New York § 1621-N Tax exemptions

New York Statutes

§ 1621-N — Tax exemptions

New York·Law PBA Public Authorities·Title 21 Middletown Parking Authority·Art. 7 Parking Authorities

* § 1621-n. Tax exemptions.

1.It is hereby determined that the\ncreation of the authority and the carrying out of its corporate purposes\nis in all respects for the benefit of the people of the city of\nMiddletown and its environs, and is a public purpose, and the authority\nshall be regarded as performing an essential governmental function in\nthe exercise of the powers conferred upon it by this title and shall be\nrequired to pay no taxes or assessments upon any of the property\nacquired by it or under its jurisdiction or control or supervision or\nupon its activities.\n 2. Any bonds or notes issued pursuant to this title, together with the\nincome therefrom, as well as the property of the authority, shall be\nexempt from taxation, except for transfer and estate taxes.\n * NB Repeal

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* § 1621-n. Tax exemptions. 1. It is hereby determined that the\ncreation of the authority and the carrying out of its corporate purposes\nis in all respects for the benefit of the people of the city of\nMiddletown and its environs, and is a public purpose, and the authority\nshall be regarded as performing an essential governmental function in\nthe exercise of the powers conferred upon it by this title and shall be\nrequired to pay no taxes or assessments upon any of the property\nacquired by it or under its jurisdiction or control or supervision or\nupon its activities.\n 2. Any bonds or notes issued pursuant to this title, together with the\nincome therefrom, as well as the property of the authority, shall be\nexempt from taxation, except for transfer and estate taxes.\n * NB Repealed per § 1621-r (see chapter 597 of 2023 § 2 for specifics)\n

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