or investments in real estate, including condominium units and other cooperative interests in realty. Sponsors will be deemed to include successors who succeed to the rights and assume the obligations of sponsors.
"Taxable status date" for a fiscal year means the January 5 that immediately precedes the commencement of such fiscal year. The taxable status date is the date as of which the condition and ownership of real property is considered for the purposes of determining the eligibility of a dwelling unit for the abatement for such fiscal year.
(Amended City Record 4/19/2019, eff. 5/19/2019; amended City Record 4/27/2022, eff. 5/27/2022)
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