The following terms shall have the following meaning:
Act. "Act" means § 421-b of the Real Property Tax Law as amended.
Commencement of new construction. "Commencement of new construction" means the date upon which the foundation is started in good faith as certified in an affidavit by a licensed architect or professional engineer after the issuance of a new building permit by the Department of Buildings based upon plans approved by the Department of Buildings.
Commencement of reconstruction. "Commencement of reconstruction" means the date upon which work begins in good faith after the filing of a building notice with the Department of Buildings or the issuance of an alteration permit where required.
Commissioner. "Commissioner" means the Commissioner of the Department of Housing Preservation and Development of the City of New York or the chief executive officer of a successor thereto authorized to administer this chapter, or such representative of said Department as shall have been duly designated by the Commissioner to act on his behalf.
Completion of new construction. "Completion of new construction" means the date a Certificate of Occupancy is issued by the Department of Buildings for lawful residential use.
Completion of reconstruction. "Completion of reconstruction" means the date all work necessary to complete reconstruction is completed. Such completion may be confirmed by:
(1) Issuance or reissuance of a Certificate of Occupancy; or
(2) Issuance of a Letter of Completion by the Department of Buildings; or
(3) Issuance of a Certificate of Completion or Compliance or other evidence of completion by a City agency other than the Department of Buildings; or
(4) If none of the above is required by law, an affidavit by a registered architect, licensed professional engineer or attorney certifying to the date of completion or an affidavit by the applicant if the cost of work is less than five thousand ($5,000) dollars.
Department. "Department" means the Department of Housing Preservation and Development of the City of New York.
Office. "Office" means the Office of Development of the Department of Housing Preservation and Development of the City of New York or any successor thereto authorized to administer this chapter.
Prior assessed valuation. "Prior assessed valuation" means the total assessed value of a tax lot (land and improvements) during the tax year immediately preceding the tax year of Commencement of New Construction or Commencement of Reconstruction.
Private dwelling. "Private dwelling" means a building or structure, including the land upon which it is situated, which is designed and occupied exclusively for residence purposes by not more than two families living independently of each other with separate cooking facilities.
Reconstruction. "Reconstruction" means reconstruction, alteration or improvement of a Private Dwelling if the actual cost thereof is not less than forty (40%) percent of Prior Assessed Valuation.
(a) Eligible projects. As used herein, eligible projects means private dwellings which are newly constructed or reconstructed provided such construction or reconstruction commences after July 1, 1978 but before July 1, 1980 and is completed no later than April 1, 1982.
(b) Other tax exemptions. No private dwelling shall be eligible for tax exemption pursuant to this chapter if it is receiving tax exemption under any other provision of law.
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